Residence permit on Malta
|Minimum government bonds price||250 000 EUR|
|Purchased real estate price||From 320 000 EUR|
|Financial contribution||30 000 EUR|
|Minimum annual tax||15 000 EUR|
|Length of the process||1 - 2 months|
|Visa-free travel||European Union|
Malta offers two different residence permit programs for those foreigners who wish to become country’s residents and pass the residency to their family members – an Indefinite Residency program through investment in government bonds and Global Residency Program.
According to European Union (EU) statistics on international immigration collected in 2015, 6 300 of the immigrants had one of the EU Member State as their previous residence, 6 500 had one of the EU non-member country as their previous residence.
If you are willing to know more about the program or apply now – contact us!
A foreigner is eligible to apply for a Maltese residence permit, if he or she has reached legal age of 18 years, has no criminal record, does not have been refused entry to any of the Schengen countries, has stable income, a good health, can make a particular type of contribution within 4 months after receiving a Malta IIP Letter of Approval in Principle and can meet all the investment requirements listed below.
In order to acquire a residency permit of Malta on the grounds of bond acquisition the following requirements must be met:
- The purchase of government bonds must be made in the amount not less than 250 000 EUR for a 5-year time period;
- The purchase of a property, costing not less than 320 000 EUR (270 000 EUR in some specific areas) on the island for personal use, or renting a property for at least 12 000 EUR per year (10 000 EUR in certain locations);
In order to acquire a residency permit of Malta within the frames of Global Residency Program:
- The purchase of residential property which costs not less than 275 000 EUR or 220 000 EUR, if it is located on the South of the Malta island or on the island of Gozo;
- A property rental with minimum annual rent at least 9 600 EUR or 8 750 EUR, if it is located on the South of the Malta island or on the island of Gozo.
In order to apply for a residence permit, the following documents must be presented:
- a copy of passport;
- passport-sized photos;
- a copy of driver’s license/ID (if applicable);
- a definite sample form for a residence permit request;
- a police clearance certificate;
- a health certificate;
- a certificate from the Maltese Bank, stating that the person is really the only holder of the investment for a period not less than 5 years;
- a travel/health insurance (prepared and submitted after a positive decision is issued).
Other documents may be requested as well by the Immigration Office on case-by-case basis.
State fees and costs
When applying for a residence permit on Malta the following state fees and extra charges are to be covered (apart from the volume of investment):
- contribution to the State Fund of Malta 30 000 EUR;
- non-returnable advance fee of 5 500 EUR (6 000 EUR) when submitting an application, covering due diligence checks;
- minimum annual tax 15 000 EUR.
General time frames for obtaining residence permit on Malta are 1 - 2 months. A renewable residence permit is granted for 5 years, the investment is maintained for the first 5 years.
However, Immigration Office may extend the case hearing period on case-by-case basis.
Benefits of holding Maltese residence permit
Holding a Maltese residece permit will provide you the following advantages:
- access to social benefit system: education system, healthcare etc.;
- double taxation relief on the grounds of residency;
- reliability of investment due to high rating of Maltese bonds;
- government guaranteed return of the entire amount invested in 5 years;
- free movement and living in the 26 countries within the Schengen zone;
- visa-free travel.
Contact us now, if you still have any questions!