The United Nations Pensions Program grants a special tax status to people who are in receipt of a UN pension or a Widow’s/Widower’s Benefit of which at least 40% is received in Malta. 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. The health insurance cover must be procured by a company licensed in Malta or by an international reputable health insurance company.
- have a valid travel document
- not spend more than 183 days in any one foreign jurisdiction in a year
- need to satisfy a “fit and proper test”
- be able to adequately communicate in Maltese or English
- apply for a residence card on the basis of retirement
Under United Nations Pensions Program, the individual will be subject to tax in Malta at the rate of:
- 0% on the UN pension income or Widow’s/Widower’s Benefit received in Malta
- 15% on income arising outside Malta (excluding the Un pension) that is received in Malta
- 35% on any other income arising in Malta
A one-time registration fee amounting to €4,000 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.
