Tax advantages and familiarity help to ensure Malta remains a wise investment for retirees looking to move abroad.

With 38% of over-55’s looking to move in the next few years, Malta offers them the chance to experience a life from home.

With just 40,000 inhabitants the communities may be small but the advantages will be big.

One of the main benefits is that concerning Maltese tax systems. Tax free overseas capital gains are just one of the perks available in the country with a lack of death duties and property or council taxes also making the area an attractive investment for those facing retirement.

Retirees that are considered eligible for the Residence Scheme will see a flat income tax of just 15%. To qualify for the scheme, individuals need an annual income in excess of €24,000 and, if approved, they must either a rent a home for at least €4,200 a year or purchase one with a value of more than €75,000 within a one year period.

Alongside the potential financial benefits of moving to Malta, the country also offers retirees a familiar landscape that is conducive to moving. As a former British colony, the country has retained a number of the practices and elements from their previous rule, giving the area a familiar feel.

This means that Malta is the perfect financial investment for older people, giving them a great overseas destination to move to that is both familiar and beneficial.

Transfer Money to Malta

If you are looking to invest in Malta, think carefully about how you will be transferring money to Malta. Foreign currency exchange rates quoted by banks are almost always worse than the exchange rates available through specialist currency dealers.

So if you are sending money to Malta – which you will inevitably have to do if you are looking to make a property investment, be sure to compare the market before you buy your overseas currency.