Retiring in Malta
1. Who is Eligible?
Applicants meeting all of the following criteria are eligible to submit an application in terms of the Malta Retirement Programme:
1) Owns or rents an immovable property which the individual occupies as his principal place of residence worldwide. The value of the property needs to be as follows.
- Malta: €275,000
- Gozo: €250,000
The property needs to have been bought after 1st January 2011. However if a property was purchased before 1st January 2011 for an amount which is less than the above-mentioned amounts, such property may also satisfy this requirement if the individual declares in his application that the property was bought for less than the amounts indicated above and the said declaration is supported by the following documentation.
This documentation needs to be submitted together with the application:
- A separate and independent architect valuation of the property; and
- Architect’s plan of the property.
The Commissioner for Revenue may authorise an officer, architect or surveyor in writing to full and free access to the immovable property to the extent that the declared value of the property is ascertained.
A certified copy of the final deed of purchase needs to be submitted together with the application.
- Malta: €9,600 annually;
- Gozo: €8,750 annually.
The lease needs to be taken out for not less than a twelve month period and is evidenced by a certified lease agreement submitted together with the application.
The lease agreement needs to indicate details of whether the property is being rented as furnished or otherwise. Any separate agreement relating to furnishings etc needs to be attached and the relative amounts indicated in the application form.
The final deed of purchase as well as the lease agreement, as the case may be, needs to provide full details of the vendor or lessor, as the case may be. This includes, in the case of an individual: the full name and surname, passport or identity card number and residential address. In the case of vendors / lessors that are not individuals, the details that need to be indicated include the name, company registration number, income tax registration number as well as the registered address.
2) Is not a beneficiary in terms of the below regulations:
- Residents Scheme Regulations;
- High Net Worth Individuals Rules; or
- Highly Qualified Persons Rules.
However an individual may renounce to the benefits provided under any of the above-mentioned Rules prior to submitting an application in terms of Malta Retirement Programme.
- an EU national (excluding a Maltese national); or
- a national of Iceland, Norway or Liechtenstein; or
- a national of Switzerland.
Is in receipt of a pension which is supported by the original documentary evidence. An individual is deemed to be receiving a pension if he is in receipt of: a. periodic payments paid in respect of past employment. This include where the services were rendered to
- State or political subdivision or local authority of the State; or
- remunerations paid as lifetime or temporary annuities; or
- regular income from an occupational retirement scheme, personal overseas retirement plan or insurance policies.
An individual will not be deemed to be receiving a pension if he is in receipt of a lump sum payment or any capital sum received by way of commutation of pension, retiring or death gratuity.
The entire pension declared in the application to be received by the individual in accordance with the documentary evidence must be received in Malta. Where a pension is not wholly received in Malta the beneficiary cannot apply. Furthermore this pension needs to constitute at least 75% of the individual’s Malta chargeable income for any particular tax year.
Therefore for any particular tax year, an individual’s chargeable income needs to be made up of at least 75% pension and 25% of ‘other’ income. All the chargeable income may be constituted of pension income.
Is in possession of a valid travel document, certified proof of which is submitted together with the application.
Is in possession of sickness insurance which covers himself and his dependents in respect of all risks across the whole of the EU normally covered for Maltese nationals. In the eventuality that the applicant is not in a position to transpose EU health rights or rights under a Reciprocal Agreement that Malta is a signatory to, the health insurance cover must be procured by a company licensed in Malta or by an international reputable health insurance company and a certified copy of the insurance policy needs to be submitted together with the application documentation.
Is not domiciled in Malta and does not intend to establish his domicile in Malta within five years from the date of application.
Is a fit and proper person. The individual is required to submit an updated police conduct certificate (accompanied with the Apostille Certificate as indicated below) accompanied by a sworn declaration before a Commissioner for Oaths in Malta confirming whether the individual was not found guilty of any civil or criminal convictions as well as providing a confirmation of any civil or criminal ongoing proceedings. If the individual was found guilty, details of such convictions need to be provided in a separate declaration signed in original by the respective individual. The Commissioner reserves the right to make further questions for the purposes of this requirement.
Has applied for a Registration Certificate in Malta in terms of the Free Movement of European Union Nationals and their Family Members Order (S.L. 460.17) and a copy of the acknowledgement or Residence Card/Document is to be submitted with the application.