Malta Investment Programs: Residence Permit or Citizenship?
In May 2016, a new state immigration program, the Malta Residence and Visa Program (MRVP), appeared in Malta. It gives foreign investors and their families the right to obtain a residence permit in exchange for investments in the country’s economy. Moreover, it is an investment, not a donation. During the first months of the program, it became obvious: it will be in demand, and especially from investors from Russia and China.
Who can get a residence permit through investments?
Citizens of any country with the exception of the European Union states, the European Economic Community and Switzerland can apply.
The main applicant must be over 18 years old. In the application, you can enter family members – the spouse (s) and minor children. For many, it is important that a residence permit can also be issued to adult children under the age of 26, as well as parents and grandparents on both sides. But only if they do not conduct independent economic activity, that is, they are dependent on the main applicant. In this case, the investor will have to sign a statement of material support for all dependent persons over 18 years of age, who submit documents with him.
There are some more requirements for a foreigner. He must be wealthy, with an annual income of € 100,000 outside Malta or a personal capital of € 500,000. Before submitting the documents, the applicant will be asked to sign a statement about the availability of these funds. In addition, the investor and family members should not have outstanding criminal record or serious infectious diseases. A foreigner must be tested for reliability and take out medical insurance in Malta.
What conditions must be met?
Invest in government bonds in Malta € 250 000. The circulation period of the securities must be at least five years.
Buy or rent a property
– With the purchase (without the right to sell and rent for five years) the price of the object – from € 320,000 (€ 270,000 – in the southern part of Malta or on the island of Gozo)
– When renting (at least for five years without a sublease) the annual fee – from € 12,000 (€ 10,000 – in the southern part of Malta or on the island of Gozo)
Pay a non-refundable government fee of € 30,000.
Please note: to obtain a residence permit, you must fulfill all the conditions, and not some one to choose from.
What rights does a residence permit give?
Holders of residence permits receive the right to live and work in Malta. This program compares favorably with others in that it does not impose requirements on the minimum period of residence in the country. Having a local residence permit, you can not come to Malta, but use the visa-free regime with all other Schengen countries.
Getting a residence permit in Malta, you do not automatically become its tax resident. But if you want, you can go to the local tax system, which is considered one of the most profitable in the world.
What are the responsibilities of holders of a residence permit?
Purchased bonds can not be sold for five years. Real estate should also be owned or leased. Each year, residence permit holders must undergo compliance checks.
In five years, the funds invested in securities can be returned without losing status. However, to extend the residence you will need the address of residence on the island. And for this you can rent a property for another five years.
Please note: participants in the MRVP program will not have the right to submit a petition to become a citizen of Malta in the future. But you can extend your residence permit an unlimited number of times.
It is necessary to remember
Residence permit for the whole family, including adult children and parents
Duration of registration of residence permit
– up to 4 months
The right to live in a stable prosperous country of the European Union
No minimum stay in Malta
Visa-free access to Schengen countries
The ability to optimize taxation
There will be no right to apply for citizenship of Malta
partner Henley & Partners
There is great interest in MRVP from investors from China and Russia. Chinese citizens are interested in resident programs in particular, since the presence of a second citizenship is prohibited in the country. Russian investors like this program for several key reasons. Firstly, there are no requirements for living in the country. Secondly, applications are considered quickly – 3-4 months. And thirdly, returnable investments – in five years it is possible to return the invested money without losing the status of a resident.
The MRVP program helps in 3-4 months to get a residence permit for the whole family
Any questions? Contact us
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