Tax and Bank Accounts

I'm coming over to Malta in the firat week in March, to view potential properties to rent on a long term basis with a view to settling in Malta by the end of 2020.

I've done a lot of research in the UK regarding the above topics. I'm a retired UK citizen and currently receive the UK state pension, plus I have 5 occupational pensions. Should I keep my UK bank account or try to open a Maltese account? I appreciate that I need to take into account exchange rates, but would appreciate some advice from other UK expats.

AdrianTrew :

I'm coming over to Malta in the firat week in March, to view potential properties to rent on a long term basis with a view to settling in Malta by the end of 2020.

I've done a lot of research in the UK regarding the above topics. I'm a retired UK citizen and currently receive the UK state pension, plus I have 5 occupational pensions. Should I keep my UK bank account or try to open a Maltese account? I appreciate that I need to take into account exchange rates, but would appreciate some advice from other UK expats.

Welcome to the Forum.
You may find coming over next month will be too early for landlords to commit.  With regards to bank accounts, most people have one here but have their pensions paid into their
UK account, we use Transfer Wise to transfer money to over here as the exchange rate is better.
Good Luck.

Many thanks for your reply.

Whilst you are in Malta have a look at Gozo a quieter place to retire to.

Will do thanks. Is there much difference in rental costs in Gozo?

gozo is cheaper to rent and have better public transport.

Also consider Revolut for a day to day card leaving bulk of your money in a UK account, Revolut use transferwise for transfers - so good rates - and many places here are starting to make revolut to revolut transfers really easy etc

AdrianTrew :

Will do thanks. Is there much difference in rental costs in Gozo?

As mentioned Gozo is cheaper then Malta but prices have increased a lot  in the seven years we have lived here, good luck with your search.

Thanks for your help and advice

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