The Main residence and Visa Programmes in Malta

In Malta the appeal of year-round sun and mild dry weather, political stability and a beneficial tax structure has never been stronger. In a world where modern pressures and stresses have reduced the quality of life, Malta remains a safe English-speaking EU island paradise at the heart of the Mediterranean. The currency of Malta is the Euro.

The Museum of Archaeology in Valletta, the island’s capital, in renowned for its rich collection of prehistoric artefacts, while the impressive Grand Master’s Palace and St. John’s Cathedral are considered to house some of the most valuable art in the region with St. John’s laying claim to the title of the world’s most beautiful inlaid  oor. Tucked behind this lively scene are quiet corners hiding more than 7,000 years of history, picturesque seascapes, snaking rubble walls that stretch across patchwork  elds, and meandering ancient streets in Mdina and Valletta. Malta the appeal of year-round sun and mild dry weather, political stability and a beneficial tax structure has never been stronger.

 

The Government of Malta over the past few years has formalised a number of attractive resdience, Visa and citizenship programmes for non-EU nationals. The interest in these Maltese programmes is overwhelming. Following  is a brief overview of the main three programmes, the information below is a summary of Government of Malta laws and official communications. Clients of Prism & Mosaic benefit from a free consultation & introduction session with a Maltese residence professional expert.

Malta Residency and Visa Programme

The Malta Residence and Visa Programme Regulations, 2015 was launched by the then Parliamentary Secretary for Competitiveness and Economic Growth Dr Jose’ Herrera in 2015. The Programme provides international investors with residency rights. These rights will apply only for non-EU / EEA / Swiss Nationals.

 

The programme falls under the Immigration Act and is available to both the applicant and also their dependants subject to the below qualifications.

 

The qualifications and general requirements for the issuing of a certificate under these regulations are that such person:

(a) is at least eighteen years of age;
(b) meets the application requirements;
(c) has a clean criminal record (as do his dependants), has passed the due diligence test and is a fit and proper person;
(d) commits himself to provide proof of title to a qualifying property which may be either of the following:
•A qualifying owned property purchased at a consideration of not less than two hundred and seventy thousand euro (€270,000) for a property situated in Gozo or in the south of Malta, or three hundred and twenty thousand euro (€320,000) for a property situated elsewhere in Malta
•A qualifying rented property, taken on lease for a rent of not less than ten thousand euro (€10,000) per annum for a property situated in Gozo or in the south of Malta, or not less than twelve thousand euro (€12,000) per annum for a property situated elsewhere in Malta.

(e) commits himself to a qualifying investment of an initial value of two hundred and fifty thousand euro (€250,000) which must be held for a minimum of period of 5 years from the date of certificate.
(f) commits himself to pay in full a contribution of thirty thousand euro (€30,000) in accordance with these regulations.
(g) has not had his application deemed to be against the public interest.

There will be a non-refundable administrative fee of five thousand five hundred euro (€5,500) on application, which will be deducted from the contribution. The applicant will need to provide an affidavit declaring that from the date of the application onwards he has either an annual income of not less than hundred thousand euro (€100,000) arising outside Malta or has capital of not less than five hundred thousand euro (€500,000).

The applicant has to be a third country national, not a Maltese, EEA or Swiss national.

The applicant must not be under the Residents Scheme Regulations, the High Net Worth Individuals – EU / EEA / Swiss Nationals Rules, the Malta Retirement Programme Rules, the Residence Programme Rules, the Qualifying Employment in Innovation and Creativity Rules or the Highly Qualified Persons Rules.

 

The beneficiary must hold both the qualifying property and the qualifying investment for a minimum five (5) year period following the appointed date.

The certificate will give the applicant and the registered dependants to reside, settle or stay indefinitely in Malta.

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Global Residence Programme

The Global Residence Programme was launched in June 2013 by Hon. Edward Zammit Lewis. The programme outlines the requirements needed for non-EU nationals to purchase property in Malta. No permits or lengthy redtape processes are required. Under the Global Residence Programme, the value of immovable property bought in Malta by foreigners has to be at least €275,000. However, when the property is in the south of Malta or in Gozo, the minimum value can be €220,000. Applicants are also eligible if they rent a property for €9,600 in Malta and €8,750 in Gozo or the South of
Malta.

 

	Global Residence  Programme
	Malta	Gozo        Malta (South)
	€	€
Immovable  Property Purchase	275,000	220,000
Rental	9,600	8,750
Bond	None	None
Minimum  Tax	15,000	15,000
Application Fee	6,000	5,500

 

Satisfying the requirements of the Global Residence Programme 

For one to apply for the Global Residence Programme, one should prove with satisfaction of the Commissioner that:

(a) he is a third country national and is not a Maltese, EEA or Swiss national; 

(b) he is not a person who benefits under the Residents Scheme Regula¬tions, the High Net Worth Individuals - EU / EEA / Swiss Nationals Rules, the High Net Worth Individuals - Non-EU / EEA / Swiss Nationals Rules, the Malta Retirement Programme Rules, the Qualifying Employment in Innovation and Creativity (Personal Tax) Rules or the Highly Qualified Persons Rules; 

(c) he holds a qualifying property holding; 

(d) he is in receipt of stable and regular resources which are sufficient to maintain himself and his dependants without recourse to the social assis¬tance system in Malta; 

(e) he is in possession of a valid travel document; 

(f) he is in possession of sickness insurance in respect of all risks across the whole of the European Union normally covered for Maltese nationals for himself and his dependents; 

(g) he is fluent in one of the official languages of Malta; 

(h) he is a fit and proper person.

 

INDIVIDUAL INVESTOR PROGRAMME (IIP)

The Individual Investor Programme of the Republic of Malta (IIP), by virtue of Legal Notice 47 of 2014, allows for the granting of citizenship by a certificate of naturalisation to individuals and their families who contribute to the economic and social development of Malta. Subject to a stringent vetting and diligence process, including thorough background checks, the applicants and their dependants are granted citizenship in exchange for such contribution.

 

WHO CAN APPLY

 

To qualify for citizenship, the main applicant must be at least 18 years of age, provide proof of having been a resident of Malta for a period of 12 months preceding the issuing of a certificate of naturalisation and meet the following investment requirements:
- *The acquisition of real estate with a minimum value of EUR 350,000 to be held for at
least 5 years; or
- *Lease a residential immovable property in Malta for a period of 5 years, at an annual rent of at least EUR 16,000; and
- Make a contribution to the National Development and Social Fund
- An investment in stocks, bonds or special purpose vehicles to be identified by Identity Malta, for a minimum value of EUR 150,000 to be held for a minimum period of 5 years.
*Immovable property cannot be let or sublet. Applicants must have a Global Health Insurance coverage for at least EUR 50,000 for the main applicant and each of the dependants and must give proof that they can maintain the same for an indefinite period.

Principal Applicants can include in their IIP application:

- Spouse – in a monogamous marriage or in another relationship having the same or similar status to marriage.
- Dependants of 18 years of age and under.
- Dependants between the age of 18 and 26 years of age, who are not married and who are wholly supported by the main applicant and form part of the household.
- Dependants over the age of 55 years (e.g. parents), who are wholly supported by and who form part of the household of the main applicant. By virtue of the Legal Notice 47 of 2014, the Government of Malta has established the legal framework for the IIP, The process of application for the IIP is carried out through a Concessionaire, Accredited Persons or Approved Agents.

 

The following contributions and fees shall be required as a minimum to qualify for citizenship under the IIP:

Contributions

 

- Principal applicant €650,000
- Spouse €25,000
- Each Dependant child aged 0-17 €25,000
- Each Dependant child aged 18-26 €50,000
- Each Dependant aged 55 or above €50,000

 

Due Diligence Fees
- Principal applicant €7,500
- Spouse €5,000
- Each Dependant child aged 13-17 €3,000
- Each Dependant child aged 18-26 €5,000
- Each Dependant aged 55 or above €5,000

 

Passport Fees
- per person €500
Bank Charges

- per application €200

 

 

 

Above audio-visual clips are accredited to Identity Malta Agency