Malta Retirement Programme

 

The Malta Retirement Programme Rules

EU, EEA and Swiss nationals who retire in Malta and are in receipt of pension income may benefit from a 15% tax rate on such income, subject to a minimum tax payable of seven thousand five hundred euro (€7,500) for the beneficiary and five hundred euro (€500) for each of his/ her dependants (if any).

The conditions applicable to benefit under this programme are as follows:

• Cannot be in employment, except involvement in companies as non-executive director or involvement in a trust or foundation existing for a non-profit purpose; and
  
  
• Must purchase or rent property in Malta or Gozo of a value not less than €275,000 if the property is purchased in Malta, or €250,000 if the property is purchased in Gozo. Alternatively, the beneficiary may rent a property in Malta for an annual rent of not less than €9,600 if the property is situated in Malta or €8,750 if the property is situated in Gozo; and
  
  
• The pension remitted to Malta must consist of not less than 75% of the beneficiary's chargeable income; and
  
  
• Be in possession of a health insurance policy; and
  
  
• Cannot be domiciled in Malta and should not have any intention of so establishing his/her domicile in Malta within a period of 5 years; and
  
  
• Must reside in Malta for a minimum of 450 days in a five-year period; and
  
  
• Throughout the period during which the retirement programme is availed of, the beneficiary must not reside in any other jurisdiction for more than 183 days in any calendar year which could give the foreign jurisdiction taxing rights over the pension income.

For more information about about Retiring in Malta please contact us on info@virtusmalta.com or by filling in the form in the Contact Us page.

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