Highly Qualified Persons Rules
The expansion of the financial services and gaming industries in recent years has shown a significant need for additional highly qualified workers.
The objective of Highly Qualified Persons Rules, 2011 is the creation of a scheme to attract highly qualified persons to occupy “eligible office” with companies licensed and/or recognized by the relevant Competent Authority (Malta Financial Services Authority, Lotteries and Gaming Authority). “Eligible office” comprises employment in one of the following positions:
Individual income from a qualifying contract of employment in an “eligible office” with a company licensed and/or recognised by the Competent Authority is subject to tax at a flat rate of 15% provided that the income amounts to at least €75,000 (seventy five thousand euro) adjusted annually in line with the Retail Price Index.
The 15% flat rate is imposed up to a maximum income of €5,000,000 (five million euro), the excess is exempt from tax.
For more information contact us
The objective of Highly Qualified Persons Rules, 2011 is the creation of a scheme to attract highly qualified persons to occupy “eligible office” with companies licensed and/or recognized by the relevant Competent Authority (Malta Financial Services Authority, Lotteries and Gaming Authority). “Eligible office” comprises employment in one of the following positions:
- Actuarial Professional,
- Chief Executive Officer;
- Chief Financial Officer;
- Chief Commercial Officer
- Chief Insurance Technical Officer;
- Chief Investment Officer;
- Chief Operations Officer;
- Chief Risk Officer (including Fraud and Investigations Officer);
- Chief Technology Officer;
- Chief Underwriting Officer;
- Head of Investor Relations;
- Head of Marketing (including Head of Distribution Channels);
- Head of Research and Development; (including Search Engine Optimisation and Systems Architecture)
- Portfolio Manager;
- Senior Analyst (including Structuring Professional);
- Senior Trader/Trader.
- Odds Compiler Specialist
Individual income from a qualifying contract of employment in an “eligible office” with a company licensed and/or recognised by the Competent Authority is subject to tax at a flat rate of 15% provided that the income amounts to at least €75,000 (seventy five thousand euro) adjusted annually in line with the Retail Price Index.
The 15% flat rate is imposed up to a maximum income of €5,000,000 (five million euro), the excess is exempt from tax.
For more information contact us
