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    As a change from our usual helping of country-related trivia, here's a tasty selection of five "pub quiz" type general knowledge questions. Have a go!

Money matters

self sufficient question

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self sufficient question

Postby Just » Tue 7 Apr 2009 12:26 GMT

Hello

I have read on the board that the amount of money you need to claim self sufficiency to live in malta is 23, 300 euros.
My question is if you can prove that you have this amount of money available will it be taxable under the maltese system if you bank it in malta. Or can this amount be left in a uk bank account and transfered as and when you need it to live off.
I presume the 23, 300 is the capital amount you require regardless of how long you decide to stop in malta.
This amount appears to be very low especially if you cannot get work straight away in order to support your living costs whilst you are in Malta.

For example if my husband & I decided to rent a property of 300 euros per month, plus electric/gas/water/insurance/transport costs etc - I would estimate in our first year of living in malta we would soon spend well in excess of 5000 euros. Without a job we would spend all our capital of 23, 300 within 4/5 years.

When do the maltese government intervene or is the 23,300 amount for self sufficiency grounds has to be shown on a yearly basis for every year, you intend to spend in malta.

Sorry if I appear to ramble or if I have completely lost the point on the grounds of self sufficiency.

Thankyou
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Postby gozomark » Tue 7 Apr 2009 12:38 GMT

Hi Just, and welcome to the forum :D

I'm assuming you are EU citizens

this amount be left in a uk bank account and transfered as and when you need it to live off. - it can be left outside of Malta

I presume the 23,300 is the capital amount you require regardless of how long you decide to stop in malta - yes thats right (*), but they only issue you a 5 year permit, which ties in nicely with your 4/5 year estimate

When do the maltese government intervene or is the 23,300 amount for self sufficiency grounds has to be shown on a yearly basis for every year, you intend to spend in malta.
- you only have to show self sufficiency when you apply for a permit, ie every 5 years

hope that clarifies matters

* as per
http://www.britishexpat.com/expatforum/ ... hp?t=21120

Economically self-sufficient persons

capital of at least €14,000 or a weekly income of €84.95 or, in the case of a married couple, a capital of €23,300 or a weekly income of €93.10
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Postby Just » Tue 7 Apr 2009 12:47 GMT

Thank you gozomark - that makes it a little clearer now.

By the way - great website - very useful indeed!
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Postby gozomark » Tue 7 Apr 2009 12:48 GMT

a pleasure to help :D
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