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Retirement Programme Residencies Plan of Malta (Europe)
Retirement Programme
You must not be an employee, although you may carry non-executive posts on the boards of companies, foundations or other organizations.
You must have a pension, which must be received in full in Malta and represent at least 75% of your income chargeable in Malta. This means that any income other than your pension cannot be more than 25% of the total income remitted to Malta.
The pension may be a government pension, periodic payments in respect of past employment, remunerations paid as lifetime or temporary annuities or regular income from an occupational retirement scheme, personal overseas retirement plan or insurance policies. Lump-sum pensions do not qualify.
You will be required to purchase a residential property with a value of at least €275,000, if located in Malta, or €220,000 if located in Gozo or in the South of Malta. The property cannot be leased to a third party, if you hold the residence permit under this scheme.
Alternatively, instead of purchasing a property, you may rent a property in Malta, with a minimum annual rent of €9,600, if in Malta, or €8,750 if in Gozo or in the South of Malta. You must reside at least 90 days per year in Malta on average over a five-year period.
You must be a tax resident in Malta, and therefore you must not reside in another country more than 183 days per year.
Your period of stay under this program does not qualify for a long stay/permanent residence visa.
Under this program, your income accrued outside Malta, remitted to the country, will be taxed at a flat rate of 15%, provided that the minimum tax payable is €15,000. You may also benefit from the tax treaties concluded by Malta to claim a tax relief for tax paid abroad.
Requirements
- At least 18 years of age.
- Be a national of EU/EEA/Switzerland.
- Registration certificate confirming your entitlement to reside in Malta.
- Possess comprehensive health insurance.
- Clean criminal record.
- Not to be a potential threat to Malta's national security, public policy or public health.
- Not deemed to be against the public interest.
Restricted Nationalities
Non Economic European Area
dual citizenship
Dual citizenship is recognized in Malta. You are not required to renounce your previous nationality to become a citizen of Malta.
Documents Required
- Evidence of Health Insurance
- Original Police Clearance Certificate
- Original Bank Reference Letter (Not older than 6 month)
- Medical Certificate
- Undertaking to purchase property
- Undertaking to rent property
- Affidavit of support for Dependents
- Certified copy of passport
- Original or Certified copy of Birth Certificate (if applicable)
- Original or Certified copy of Marriage Certificate (if applicable)
- Six passport-size photos
- Statement of Source of Funds
- Proof of pension
- dual citizenship Yes
- Family members included Yes
- land ownership Yes
- Physical residence required Yes
- Personal visit required No
- Language skills required No
- Interview required No
- Investment Single -
- Investment Family 4 -
- Minimum annual income -
- Time to citizenship
- Time to permanent residency
- Visa-free countries 167
- Financing available No
Malta
The Republic of Malta is a densely-populated archipelago, located in the center of the Mediterranean, to the south of Italy, east of Tunisia and north of Libya. Malta is a former British colony, and currently a member of the European Union, the Schengen Area and the Commonwealth. It has about half million inhabitants. Its capital is Valletta, although its most populated urban center is Birkirkara, with over 22,000 inhabitants. Its official languages are Maltese and English. Since 2008 its legal tender currency is the Euro.
- National Flag of:Malta
- Currency:EUR
- Area Code:356
- Capital:Valletta
- Continent:Europe
- Native Languages:Maltese, English
- Population:403,000
BENIFITS
With your new passport from Malta you'll be able to access 167 countries visa free
temporary residency benefits Peaceful democratic and politically stable country Travel visa-free across the European Union Low tax jurisdiction High quality of life Well-connected airport Be eventually eligible for citizenship Business-friendly policies Low crime rate country English speaking country Warm climateFEES
| ITEM | AMOUNT |
|---|---|
| processing fees main applicant | €2 |
| 500 | |
| total fees main applicant | €2 |
| 500 |
TAXES
Malta levies personal income taxes on a residence and domicile basis. An individual is deemed to be a tax resident if he or she spends more than half year in the country, and is deemed to be domiciled in Malta if their permanent home is in Malta. Becoming a Maltese citizen does not automatically make you a tax resident or deemed to be domiciled in Malta.
Maltese ordinarily resident and domiciled in Malta are subject to personal income tax on their worldwide income and capital gains.
Maltese ordinarily resident and not domiciled in Malta are taxed on their income and capital gains arising in Malta and on income arising outside Malta that is remitted to Malta.
This means that if you are a Maltese resident non-domiciled (permanent home) in Malta, only your Maltese-source income and capital gains and your income remitted to Malta may be subject to tax. Foreign-source income not remitted and capital gains (remitted or not) may be tax-exempt.
Non-residents are only taxed on their income and capital gains from Malta.
Personal income tax rates are progressive from 0% to 30%. Capital Gains are taxable income. However, gains from the disposal of immovable property are taxed at lower rates of 8%, 10% or 12% depending on the circumstances. Property purchased under the citizenship by investment program can be sold tax-exempt after the mandatory 5-year period, provided that the property is held for a period of 3 years as the owner’s ordinary residence.
In Malta, there are no inheritance, real property, net wealth and municipal taxes. There is a stamp duty applied on certain transfers such as real property or securities. Value-added tax is 18%.
Malta is the jurisdiction chosen by many international companies and holding companies, to establish their headquarters and do business in the European Union.
As of December 2018, Malta enacted the EU ATAD rules, which include a rule on Controlled Foreign Companies (CFCs) for the first time.
Although its standard corporate tax rate is 35 percent, in practice there is a system of tax credits and refunds for shareholders reducing to effective tax rates of between 0 and 10 percent. Learn more about Malta’s Corporate Taxation, Legal Framework and tax treaties at incorporations.io/malta.
| TAX ITEM | DESCRIPTION |
|---|---|
| Property tax | No |
| Transfer tax | No |
| Inheritance tax | No |
| Net worth tax | No |
| CFC law | No |
| Tax residency days | 183 |
| Personal income tax rate | 15% |
| Capital Gains tax rate | 12% |
| Investment income tax rate | 15% |
| Territorial taxation | Yes |
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