The Malta Permanent Residence Programme: A Prime Choice for Second Residency
With changes to several other European golden visas either currently happening or imminent, the Malta Permanent Residence Programme has become very popular for those seeking a second residency.
Strategically located in the heart of the Mediterranean, Malta has a dynamic economy, a high standard of living, a very advantageous tax system, and excellent healthcare and education systems.
The Malta residency by investment program also provides investors and their families with a range of benefits, including the opportunity to reside indefinitely in a safe and attractive European destination, access to a thriving economy, and the possibility of acquiring a citizenship.
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Here is an outline of the Malta’s Permanent Residence Programme:
MPRP 5 year programme – Malta’s residency by investment that can lead to citizenship
Purchase property valued at a minimum of EUR 300,000 in the South of Malta or Gozo; or EUR 350,000 if elsewhere in Malta.
OR
Rent a property with a minimum annual rental of at least EUR 10,000 per year in the south of Malta or Gozo; or EUR 12,000 if elsewhere in Malta
- Pay a government contribution of EUR 28,000 if purchasing a property, or EUR 58,000 if renting.
- Pay a mandatory administration fee of EUR 40,000.
- Make a charitable donation of at least EUR 2,000 to a Malta Non-Government organization
- Pay an additional EUR 7,500 for each parent or grandparent included in the application.
- Path to citizenship subject to conditions: Applicant must reside in Malta continuously for the first 12 months prior to the application, and during the period of 6 years immediately preceding those 12 months he/she must have resided in Malta for periods in aggregate for not less than 4 years (or 48 months).
- It is important to note that the Malta Permanent Residence Programme does not offer a direct pathway to citizenship. There is a potential path to citizenship under the Maltese Citizenship Act Chapter 188, subject to conditions, and citizenship is not guaranteed.
The Key Advantages of Residency and Citizenship in Malta
After fulfilling the requirements, applicants are then eligible for citizenship after the five years. One of the key advantages of residency in Malta is the opportunity for visa-free travel within the Schengen Area, granting residents access to 26 European countries. Further, if you receive citizenship, your new passport is one of the world’s most accepted, with visa-free or visa-on-arrival access to around 180 countries.
With its favorable tax regime, excellent healthcare and education systems, and visa-free travel opportunities, Malta offers highly desirable residency and citizenship options for individuals seeking an attractive environment to establish their home and pursue their aspirations.
Processing time (6 to 8 months)
We prepare and arrange the submission of application documents with AKM Licensed Agent Number AKM-DISC.
The processing time for the Malta residency by investment program is typically 6 to 8 months. The government conducts due diligence checks at that time to ensure the integrity of the program. Once approved, they then grant applicants residency in Malta, allowing them to live, work, and settle in the country.
Malta Permanent Residence Programme requirement checklist
- Be over 18 years of age and a non-EU citizen.
- Meet the qualifying investment requirements.
- Hold the property investment for a minimum of 5 years.
- Have a clean criminal record.
- Acquire health insurance coverage in Malta.
- Be in good health and of good reputation.
- Provide evidence of the source of funds used for the application.
- Have sufficient financial resources to support themselves.
- Provide proof of assets of at least EUR 500,000, with at least EUR 150,000 in financial assets (to maintain throughout the first 5 years).
Applicants must also show that their funds were obtained lawfully and provide proof of assets for at least EUR 500,000, with minimally EUR 150,000 in financial assets.
It is important to consult with professionals experienced in advising on the Malta Permanent Residence Programme to understand the process and eligibility requirements.
Request more information about Malta residency program
Please visit: https://harveylawcorporation.com/citizenship-and-residency-programmes/.
If you have questions or would like a consultation,
please contact HLG Miami office at [email protected]
or call +1 352-331-7554.
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