Malta Residence PERMIT
With a Malta, Residence and Visa Program non-European Nations citizens (Malta Passport holder) can enjoy visa-free travel in the Schengen localities.
Malta is abounding in cultural links and historical wealth with a strong geographical location, European identity and time zone plus a great Mediterranean climate. If these should not be enough reason to obtain a Maltese residency many investors look at Malta for associated tax advantages and enticing permanent residence schemes offered by Malta.
Successful residency applicants do not need to remain indefinite or stay for prolonged periods to retain their resident status. They can come and go as they please. In 2015 the Malta government issued an updated Residence and Visa program for non-EU citizens
The residency by investment program for Malta is for economically self-sufficient individuals and their dependent which include spouse. The temporary residence permit allows an applicant with dependents to reside between one and five years.
Taking part in the Global Residence Program is a sure way to get a quicker approval for residence with a minimum of 220, 000 euros real estate investment. After this period applicants qualify for permanent residence during which they are monitored annually for five years.
The requirements to obtain a Maltese Resident Visa after qualifying its terms to include:
- Paying a 5, 500-euro non-refundable administration fee
- After approval pay an additional 30, 000 euros
- Rent or own Malta property at the value of 320, 000 euros in Malta, or in the south of Malta own a property of 270, 000 euros.
- Property rental must be a minimum of 9, 600 per annum.
Potential applicants coming from non-Eu countries must live continuously for a five-year period inside of Malta before they can consider applying. During that period the applicant cannot be away from Malta for longer than a six-month period. Before permanent residency is granted non-Eu, citizens are granted a temporary residence after approval.
Permanent Residence in Malta Benefits
- Very low tax rates
- Exemption from VAT and Customs Duty
- Freedom of movement without visa
- Import cars
- Freedom to rent out properties in Malta
- Import of household possessions
- Double taxation relief
- No death or inheritance transfer tax
- Good education and healthcare