The Malta Retirement Programme (MRP) is a tax residence programme which provides a beneficial tax rate to individuals looking to retire in Malta. The MRP provides for a beneficial tax rate of 15% on foreign income which is received in Malta, subject to a minimum annual tax of €7,500. The individual's pension must be wholly received in Malta and must constitute not less than 75% of the total chargeable income.
In view of the fact that this is a tax residence programme, our tax team plays an essential role in advising clients who are looking to retire in Malta about the benefits of the MRP. Individuals who obtain tax residence in Malta through the MRP will be considered to be tax resident but not domiciled in Malta and therefore only taxable on remittances (and not on worldwide income). Our team at Seed ensures that all the conditions are satisfied in order to be certain that the application will be accepted, and the individuals may become resident, and benefit, through the MRP. Also, we support annual compliance to the programme. Benefits of the programme include: