Malta Permanent Residence, New Requirements in 2021
Among the countries offering European residency, Malta is less known among investors. But with the new changes made to Malta’s residency by investment program, the name of this beautiful Mediterranean country has risen to fame once again.
Investment in Malta and obtaining Maltese residency will convey rights and privileges similar to any other EU country. We are going to find out what the main changes of Malta Permanent Residence Program are:
- The €250,000 bond-investment requirement is removed completely.
- The property investment minimums have increased to €350,000.
- The donation amount has been changed according to the choice of investment.
- The cost of adding a dependent to the application has changed.
To take a closer look at the requirements of this program, let’s review the terms and conditions below.
Financial & Investment Requirements to Get Malta’s Permanent Residency
Interested investors willing to obtain permanent residence in Malta, must meet all of the following financial requirements:
- Purchase or rent a property conforming to the regulations:
Purchasing a property:
- With the minimum value of €350,000 in the northern and central parts of Malta.
- With the minimum value of €300,000 in the south region or Gozo.
Or renting a property:
- Minimum rental of €12,000 per year in the northern and central parts of Malta
- Minimum rental of €10,000 per year in the south region or Gozo.
- Make a non-refundable government contribution according to the choice of the method of investment:
- The amount of €28,000 – if buying a property.
- The amount of €58,000 – if renting a property.
- Make a non-refundable contribution of €2,000 to a Maltese-registered charity.
- The administrative fee charged by the government is €40,000, paid within two parts:
- €10,000 of which need to be paid within one month from the submission of the application.
- €30,000 payable within two months from the issuance of the letter of acceptance.
In case of adding dependents to the application, the below costs will be also charged:
- €7,500 for the spouse of the main applicant.
- €7,500 per parent or grandparent of the main applicant or of the spouse.
- €7,500 for the spouse of a dependent.
- €5,000 for each and every other person who may be included on a certificate.
To be qualified for Malta’s residency program, the main applicant must demonstrate the proof of his assets for no less than €500,000, at least €150,000 of which must be held in the form of securities.
What are the Conditions to obtain Malta Golden Visa?
In addition to the general documents and financial requirements as set out in regulation, the eligibility criteria for an application, for the main applicant and any of his dependents, shall be as follows:
- He is a third-country national and is not a Maltese, EEA or Swiss national.
- He holds a qualifying property for a minimum of 5 years.
- Main applicant and his dependents over the age of 14 must show a clean background check.
- The main applicant and, or any of his dependents, is not a person listed with the International Criminal Police Organization.
- The main applicant and, or any of his dependents may not be a potential threat to national security, public policy or public health.
- The main applicant and, or any of his dependents, shall not be an individual who, at any time, had pending charges or who has been found guilty of any crimes related to crimes of terrorism, money laundering and crimes against humanity.
Have you heard about the benefits of obtaining a European residency?
The benefits of the Malta Residence Program are appealing to many investors: The Permanent residency will be processed in 4 months, the investment is required just for the first five years, there is no compulsory minimum physical presence during the process or after receiving a residence permit in Malta, and the visa free travel to Schengen states will be possible.
Malta, same as Cyprus, is offering two investment programs: Malta’s citizenship program through investment is one of the principal programs granting a European passport. But before making any decisions, please note that some countries enforce restrictions on the acceptance of applications from specific nationalities.
For more information on Malta’s residency, please contact one of our advisors in UAE, Denmark or Canada, and we will do our utmost to guide you through your second residency and investment process.
Do not hesitate to comment below, if you have any questions relating to investing in Malta.