Much has already been written on the new R&I Regime and whilst it the regime is still in its infancy with the full regulation pending, we will explore over a series of articles focussing on the main principles behind the regime.

1. Benefits

• 20% rate of tax on domestic professional income;
• Tax exemption on foreign professional income, investment income (dividends, royalties, interest, capital gains) an property income;
• 10 year duration.

2. High Added Value Activity

One of the ways to access the benefits above is to successfully show that you are exercising a high added value activity. These activities will be subject to future definition by the government but, in the interim, we understand that it is possible to use the High Added value list which was attached to the Non Habitual Residency Programme. This would mean that, for example, Administrative and Commercial Company Directors could access the status.

3. Implementation

Applications are made directly to the Tax Department.

4. How we can help

We can guide you through the specific application of the benefits to you, the required reporting, the application process as well as providing our suite of services for residents.

5. Other provisions

There are a series of other platforms for accessing these benefits and these will be explored in subsequent articles.