Retiring in Malta – The Ultimate Guide by Experts

1. Malta Permanent Residence Visa

Malta’s permanent residency program allows non-EU nationals to live in Malta and enjoy the added benefits that come with that, from access to free healthcare and education systems, to traveling a large portion of the world visa-free.

Successful applicants who become permanent residents must renew their Maltese permanent residence permit each year to legally stay in the country. Do note that the permanent residence visa only allows you to live in Malta, not work in the country. Meaning, you can receive your retirement income at home, but can’t work during your retirement in Malta. If you plan on working there, you could apply for the Malta work visa instead.

Requirements of the Maltese Permanent Residence Permit:

• Have a net worth of at least €500,000
• Hold a clear criminal record
• Go through the interview stage
• Open a Maltese bank account
• Once you obtain permanent residence, you must purchase a house worth at least $300,000

2. The Malta Permanent Residence Program

The Malta Permanent Residence Program (MPRP) is Malta’s residency by investment program which enables successful applicants to obtain a Certificate of Maltese Residence, entitling them to reside in Malta with their family members indefinitely. The program is ideal for individuals with enough capital assets looking to enhance their mobility and quality of life.

Requirements of the Malta Residency By Investment Scheme:

Applicants must fulfill the following eligibility criteria:

• Be third-country nationals (non-EU), non-EEA and non-Swiss nationals
• Not belong from a sanctioned country, as stipulated by the Agency, nor benefit from other regulations and schemes
• Have enough financial resources to sustain themselves and their family members, without leaning on Malta’s social assistance system
• Bank account statements demonstrating they have enough capital assets of no less than €500,000, from which a minimum of €150,000 must be in financial assets
• Hold a clean criminal record and be considered fit and proper
• Not pose any potential threat to Malta’s national security
• The application must be lodged with a Licensed Agent
• Applicants must cover all administrative fees under the program
• Hold a valid travel document
• Take out a European health insurance card that covers all risks across Malta
• Possess travel insurance when traveling across the Schengen region

3. Malta Citizenship by Naturalization Program (CES)

While you cannot directly acquire Malta citizenship by investment, you can qualify for Maltese citizenship by way of naturalization through the nation’s new scheme. Officially referred to as the Maltese Citizenship Act Granting of Citizenship for Exceptional Services Regulations, the Malta Citizenship by Naturalization for Exceptional Services by Direct Investment (CES) is the government’s new policy for its previous Investor Visa awards foreign investors with a certificate of naturalization that registers them as Maltese citizens. They must first place a qualifying investment in the nation’s economy, and meet the stipulated stay requirements

For non-EU expats interested in retiring in Malta permanently, the CES investment program is a good choice, with a Maltese passport being possible in just under a year. The high-ranking Malta passport is an excellent option for seniors wanting the chance to live or travel within the European Union freely, with a great tax system that’s advantageous to foreigners with residential status.

For example, individuals are not taxed on their worldwide income — meaning they are neither subject to foreign-sourced capital gains tax nor foreign income tax. They are also not subject to any inheritance tax or gift tax, among others, even if they are considered a tax resident. These are just a few examples of the exemptions offered by Malta to both its tax residents and non-tax residents under its incredible taxation system.

Requirements for the Malta Citizenship by Naturalization Scheme:

• You must make an exceptional direct investment to the Maltese government, invest in commercial or residential property, and make a charitable donation totaling the value of or above €690,000 + costs. You must either invest €700,000 into residential real estate, or enter into a rental agreement at a minimum value of €16,000 per annum which must be maintained for five years.
• Hold a clean criminal record
• Be in good health

Malta Property Outlook for Retirement

Where to buy real estate in Malta largely depends on your lifestyle preferences, financial outlook, and whether you prefer city life or more peace and quiet. In general, you have two options for buying Malta real estate: buy an immovable property by itself or under the CES program.

To qualify for the program, you must make a Malta real estate investment worth at least €700,000, or enter into a rental agreement at a minimum value of €16,000 per annum which must be maintained for five years, on top of other investments. This investment, in a way, is considered the Malta Golden passport cost, and is a highly recommended option for retirees looking to get the most out of their residency in Malta, since they can get a passport in Malta in little to no time and travel around the European Union freely.

Some of the best cities to buy property in Malta include Sliema, St. Julian’s, and Gzira. These cities are renowned for the range of restaurants, nightlife, shopping places on offer, as well as stunning coastline lookout points. Valletta and Mdina are also good cities to buy homes in, as they boast beautiful architecture, a rich culture, and offer a more fast-paced lifestyle.