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Tax, Personal Wealth Structure & Estate Planning
Templar manages wealth and investments held in your own name, your family’s name or those held in Pension Trusts, Family Trusts, Foundations or Limited Companies.
Tax can be awfully complicated. It doesn’t help that successive governments of individual EU countries have added and change legislation over the years. If you have not taken up-to-date tax advice your earnings, your investments and your estate may be taxed at a higher rate than necessary. There are many legitimate ways to reduce the tax you pay and put more money in your pocket.
Without expert investment advice combined with expert tax advice, it can be hard to know where to start. That’s where Templar can help, by working with your current tax adviser or sourcing the right tax adviser for your needs, wherever you may live.
There could be simple ways to ensure you’re managing your money in a tax-efficient manner, or you might have more sophisticated family wealth and business concerns. Our independent investment advisers can work with you and tax experts to review your current tax situation and your objectives. Strategies are then proposed to secure your capital and build wealth from an investment and tax point of view.
Opportunities in Malta
Whilst we work with professional advisers and Trust providers in different countries, a number of wealth management and trading structures are available here in Malta, for all EU citizens.
Maltese foundations are non-trading incorporated entities with the benefits of trusts and the added protection of being a separate legal personality. With origins in the legal traditions of ancient Rome or Greece, Foundations have existed in Maltese law for at least a hundred years but a recent amendment to the civil code and a published guidance statement in 2007 has clarified their usage in the modern financial services industry.
Maltese Foundations are suitable for passive holdings only. If trading is required then the foundation will hold the shares of a limited company. Private foundations can elect to be taxed either as a company or as a trust, giving some tax planning choice.
Foundations can be a useful vehicle for:
Owning family trading structures and property
Estate and Inheritance Tax planning
Helping with general asset protection and Confidentiality concerns
Maltese law enables trusts to be converted into foundations and vice versa.
Malta Trading Companies (Non-resident)
Malta has been the EU success story in building its economy over the last 10 years. Benefits to foreign business people include the robustness of its administration and the secure trading environment. Another is that non-resident shareholders of Malta trading companies can benefit from bringing some or all of their business activities to Malta.
All Maltese companies pay 35% tax, but approved rebates are offered to different companies depending on their activities and shareholding. In the case of foreign shareholders, 6/7ths of active income and 5/7ths of passive income is refunded to foreign shareholders (or non-Maltese nationals resident in Malta, who are holding via a foreign holding company) making the effective rate of tax 5% and 10% respectively. There is also a tax exemption from capital gains and dividend income from subsidiaries where the Maltese company holds at least 10% of equity. Tax residency in Malta does not prevent a company also becoming tax resident elsewhere based on its operation. If the directors are based in another country it is likely to be taxable there also (for this reason many providers offer local directors to operate the company from within Malta).
There may be trading and planning opportunities for your business – ask us about how Malta structures may help you.
Malta QROPS & QNUPS (Pension Trusts)
In recent years Malta has built an enviable reputation for Pension Trust administration within the EU, keeping close relations with tax regimes such as the UK HMRC to maintain the authenticity of its international pension trust offerings and benefiting from International double taxation agreements. Many foreign nationals, including those from the USA, can work confidently with these homes for their wealth.
Ask us about how Malta pensions and Malta’s double taxation agreement with the USA and many other countries might help you.
Get In Touch
39 Mitchell Point
Phone: +44 (0)333 358 3380
1 Triq Kannestru
Phone: +356 2776 1094