malta-retirement-programmeRetire in Malta by participating in the Malta Retirement Residency Program is a very good idea.

Malta and Gozo are really safe places to retire with a high quality of life. The weather is always beautiful, the people are very kind and educated. The English language is the second official language, everybody speaks it. Malta is in the middle of the Mediterranean Sea, from there it is very easy to reach Italy, France or any other European countries, but the Maghreb and other North African states are also close. The health care system is very good, even on the tiny island of Gozo there is a modern, fully equipped hospital.

Malta and Gozo are ideal places for someone to retire.

The Malta Retirement Programme was made for citizens of the European Union who want to settle in a quiet place and enjoy life.

The rules and requisites of the Malta Retirement Program:

– The applicant either has to buy his/her own property, the minimum price of it in Gozo is 250.000 euros or 275.000 euros in Malta,
or have to rent a property, at least for one year, in Gozo for a minimum yearly amount of 8750 euros, in Malta 9600 euros.

– The applicant has to remit at least the 75% percent of his/her income (pension and other sources). The chargeable minimum is 37.500 euros.
– The applicant has to have a health insurance, which must cover the applicant and the dependents.

– The required documentation is easy to collect. Only basic documents needed, like passport, marriage and birth certificates, police conduct certificates, bank reference letter, etc.

– There is one not refundable administration fee for the government: 2500 euro.

– In Malta the remitted pension income is taxable at flat rate 15%. The dependents of the applicant will pay only 15% beneficial rates.

Related articles:

The new Malta residence programme 2013

Who qualifies for the Malta HWI residency program? 

Tax planning and residency in Malta.