S.L. 123.134 Art. 4Beneficiary.

A beneficiary is an individual who proves to the satisfaction of the Commissioner that:

(a) he holds a qualifying property holding: provided that where two individuals are spouses or prove to the satisfaction of the Commissioner that they are in a stable and durable relationship with one another, both individuals may hold jointly the same qualifying property holding;

(b) he is not a person who benefits under the Global Residence Programme Rules; the High Net Worth

Individuals – EU / EEA / Swiss Nationals Rules; the

High Net Worth Individuals Rules – Non-EU / EEA / Swiss Nationals Rules; the Highly Qualified Persons

Rules; the Qualifying Employment in Aviation (Personal Tax) Rules; the Qualifying Employment in Innovation and Creativity (Personal Tax) Rules; the Qualifying Employment in Maritime Activities and the Servicing of

Offshore Oil and Gas Industry Activities (Personal Tax)

Rules; the Residence Programme Rules; the Residents Scheme Regulations or the United Nations ("UN")

Pensions Programme Rules;

(c) he is not a Maltese national;

(d) he is in receipt of a pension, as supported by documentary evidence, all of which is received in Malta and constitutes at least 75% of the beneficiary’s chargeable income;

(e) he is in possession of a valid travel document;

(f) he is in possession of sickness insurance in respect of all risks across the whole of the European Union normally covered for Maltese nationals for himself and his dependents;

(g) he is not domiciled in Malta and that he does not, within five years from the date of application, intend to establish his domicile in Malta; and

(h) he is a fit and proper person.