Malta is one of the favorite destinations for many people including investors. Its geography, political climate, and economy are the main factors that make Malta attractive to many. All these factors make Malta Golden Visa a viable investment method.
The program offers investors the opportunity to become residents in Malta after they make an investment. Also, it's a fast-track program, which enables you residency in Malta in 4-6 months.
In this article, you'll find more about the following points:
- How to become eligible for Malta Permanent Residency Program,
- Investments options provided by the program, and
- Benefits of getting Malta residency.
About Malta Permanent Residency Program
The Malta Permanent Residence Program (MPRP) enables people to get permanent residency in Malta. It offers different investment methods including property lease or property acquisition, donation, and contribution.
It's possible to add your dependent family to the residency program. So, both you and your family members become EU residents.
Now let's look at the benefits of Golden Visa Malta.
Benefits of Golden Visa Malta
Being a resident of Malta means living in a safe country that offers a quality life and quality education. Also, it makes you an EU resident, enabling you to visit Schengen countries visa-free.
Another benefit of the Malta Golden Visa is that you don't have to settle in Malta only because you're a resident. However, you can, and furthermore, you can study and work here as well.
The program has a relatively extended inclusion of family members. So, your spouse, children, parents, and grandparents can apply with you.
How To Become Eligible For Malta Permanent Residency Program
The following points are required for eligibility to apply for residency in Malta:
- Being a minimum of 18 years old
- Having a clean criminal record
- Being a third-country national: In addition, you must not be from an EU or EEA country
- Holding a minimum of €500,000 as capital assets, and
- Maintaining funds that are sufficient for yourself and your dependents.
Other Requirements To Get Malta Investment Visa
There are some requirements to fulfill while applying for Malta Permanent Residency Program. One of these requirements is that you need to get a health insurance policy. This needs to cover the health risks during your stay in Malta.
Travel insurance is also necessary for covering your Schengen travel. Also, you need to provide a valid travel document.
Besides these, you need to follow qualifying investment routes. Let's now check the below.
Investment Options
There are two routes to follow regarding investment options for Malta residency. One of them is a purchase of property, and the other is the rental of property. Note that you're free to complete your investment after you receive pre-approval.
Rental of Property
The property lease option entails:
- Five years of the lease agreement for a residential property in Malta. The value is €12,000 per annum. Or,
- If it's in the South of Malta or Gozo, the amount is €10,000.
In addition to these, there's a one-time application fee that is €98,000. Plus, you'll donate €2,000 to a philanthropic organization in Malta.
Acquisition of Property
Malta Permanent Residency Program offers you the option to buy a residential property in Malta. The minimum value of the property must be €350,000. If the property is in the South of Malta or Gozo, it can drop to €300,000.
In addition to these amounts above, you'll pay an administrative fee of €68,000 to the government. Again, you'll donate €2,000 to an NGO in Malta.
Application Process For Malta Golden Visa
The first thing to note is that Malta Golden Visa entails high due diligence. Also, the application process takes between four to six months. Find the steps below:
- Preparing your documents is the first step. While applying, you'll pay €10,000 of government fees.
- Then, the due diligence process will be finalized, and you'll get a Letter of Approval in Principle.
- Now, you'll visit Malta for biometrics.
- At this step, you'll complete your investment, donations, and administrative fee.
- Finally, get your Malta residence permit.
Note that this process doesn't lead you to get a Malta passport. For this, you need to get citizenship in Malta.
In short, the Malta investment visa can be a great opportunity for you and your family. If you want to get EU residency, apply for the program today!
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