40% of Malta's tax revenue in 2014 came from investment-based citizenship and residence programmes, says PM
- Published on Thursday, 07 May 2015 11:10
On 5 and 6 May 2015, Henley & Partners, a company specialising in residence and citizenship planning, held its annual forum at the Dolder Grand Hotel in Zurich. The 2015 Henley & Partners Forum gathered around 300 participants, interested in the acquisition of citizenship or residence through investment. The company’s representatives were joined by government officials of Malta, Switzerland, the United Kingdom, and St. Kitts and Nevis in promoting investment-based citizenship and residence programmes.
The focus of the morning sessions was the small European island state of Malta. Addressing the participants to the forum, the Prime Minister of Malta Joseph Muscat described the country as a “natural choice” for investors, given its fast-growing economy and the European Commission’s forecast of GDP growth of 3.6% in 2015. Jonathan Cardona, CEO of Identity Malta and André Zarb of KPMG Malta spoke about the benefits of the program including the country’s growing property market and favourable tax regime. In 2014, 40% of the tax revenue in Malta was generated through investment based residence and citizenship programmes.
Other topics discussed at the event included the tax regime of Switzerland, tax transparency, due diligence, real estate markets and wealth planning in the 21st century.