The Malta Retirement Programme (2012) is a programme designed to attract nationals of the EU, EEA and Switzerland, who are not in an employment relationship and are in receipt of a pension as their regular source of income.
Individuals benefitting from the special tax status under the Malta Retirement Programme (MRP) rules, may hold a non-executive post on the board of a company resident in Malta and may partake in any activities related to any institution, trust or foundation which is of a public nature and which is engaged in philanthropic, educational or reserach and development work in Malta.
Successful applicants to this programme will benefit from a reduced flat taxation rate of 15% on any pension income received in Malta.
The MRP rules outline the conditions necessary to benefit from this special tax status, being :
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Must own or rent an immovable property in Malta or Gozo, which is his/her principal place of residence worldwide. If owned in Malta, the minimum value must be €275,000 and if owned in Gozo, the minimum value must be €250,000. If rented in Malta, the minimum annual rental payments must be €9,600 and if rented in Gozo, the minimum annual rental payments must be €8,750.
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Must not be a beneficiary in terms of any of other advantageous tax regulations including Residents Scheme Regulations, High Net Worth Individual Rules or Highly Qualified Person Rules.
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Must be an EU national, a national of Iceland, Norway or Liechtenstein or a national of Switzerland.
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Must be in receipt of a pension which is wholly received in Malta. Such pension must constitute at least 75% of the individual’s chargeable income in Malta in one year. The remaining 25% may consitute other income.
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Must pay a minimum tax of €7,500 annually and a further €500 in respect of every dependant and special carer (if any).
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Must possess a valid travel document.
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Must possess an EU wide health insurance cover for himself and his dependants.
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Is not domiciled in Malta and has no intention of establishing his domicile in Malta within 5 years from the date of the application.
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Is a fit and proper person and must submit a recent police conduct certificate.
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Has applied for resideny in Malta.
All applications must be submitted by an Authorised Registered Mandatary and in fact, we are registered as an Authorised Registered Mandatary with the Inland Revenue in Malta, and we can tehefore assist you in your application process.
