The Malta Retirement Program grants a special tax status to EU/EEA/Swiss pensioners, if the pension makes up at least 75% of their chargeable income. The applicant must satisfy the following conditions:
- acquire property for not less than €275,000 or rent a property for not less than €9,600 per annum. If the property is in Gozo or in the South of Malta, the purchase value should be above €220,000. In this case, the rental value should not be less than €8,750 per year.
- have adequate health insurance covering the EU territory.
- Applicants may not spend more than 183 days in any one foreign jurisdiction in a year
- need to satisfy a “fit and proper test”
- apply for a residence card on the basis of retirement
A 15% tax is chargeable in respect of foreign income if received in Malta, with the possibility of claiming double tax relief. The minimum annual tax under this programme stands at €7,500. If there are any dependent or special carer, then an additional €500 applies per each. A one-time registration fee amounting to €2,500 is levied by the Malta Government.
Only an Authorised Registered Mandatory can submit an application under the Malta Retirement Program. We have been granted authorization by the International Tax Unit to act as an Authorised Registered Mandatory and may assist you with your application and with any immigration, tax and legal requirements.