Its benign tax regime only adds to this appeal, and the opportunity to establish a QROPS in Malta is set to further increase the attractiveness of life on the Mediterranean island.
The main advantage of establishing a QROPS (Qualifying Recognised Overseas Pension Schemes) in Malta is its stable and favourable tax regime, says Darryn Portelli of local property developer, Tumas.
The strength of Malta's reputation as a financial services jurisdiction has been further reinforced by the fact that retirement schemes established in Malta and regulated by the Malta Financial Services Authority may be recognised by Her Majesty's Revenue and Customs in the UK as Qualifying Recognised Overseas Pension Schemes.
Tumas Developments is a company that specialises in offering residential-lifestyle oriented properties in Special Designated Areas (SDAs), where non-Maltese purchasers, may buy property with the same rights as Maltese citizens (they do not require a permit from the Maltese Government, can purchase more than one property and are permitted to rent out the property).