Malta, a European country located in the heart of the Mediterranean, enjoys 300 days a year of sunny weather, crystal clear sea waters and warm climate throughout the year. English is one of its two official languages, it enjoys excellent healthcare and has a low crime rate, making Malta one of the most attractive destinations for retirement in Europe.
The Malta Retirement Programme has been offering retirement in Malta with numerous benefits since 2012, however the program was restricted to applicants from EU/EEA/ Switzerland.
Legal Notice 69 of 2020 amends the Malta Retirement Programme Rules by extending eligibility to any individual (except Maltese), including nationals of non-European countries.
Benefits
- Ability to settle in Malta and travel freely within Schengen community
- 15% flat income tax rate for foreign income remitted to Malta
- Remittance basis of taxation
Requirements
- Own or rent property in Malta. The cost of rent should be not less than €9,600 per annum (€8,750 per annum in Gozo and South of Malta). A property which is owned should be purchased at no less than €275,000 (€220,000 in Gozo and South of Malta).
- Be in possession of a valid travel document.
- Be in possession of sickness insurance in respect of all risks across the whole of the EU normally covered for Maltese nationals for himself and his dependents.
- Settle one time administrative fee of €2,500.
- Receive the whole amount of pension in Malta, the pension should constitute at least 75% of the beneficiary’s chargeable income. The applicant may therefore still generate up to 25% of his total chargeable income from additional income.
- Not be in gainful employment, however allowed to hold non-executive posts
- Not be domiciled in Malta and does not intend to establish his domicile in Malta within 5 years from application date.
- Not spend less than 90 days a year in Malta and more than 6 months in any other country than Malta.
- Be a fit and proper person.
Tax Obligations
- Annual minimum tax €7,500;
- An additional minimum tax of €500 per dependent.
Application Process
There is no need for personal presence of the applicant in order to submit the application under the Malta Retirement Programme. With a minimum set of documents, an authorised registered mandatory can lodge the application with the Commissioner for Revenue.
Processing time takes around 3 months.
Our Services
Corrieri Cilia is authorised registered mandatory enabled to represent applicants under the Malta Retirement Programme and other programmes leading to special tax status.
We will be glad to assist with establishing your residence in Malta, and help with related tax matters.
