Top tips for retiring to Malta
By International Adviser, 6 Aug 18
Avoid retirement regret by asking these key questions before making the big move to Malta
Jason Porter, business development director at Blevins Franks, follows up his successful case study on Portugal with a look at retiring in Malta.
Tracey is 59 years of age and single. She received an inheritance from her grandparents 15 years ago, and from this has built a reasonably-sized buy-to-let portfolio.
She has lived off the rental income, and used the excess to save into Isas over the years. The value of her assets are as follows:
- Her main home in Redhill is worth £800,000 ($1.05m, €897,292);
- Her buy-to-let portfolio is worth roughly £2m, with an increase in value since 5 April 2015 of £100,000;
- She has Isas worth £200,000; and
- She has a self-invested personal pension worth £200,000.
Tracey is about to sell her main home, sell down her buy-to–let portfolio over the next 18 months, and make a completely new start in a new country.
She is very interested in history and culture, and passionate about art and architecture. Her first choice would be to move to Malta.
She has visited Malta on several occasions, and having looked at various types of property, believes £500,000 will provide a sufficient apartment. She intends to live by drawing down on her capital, but does not envisage needing more than £25,000 – £50,000 per annum.
Click through the slides above to see what Tracey needs to be aware of before moving to Malta.