The Malta Residence and Visa Programme does not restrict applicants to stay in Malta for a minimum amount of days or pay any annual tax.However, if an applicant spends more than 183 days in Malta, they are required to be registered for tax purposes.
The main applicant is required to satisfy a ‘fit and proper test’to be granted a permit under this programme. Background checks will also be carried out with respect to the main applicant and his/her dependents who are over 12 years of age. The residence permit granted will be valid for 5 years and can be renewed provided all conditions are met.
Costs involved under the Malta Residence and Visa Programme:
Contribution fee
€30,000
The above-mentioned fee would cover the main applicant and his dependant spouse and children. Applicants will be requested to remit the initial payment of €5,500 upon submission of the application which will be deducted from the total contribution fee. While the remaining balance would need to be paid out upon receipt of the approval letter from the authorities. Should parents or grandparents of the main applicant or spouse wish to apply, an additional €5,000 contribution per parent or grandparent will apply.
Property
Purchased: €270,000 – €320,000 OR
Leased: €10,000 – €12,000
Applicants are required to either purchase or lease property following the above thresholds. If the property is being rented or purchased in the South of Malta or Gozo, then the lowest thresholds apply. This property is to be kept as the applicant’s prime residence for the first 5 years and thereon after can be changed disregarding the thresholds quoted above.
Investment
€250,000
The investment must have an initial value of €250,000 and can take various forms as permitted by the Malta government. Once the mentioned period is over, the applicant may decide to dispose of the investment and still be entitled to apply for the renewal of their residence permit under this programme. The investment is also to be kept for the initial 5 years and may be disposed of after the mentioned period.
Income or Capital
Income: €100,000OR
Capital: €500,000
Main applicants are required to either be in receipt of a minimum of €100,000 as annual income generated outside of Malta or be in possession of €500,000 in capital.
An additional residence card processing fee will apply of €137.50 per person for the initial 5 years.
For any further details and for our professional fees you may contact us on info@emd.com.mt.
