MALTA introduces a very attractive Residence and Visa Programme
We have some good news for you.
Those of you who are considering taking up residence in Malta are in for a treat with the all new Malta Residence and Visa programme.
Launched in September 2015, the new programme follows on the success of the Malta Individual Investor (Citizenship) Programme and allows the beneficiaries together with their registered dependents to reside, settle or stay indefinitely in Malta.
The programme is managed by Identity Malta, whose role is to examine applications and issue certificates where all criteria required are met. Eligibility to the Malta Residence and Visa Programme requires applicants to satisfy a three-tier investment, including:
- An initial contribution of €30,000 (non-refundable), in the manner as requested by Identity Malta
A Qualifying Investment in a form determined by Identity Malta having an initial value of €250,000. This investment ought to be held for a minimum period of 5 years from the date of the issue of the Malta Residence and Visa Programme certificate;
- Hold title to a qualifying property, be it through outright purchase or long term lease, which must be held for a minimum period of 5 years from the date of issue of the certificate.
- Either ownership of an immovable property purchased for not less than €320,000 for property situated in Malta, or €270,000 for a property situated in Gozo or in the South of Malta; OR
- Leasing of an immovable property for a rent of not less than €12,000 per annum in the case of property situated in Malta or €10,000 per annum in the case of property situated in Gozo or in the South of Malta.
Any individual interested in applying for this programme is required to do so through a registered approved agent or accredited person.
The application fee, due to the Authority, is set at €5,500, which is non-refundable and constitutes a part payment of the contribution.
Other general requirements for a person to be issued a certificate under the Malta Residence and Visa Programme demand that such person:
- Is at least 18 years of age;
- Is a third-country national (i.e. non-EU/EEA/Swiss);
- Is not a long-term resident;
- Is in possession of sickness insurance in respect of all risks across the whole of the European Union normally covered for Maltese nationals for himself and his dependants;
- Has an annual income of not less than €100,000 arising outside of Malta or in possession of capital of not less than €500,000;
- Commits himself to provide proof of title of a qualifying property in Malta in accordance with these regulations;
- Commits himself to invest in a qualifying investment;
- Commits himself to pay in full the contribution in terms of these regulations.
- Is not a person who benefits under other programmes, including;
- The Residents Scheme Regulations
- The High Net Worth Individuals – EU / EEA / Swiss Nationals Rules
- The Malta Retirement Programme Rules
- The Residence Programme Rules
- The Qualifying Employment in Innovation and Creativity Rules
- The Highly Qualified Persons Rules
The certificate issued under these regulations shall be monitored annually for the first five years and every five years thereafter.
All individuals who are beneficiaries of the Global Residence Programme shall be allowed to apply for the issuance of the certificate in terms of these regulations.
Contact us for more detailed information about the Malta Residence and Visa Programme and to advice you about the best real estate solutions in Malta and Gozo and a Qualifying Investment as well.