Private Retirement Programme

What makes Malta one of the most attractive retirement destinations in the Mediterranean and Europe? A recent international study listed Malta as the best place on earth for Brits and EU nationals to retire. But we are sure this applies to any foreign national looking at retiring in an idyllic country, one which enjoys an excellent quality of life, which Malta offers.

Maltese people are generally very welcoming and accept foreigners with great ease. This makes integration by foreign nationals within the local communities very easy, if not natural. What’s more, Malta offers tonnes of activities, thanks to its captivating history, stunning beaches, pleasant Mediterranean climate and very low crime rate. This is topped up with a good number of financial and low taxation incentives for foreign nationals looking at buying a property in Malta, take up permanent residency or retire in Malta. One such programme is the Private Retirement Programme available to EU nationals, however the options are various.

The Malta Retirement Programme
The Malta Retirement Programme is ideal for retirees, or persons reaching retirement age, who are looking at taking up residence in a country that offers them the best in terms of climate, lifestyle, health services and peace of mind, whilst also providing very favourable tax benefits. It grants a tax rate of 15% on any income arising from overseas and received in Malta by both the beneficiary and his/her dependents, with the possibility to also claim relief of double taxation.

To qualify for the scheme, applicants must be nationals of an EU member state (excluding Malta), or nationals of Iceland, Norway, Leichenstein or Swiss. They must purchase a property of €275,000 or over (or in the case of Gozo, €250,000 or over). They may alternatively rent a property, given that the annual rent totals to €9,600 for a property situated in Malta or €8,750 for a property situated in Gozo.

Applicants must be in receipt of a pension as supported by documentary evidence, all of which is received in Malta and constitutes at least 75% of the beneficiary’s chargeable income.

Eligibility requires that applicants reside in Malta for not less than 90 days a year, averaged over any five year period. They may not stay in any other jurisdiction for more than 183 days in a calendar year. They must have a valid travel document and must hold sickness insurance covering them and their dependents, in respect of all risks across the whole of the EU