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Malta - Retirement Programme (MRP)
The Malta Retirement Programme (MRP) is a residency programme that is designed for EU/EEA/Swiss nationals and non-EU/EEA/Swiss nationals who are 55 years of age or older and who are not in employment in Malta. The programme provides retirees with an opportunity to retire in Malta and enjoy various tax benefits.
Here are some of the key features and benefits of the Malta Retirement Programme:
- Tax benefits: Retirees who participate in the MRP are subject to a flat tax rate of 15% on their foreign source income remitted to Malta, with a minimum tax liability of €7,500 per year. Retirees are also exempt from tax on any capital gains arising outside Malta.
- Property requirements: Participants in the MRP must either purchase or rent a property in Malta. The property purchase must be of a minimum value of €275,000 or if they choose to rent, they must rent a property for a minimum of €9,600 per year.
- Health insurance: Participants in the MRP must have health insurance coverage that is valid in Malta.
- Minimum income requirements: Retirees must demonstrate that they have a minimum annual income of €24,000, which can be derived from pensions, annuities, investments, or any other regular income source.
- Duration of the programme: The MRP is valid for a period of ten years and can be renewed thereafter, subject to certain conditions and requirements.
The applicant must not become domiciled in Malta and must reside in Malta at least 90 days a year averaged over any five-year period. The applicant must not reside in any other jurisdiction for more than 183 days in a calendar year.
The Malta Retirement Programme is an attractive option for retirees who are looking to spend their golden years in a tax-friendly and picturesque country like Malta. However, it’s important to note that the programme is subject to certain conditions and requirements, and retirees should seek professional advice to ensure that they comply with the relevant rules and regulations.
