Malts are considered to be one of the most idyllic nations to live in the world. However, with its investment for citizenship program in place, it is now one of the best countries to get a second passport in. This is due to the fact that up sixty-five countries from around the globe have signed treaties with the Maltese government on a double tax issue. This means that the person who is a being taxed in Malta will not be taxed in any of these 65 nations if he is also a resident of that nation.
The greatest perk of Malta citizenship by investment is, therefore, the tax benefit. Many people who have opted for getting a second passport from Malta are there for the tax benefit. It must be kept in mind however that this does not mean that these people do away with taxes. The only thing is that Malta has a significantly lower tax rate than many other nations, due to its smaller infrastructure and many other issues. So instead o paying their tax in their home nations, these people pay their taxes in Malta and enjoy the benefits of being taxed at a lower rate.
So what does Malta get in exchange? The best thing that the country gets is monetary value of its citizenship. Every person who applies for a passport and a citizenship must invest no less than 1.15 million Euros into the economy of the country through direct investment. This drives the economy of the nation and it has now become a top performer in the area. Another aspect is that all of its people pay taxes. While in other countries there is rampant tax evasion, in Malta there is none. For people are willing to pay their taxes in Malta and show the receipt papers to the relevant authorities in their home nations to make sure that they are not taxed in those nations.
If you read more on the issue of taxes in Malta you will find that Malta attracts some big names in the multinational level as well as individuals. This is due to the fact that one of the greatest perks in the Maltese program is that corporate taxes have been implied at only 5%, which is one of the lowest the world over. So this is the reason that even multinational corporations are flocking to the nation.