The Malta Permanent Residence Programme is a residency-by-investment program which shall entitle a beneficiary to the right to settle, stay and reside in Malta permanently. It is by far one of the most attractive residence programmes available to individuals looking at obtaining permanent residence in an EU country that also forms part of the Schengen Zone.
Available exclusively to non-EU nationals, the Malta Permanent Residence Programme provides its holders with:
- The right to reside indefinitely in Malta
- Visa-free travel within Schengen Area
- Ability to work in Malta (subject to obtaining a work permit)
- No minimum physical presence required to maintain immigration status
- Eligibility for spouse, children, parents and grandparents.
- world-renowned healthcare and educational facilities open to all who reside in Malta.
In addition to the above, one also gets to enjoy:
- A warm Mediterranean climate and great weather all year round
- Daily flights to all major European, UK and North African airports
- No council taxes are charged in Malta
- Low cost of living and a wide variety of properties available in all price ranges
- Very stable property market offering steady capital growth
- Relatively crime free and very safe to live in
- Very easy integration within local communities
- English and Maltese are the official languages of the Islands. Other languages also commonly spoken.
- Abounding with over 7,000 years of history and cultural life.
- Excellent social life for all age groups.
- Surrounded by crystal clear seas and several sandy beaches.
The Malta Permanent Residence Programme carries no minimum stay requirements and no personal tax implications unless the applicant spends more than 183 days in Malta in which case the applicant will be considered as tax resident in Malta.
INVESTMENT REQUIREMENTS UNDER THE MALTA PERMANENT RESIDENCE PROGRAMME
Applicants under the Malta Permanent Residence Programme must fulfil all of the following three requirements:
- PROPERTY INVESTMENT: Applicants must either purchase or rent a property in Malta. If opting to buy a property, the minimum value if of €350,000 if situated in the North of Malta, or €300,000 if in South of Malta or Gozo ; If opting to rent, the property leased out needs to be at least €12,000 yearly, or €10,000 yearly if in the South of Malta or Gozo. In the case of a property purchase, this has to be retained for at least 5 years.
- GOVERNMENT CONTRIBUTION: A contribution of €68,000 is payable for investors who buy a qualifying property; or of €98,000 if the investor leases a property rather than buying a property. Such contribution is paid directly to the Maltese government.
- NGO CONTRIBUTION: Applicants must also pay a €2,000 contribution to a Malta registered philanthropic, cultural, sport, scientific, animal welfare or artistic NGO
CAPITAL REQUIREMENTS UNDER THE MALTA PERMANENT RESIDENCE PROGRAMME
Applicant must be in possession of at least €500,000 worth of capital, of which €150,000 are to be financial assets.
FAMILY ELIGIBILITY CRITERIA
Applications under the Malta Permanent Residence Programme are open to non-EU, non-EEA and non-Swiss nationals. An application can include the main applicant, the spouse, financially dependent parents, and grandparents as well as children of the main applicant and the spouse. In order for children to be included in the same application, they must be un-married and economically dependent on the main applicant.
An additional fee of €7,500 applies for each additional applicant in case of parents, grandparents or spouses, whilst the fee for each child over 18 years of age is of €5,000
The main applicant must also:
- Be at least 18 years of age;
- Be a non-EU/EEA/SWISS national
- Be in possession of valid travel documents, for both himself and his dependents;
- Be in possession of adequate health insurance covering the EU territory;
- Be deemed a fit and proper person
The Malta Permanent Residence Programme was announced in replacement of the Malta Residence and Visa Programme (MRVP).