September 27th, 2023 at 05:37 pm
Retirement Visa for Malta
Malta is the ideal place to spend your retirement: a small island with sunny weather, stunning architecture, hospitable locals, and easy access to other Schengen nations.
On the other hand, moving abroad and retiring abroad are significant decisions. You will find all the information you require here if you choose to retire to Malta.
Conditions of the Malta Retirement Visa
You need to fulfill the following requirements in order to apply for a retirement visa to Malta:
- You have to be at least the required retirement age.
- You have to be retired at age 65 if you were born on or after January 1, 1962.
- You are eligible for an early pension at age 61 if you were born on January 1, 1962.
- You have to be a Malta property owner or renter. The minimum valuation of the property must be €275,000, or €220,000 in Gozo and the southern regions of Malta. A property must be rented for at least €9,600 per year, or €8,750 in Gozo and the southern parts of Malta.
- You can’t possibly be employed. Even though you might not have a salary, you could hold a non-executive position with many businesses, foundations, or other associations.
- Pensions are the source of your income. When you live in Malta, you have to make sure that at least 75% of your chargeable income comes from your retirement.
- You are not allowed to stay in any other Schengen nation save Malta for fewer than 90 days in a year or longer than six months.
- You need to be in excellent physical health.
- The €2,500 administrative charge is yours to pay.
- You do not plan to move to Malta permanently, at least not in the next five years.
Requirements for a Malta Retirement Visa
To obtain a retirement visa for Malta, you must submit the following documents:
Passport.
Two blank pages and three months beyond the return date are required for the passport. Please submit copies of your previous visas.
Form of application.
Make sure you fill out the application form completely and sign it. Avoid leaving any empty spots.
Health coverage.
For the duration of your visit, you must have valid health insurance in Malta.
Statement from the bank.
Your most recent six-month bank statement. This paperwork attests to your financial stability.
Medical certification.
Evidence of your excellent health.
Six Photos.
Your images have to be passport-size, colored, with a light background, and taken no more than six months ago.
Evidence of pension.
Provide documentation, such as a pension certificate, attesting to your pension status.
Declaration of accommodation.
This document could be a property deed, a rental agreement, or a home.
Criminal History.
This paper was sent to you by the police in your nation of origin. Evidence of your lack of criminal background is required.
*The original or authenticated documents must be translated into Maltese or English. Your visa application may be denied if any documents are missing.
How Do You Apply for a Retirement Visa to Malta?
Your first point of contact should be the Maltese embassy or consulate in your place of residence in order to apply for a retirement visa. They will advise you as to whether you require an entry visa and what your criteria are for a visa.
An application for a residency permit is also required. Maltese residency permits are issued by the Identity Malta Agency. A retirement dwelling permit has a five-year validity period, however, it can be extended if the same requirements are satisfied.
It is not necessary for you to turn in your application in person. Your family members or friends may apply on your behalf and submit the necessary paperwork, but an official registration is required.
Time Needed to Process a Retirement Visa for Malta
A retirement visa for Malta may take three months to process. An answer from the embassy may come in sooner or later than three months, depending on when you apply and the specifics of your case.
How much time is allowed for a retiree to stay in Malta?
A five-year Malta retirement visa is granted. Indefinite extensions or renewals of this visa are possible as long as you fulfill the basic requirements.
Malta’s Retiree Health System
One of the nations with the greatest health insurance in the world is Malta, according to ratings. It provides health insurance to the fullest extent possible and runs on a two-tiered structure (public and private). The purpose of this approach is to reduce wait times and costs.
The System of Public Health. The government healthcare system also referred to as public healthcare, provides all medical services and specialists to its citizens at no cost. Examples of these services include:
- Prescription of drugs.
- Pregnancy products.
- Hospitalization.
- Rest and rehabilitation
Hospitals and public healthcare systems offer secondary and tertiary care as needed.
Foreign visitors who remain in Malta for more than three months are also eligible for health insurance, which is subject to the same taxes.
Note: The vast workforce that contributes to the national insurance system and tax revenue bears the costs of covering any medical expenses.
The System of Private Healthcare.
The private healthcare system is excellent as well, providing all the necessary services. On the other hand, private health insurance is more expensive than public health insurance. Private healthcare comes in three flavors: Essential, Special, and Exclusive. Whichever of these packages you choose to buy will depend on the kind of healthcare you can afford.