Malta Retirement Programme: A Mediterranean Haven for Retirees

The Malta Retirement Programme (MRP) is designed for retirees or individuals approaching retirement who are seeking to establish residence in a warm, welcoming environment with excellent healthcare, lifestyle options, and notable tax advantages. Perfect for those wanting an overseas retirement haven, the MRP offers a balanced lifestyle, peace of mind, and financial benefits that make Malta a top choice.

Key Benefits of the Malta Retirement Programme

Qualified retirees under the MRP can enjoy:

Climate and Lifestyle – Malta boasts a Mediterranean climate and lifestyle that encourages well-being and relaxation.
Healthcare and Peace of Mind – Access to top-quality healthcare in Malta is a significant advantage for retirees.
Tax Incentives – The programme also provides attractive tax benefits, which can greatly enhance financial security in retirement.

Eligible individuals may also hold non-executive roles on Maltese boards or participate in philanthropic, educational, or research institutions based in Malta, provided these organizations operate in a public-interest capacity.

Eligibility Criteria

Both EU and non-EU nationals may apply. To qualify, applicants must:

Property Requirement – Hold a qualifying property throughout the duration of their residency in Malta:
- Property Purchase – A minimum value of €220,000 for properties in Gozo or the South of Malta, or €275,000 for properties in other parts of Malta.
- Property Rental – A minimum annual rent of €8,750 in Gozo or the South of Malta, or €9,600 in other parts of Malta.
Pension Income Requirement – Applicants must be receiving a pension, of which at least 75% of this income must be remitted to Malta, where it will constitute their primary chargeable income.
Residency Requirement – The applicant must reside in Malta for at least 90 days per year, averaged over a five-year period, and not spend more than 183 days per year in any other foreign country.
Non-Domicile Requirement – Applicants must not be domiciled in Malta nor intend to establish domicile there within five years of applying.
Additional Requirements – Applicants must have a valid travel document and health insurance that covers themselves and any dependants for all risks across the EU.

Tax Benefits

Under the Malta Retirement Programme, retirees benefit from:

Favorable Tax Rate – A 15% tax rate applies to pension income and foreign income remitted to Malta, with a minimum annual tax payment of €7,500 and an additional €500 for each dependant.
Double Taxation Relief – Beneficiaries can claim relief to avoid double taxation on foreign income.
Local Income – Any income generated in Malta that is not part of the programme is taxed at a flat rate of 35%.

For those who are digital nomads, Malta also has a unique tax regime where foreign income not remitted to Malta is not subject to tax, offering flexibility for individuals working remotely.

Fees

The application for the Malta Retirement Programme requires a non-refundable administrative fee of €2,500.

Start Your Journey with Belair Property

Whether you’re seeking a peaceful retirement or exploring tax-efficient residency options, Malta provides an ideal setting. For personalized guidance and expert assistance in your journey towards residency in Malta, contact Belair Property. Our team is ready to help retirees make the most of the Malta Retirement Programme and ensure a seamless relocation.