Can You Have Your Own Residence in Malta If You Qualify for MRP?
The Malta Retirement Program has definitely started to attract a lot of individuals from the EU and other surrounding countries into Malta. Under this program, you are able to live your post-retirement life in Malta, enjoy the sunny days, take a walk on the beautiful beaches, and do much more while getting a pension every month. Naturally, your pension will be generated in the country that you have lived and worked in all your life. When you remit that pension into Malta, you pay only 15% tax and enjoy the rest of the income for your living.
While Malta Retirement seems like the perfect thing to do after the launch of this program, can you completely stop wondering about your residence in the country? What if you want to own a property in the country so you do not have to deal with the landlord? You will be glad to know that Malta offers you a perfect program to live in your own home after retirement.
However, there are certain conditions that you have to fulfill before you can reside in the country in your own residence. If you want to own a property in the country and live in it, you will have to make sure you have at least €275,000.
Of course, other options do not vanish just because you qualify to buy your own residence. If you want to live as a tenant, you just have to make sure that the yearly rent that goes out of your pocket must not be less than €9,600 monthly.
That might seem like a lot of money to some but if you compare it to the amount of money you will save while living on the archipelago, you will not mind spending it after all. So, it is not up to you to decide whether you want to live on rent or in your own house.