Legal Notice 269 of 2014 has amended the Malta Retirement Programme Rules which were originally promulgated in 2012.
The amendments have reflected the thresholds and standard of the Global Residence Programme (a special tax status available only available for non-EU, non-EEA and non-Swiss nationals), bringing all the Maltese 'programmes' in line.
Amongst the amendments one finds the inclusion of the option of including household staff in the application.
The Property value has also been slightly amended to €220,000 when the property is in the south of Malta or in Gozo, while no change has been made if the property is in Malta (€275,000). The rent thresholds have also remained the same €9,600 for leases in Malta and €8,750 for leases in Gozo or the south of Malta.
However, the notion of reduction if the property is in the South of Malta has been included in both purchase and lease. This has been done to promote the sale of property in the South of Malta, which tends to be not so popular with foreign nationals.
The beneficiary of the Malta Retirement Programme must be an EU/ EEA/ Swiss national who is not in employment.
The application for the Malta Retirement Programme Rules must be completed and submitted by an Authorised Registered Mandatory and in this respect CSB Group is registered as an Authorised Registered Mandatory and may assist you in this matter.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
