Malta Investment Immigration
Investment immigration is where an individual invests a specified amount of capital into a country for the purpose of obtaining a residency permit. Typically, the investment is in monetary format and must be deposited into a pre-approved project of the country the applicant seeks residency in. The impetus behind the investment is to make a positive impact on the economy’s development; however, each jurisdiction establishes different requirements to satisfy in order to qualify for residency.
Why Immigrate to Malta
Malta is a favorable location for foreign investors seeking permanent residency through investment immigration for a number of reasons. Malta has a strong and stable economic infrastructure and an accepted political and legal framework which regulates the country beneficially. Malta is regarded as a friendly country welcoming outside investors and foreign business start-ups.
Living costs in Malta are very low and the crime rate is reported as one of the lowest in the world. Not only is there an exemption of council tax for Malta residents, but the country has a highly bespoke taxation system beneficial to individuals and businesses alike. Malta boasts excellent health care and education standards. Due to its EU membership status, foreign nationals seeking to gain permanent residency status in Malta are able to enjoy full EU benefits. Malta is also strategically situated to enable strong European and international business relations.
Malta Residency Visa
A residency permit is required where the individual is a non-EU national and where the person intends to stay in Malta for a period of longer than 3 consecutive months. This type of necessary visa is called a “fixed-term” residency visa.
There are certain conditions which must be met in order to obtain a Malta Permanent Residency permit. These conditions are stipulated under the Residents Scheme Regulations 2004.
– The applicant is required to demonstrate proof of income, of which the minimum yearly income amount must be 25,000 EUR
– The Capital of 25,000 EUR can be in the form of any assets anywhere in the world
– The applicant is required to submit ‘annual remittances’ to Malta. The sum of money is dependent on the number of people included in the applicant’s residency permit. 13,950 EUR per annum is required where the applicant lives alone, and an additional 2,300 EUR for each dependant thereafter.
– The applicant is required to purchase or rent a property. Where the applicant purchases a house or apartment, it must have a minimum value of 116,000 EUR and 69,000 EUR respectively. Where the applicant opts to lease a property, the amount of rent must be at least 4,230 EUR per year.
– On approval of the residency permit, the applicant is required to take up residency within 12 months of the visa being issued.
– Unlike many other jurisdictions, the applicant is not required to spend a minimum amount of time in Malta. You are only required to visit Malta once a year in order to keep your residence permit valid.
Relevant documents required for a Malta Residence Visa include:
– Submission of the relevant application form, completed and signed accordingly
– A valid passport
– 3 x passport photos (recent)
– A certificate of good conduct from the applicant’s country of domicile
– Legal document detailing you have no previous criminal convictions
– A certified bank statement from the applicant bank stating that the applicant has a minimum yearly income of 25,000 EUR
– Provide relevant birth and marriage certificates for the main applicant and spouse/dependants to be included in the application