Malta Residence and Visa Programme
On the 28th of August 2015 the Government of Malta launched the Malta Residence and Visa Programme Regulations, 2015. Primarily, these new Regulations were brought into force through a Legal Notice in order to encourage third-country nationals to bring investment to the island.
The Agency responsible for the Programme, Identity Malta, will be responsible for the issuance of a Certificate, deemed to be a residence permit to individual who satisfy the conditions established under the Regulations. The Certificate will enable the beneficiary and his registered dependents to settle, reside and stay indefinitely in Malta.
Furthermore, since Malta is part of the Schengen Area Agreement, such individuals would be able to travel freely within the Schengen area, without the need of applying for a visa.
Qualifications and General Requirements
The certificate may be issued to an individual who is 18 years of age and who meets the application requirements.
The applicant, who must be a third-country national, must also be in possession of a health insurance policy and must provide an affidavit declaring that from the date of the application he/she has either an annual income of €100,000 arising outside of Malta or has in his/her possession a capital of not less than €500,000.
The applicant must also fulfil the following three-tier structure:
|Contribution||Qualifying Investment||Qualifying Property|
|Pay a full contribution of €30,000||Invest an initial value of €250,000 in a form as determined by Identity Malta from time to time.*||1. Purchased at a consideration of not less than €320,000 for a property situated in the North of Malta, or €270,000 for a property situated in Gozo or the South of Malta;
2. A property taken on lease for rent of not less than €12,000 per annum for a property situated in the North of Malta, or €10,000 for a property situated in Gozo or in the South of Malta.*
* The qualifying investment and the qualifying property are to be held for a minimum period of 5 years from the date of the issuance of the Certificate.
Submission of Application
Any individual wishing to apply and benefit from this programme is obliged to do so through a registered approved agent and/or a registered accredited person. GVZH Advocates is accredited with Identity Malta and may thus assist, handle and submit Programme applications.
The application is to be submitted to Identity Malta subject to their requirements, together with a non-refundable fee of €5,500.
Once submitted, if the application qualifies to be issued with the Certificate, Identity Malta shall determine this in writing and the applicant must then proceed to pay a contribution of €30,000 less the €5,500 administrative fee initially paid. In addition to this, the necessary supporting documentation in relation to the investment and property are to be submitted to Identity Malta at this stage.
It is vital to note that Identity Malta is continuously emphasising the importance of due diligence procedures in order to maintain Malta’s national standards. Therefore, an applicant would be admitted as a beneficiary under this Programme after due diligence processes would have been executed in accordance to the qualifications, general requirements and the eligibility criteria provided for by the Regulations.
The Certificates issued by Identity Malta shall be subject to annual monitoring for the first five years from its issue, and every five years thereafter.