New regulations have been introduced aimed at attracting third-country national investors to Malta by issuing a residency certificate entitling the investors to settle or stay indefinitely in Malta.
The Malta Residence and Visa Programme was launched on 28 of August 2015, . These regulations seek to attract foreign, third national investors to Malta by providing for the issue of a residency certificate upon satisfaction of a number of conditions.
There are 3 conditions that must be met:
Firstly, a ‘qualifying investment’ must be made; i.e. an investment in the form determined by Identity Malta with an initial value of €250,000.
Secondly, the applicant must make a contribution of €30,000, €5,500 of which shall go towards a non-refundable application fee.
Thirdly, the third country national must acquire a ‘qualifying property’ in Malta or Gozo. The value of the property differs depending on the area in which the property is situated however this ranges between €270,000-€320,000. There is also the option to lease out rather than acquire property, the values of this range between €10,000-€12,000 in minimum yearly rent.
Both the ‘qualifying property’ and the ‘qualifying investment’ must be held for a minimum of 5 years. The applicant must also submit proof of stable and regular resources sufficient to maintain himself/herself and his/her dependents, valid travel documents, sickness insurance and an annual income of not less than €100,000 (following submission of the application) or a capital of not less than €500,000.
Once these conditions are met and approval has been given by Identity Malta, a certificate will be issued which will entitle the third country national together with any registered dependents to settle or stay in Malta indefinitely.
Applicants must be represented by a registered approved agent. We are duly authorised to represent any applicants in this regard.
For further information please contact David Zahra.
