Becoming a resident by The Malta Retirement Programme

If you are a Finnish citizen, you dont need to use the retirement programme to move to Malta, you can just move here as long as you can show sufficient financial resources and heathcare. Are you of official retirement age in Finland ?

My pension is for life so that´s not a problem. The retirement programme offers me a flat rate of 15% of tax per annum. That´s why I thought it´s a must... ?

Edit: I´m not even close to official retirement age here in Finland.

well, it depends on how big your pension is, and how much of it you will bring into Malta :-) You can be tax resident in Malta without going through that scheme.

Its important as to whether you are of state retirement age, in terms of transferring your healthcare right from Finland, no just whether have a pension

you need to look at the 2 options

1. flat 15% tax on anything you bring in, plus the minimum rent or purchase of property
or
2. sliding scale tax  on anything you bring in, with a tax free allowance, with no  minimum rent or purchase of property

Based on a quick calculation, 1 is worth considering if the amount of income you would bring into Malta each year would exceed about € 30-35,000 - thats income - capital or capital gains can be brought in tax free

My pension is over 60.000€ per year and rising. That´s why I´m interested in the flat rate of 15%.

And of course I will be bringing it all to Malta by monthly transactions.

OK :-)

Should I hire some firm to assist me through this process and if so- any idea on the cost of this sort of services?

not sure of cost, but can recommend my accountant John Huber, who I've used for 12 years, and no accountant knows more about residency issues than him, as he advises the government :-)


http://www.johnhubermalta.com/

Thank you George for your quick responses! Really appreciate you helping me figure things out.

Found the answers I was looking for from John Huber´s website which was kindly posted by georgeingozo.

"Applications can only be submitted through an Authorised Registered Mandatory

Once an EU / EEA / Swiss national has acquired the right to reside in Malta in terms of a Registration Certificate, one may also apply for a tax status in terms of the Malta Retirement Programme (MRP). Put simply, the entire pension/s must be declared in Malta and the pension/s shall constitute at least 75% of the total income chargeable to tax in Malta. Tax shall be a flat rate of 15% on the gross pension/s that shall be chargeable to tax in Malta. There is a minimum tax liability of €7500 per annum which is increased by €500 for each dependent. Husband and wife must pay a minimum of €8000. All individuals resident in Malta and benefitting from the Malta Retirement Programme must not reside in any other single jurisdiction for more than 183 days in any year and must also reside in Malta for a minimum of 90 days a year averaged over any five-year period.
Application process documents:

4 passport sized photographs (colour) for each applicant
Birth and Marriage Certificate
Copies of Passports (page of personal details)
A Police Conduct Certificate in English.
A declaration on Oath or a Solemn Declaration stating that the individual does not have any ongoing criminal or civil proceedings.
Original Statement/s from the pension provider stating the full pension details
Health Cover – this may be either by the transposition of EU Health rights via the S1(E121) or by having private medical healthcare.
A non-refundable administrative fee of €2500
In order to qualify for the Malta Retirement Programme status, the applicant must either own property or lease property in Malta or Gozo. Lease must be taken for not less than a twelve month period and evidenced by a certified lease agreement submitted together with the application.

The minimum amounts are as follows:

Purchase of Property in Malta €275,000
Purchase of Property in Gozo €250,000
Lease of Property in Malta €9,600 annually
Lease of Property in Gozo €8,750 annually"