Moving to Malta to retire

Asudler wrote:

Hi folks,  I am trying to learn the real truth about health care and taxes as I relocate from the US to Malta.   All information is helpful.   Thank you

Have you read all the posts on here about the subjects you are asking?
If you have never visited Malta I would suggest you have a holiday here, once everything is back to normal with regards to the virus.

Asudler wrote:

Hi folks,  I am trying to learn the real truth about health care and taxes as I relocate from the US to Malta.   All information is helpful.   Thank you

Assuming that you, as a TCN, have checked out that you will be allowed to retire here, then you will need private health cover and as a self sufficient resident would be liable to tax on all income remitted to Malta with a minimum, I believe, of €5,000 if your pension exceeds €35,000. Would suggest you talk to an accountant as I believe US as it's own rules on taxing it's Nationals living overseas as well as the Malta tax rules.
Be sure you will be allowed to move here and I would not consider it without visiting for a reasonable lenght of time.

Hi,

There is more than one residency scheme available and as a non-EU citizen, you will be required to either work and pay National Insurance contributions or have private health care. This is a requirement for residency. The income tax rate is up to 35% but there are special arrangements if your income is generated outside of Malta, whereby you pay EUR5,000 tax.

***
Regards

Mark

Malta expat advice wrote:

Hi,

There is more than one residency scheme available and as a non-EU citizen, you will be required to either work and pay National Insurance contributions or have private health care. This is a requirement for residency. The income tax rate is up to 35% but there are special arrangements if your income is generated outside of Malta, whereby you pay EUR5,000 tax.
***
Regards

Mark

Not only self promotion (From someone who has only been a member for a day) but just repeating basically what I said above. As the OP stated 'retiring' here the only option is 'self sufficiency' as working is not retiring!

Just to clarify, I typed my reply before yours came up so wasn't repeating anything - which would be pointless. Also, there is no mention of the person "retiring" here, hence why I made reference to paying Social Security contributions if they decided to relocate and work here.

Cheers

Malta expat advice wrote:

Just to clarify, I typed my reply before yours came up so wasn't repeating anything - which would be pointless. Also, there is no mention of the person "retiring" here, hence why I made reference to paying Social Security contributions if they decided to relocate and work here.

Cheers

Look at the title of the subject above, big clue.

Malta expat advice wrote:

Just to clarify, I typed my reply before yours came up so wasn't repeating anything - which would be pointless. Also, there is no mention of the person "retiring" here, hence why I made reference to paying Social Security contributions if they decided to relocate and work here.

Cheers

My reply was post number 3, yours was post number 4!
The heading of the OP was about retiring to Malta!

I believe if you retire to Malta and your income is Social Security, Malta has an agreement with the US as the US will still tax your SS, so you're exempt from paying taxes on it in Malta, that's what I've gleamed from the regs so far.