Malta Retirement Programme
Ideal for retirees, or persons reaching retirement age, the Malta Retirement Programme is aimed at EU, EEA or Swiss nationals who are considering taking up residence in Malta to benefit from the warm climate, the comfortable and relaxed Mediterranean lifestyle, and the favourable tax benefits it provides.
Eligibility Criteria and Fees
To qualify, applicants must be nationals of an EU member state, or nationals of Switzerland, Iceland, Norway or Liechtenstein.
They must also hold a qualifying purchased or rental property for the duration of their Residency Certificate, either valued above €220,000 in Gozo or the south of Malta if purchased, or with a minimum value of €8,750 per annum if rented. For properties located in the rest of Malta, the purchase price must be at least €275,000 or the rental value must be a minimum of €9,600 per annum.
While applicants must not be domiciled in Malta, and have no intention of being so within five years from their application for the programme, they must reside in Malta for at least 90 days a year over a period of five years, and not stay in any other jurisdiction for more than 183 days in a calendar year.
Applicants also need to provide documentary evidence of a pension that is received in Malta and constitutes at least 75 per cent of the beneficiary’s chargeable income, as well as valid travel documents and insurance that covers all risks across the EU.
There is a fee of €2,500 that is chargeable per application for the programme.
Beneficiaries of the programme offers a tax rate of 15 per cent on any overseas income that is received by both the beneficiary and their dependents, while any income arising in Malta is subject to a flat rate of 35 per cent. Although this favourable rate is subject to a minimum tax payment of €7,500 per annum and an additional €500 per dependent, beneficiaries can claim relief from double taxation on all foreign-sourced income, due to Malta’s participation in several double taxation agreements.