When Malta first introduced its special tax residence programmes, they were designed to address specific segments of the international market. The introduction of the Individual Tax Programme (ITP) marks a new chapter in that evolution. The question is not simply whether the ITP changes Malta’s tax residence offering, but what it signals about the future direction of Malta’s international financial centre. The distinction matters because Malta’s previous residence programmes evolved separately, each responding to different categories of applicants and different policy objectives. The move towards a single regime also needs to be considered against the backdrop of a changing international tax environment.