Malta is a country with a favorable climate and a resilient economy. Despite its small territorial area, Malta is characterized by a high level of development of the tourism business, mechanical engineering, pharmaceuticals and other types of industry, which has a positive effect on the economic growth of the state.
Residence in Malta: Grounds to obtain
A residence permit in Malta gives a non-resident the right to stay in the country for 1 year. In this case, the status can be renewed annually. After three years, the foreign person can apply for permanent residence.
Residents of non- EU countries can obtain a residence permit in the following cases:
- Treatment in one of the Maltese medical institutions;
- Refugees from countries that pose a threat to the lives of their citizens;
- Education at the university;
- Matrimony with citizens of Malta;
- Financially wealthy pensioners;
- Foreigners who are ready to invest in the economy of the state.
To apply for a residence permit, it is necessary to prepare documents confirming the legality of intentions to obtain a status.
Relocation to Malta: residence permit by business
To obtain a residence permit for business, the applicant must prove his own payment capacity. This will require investing at least 100 thousand euros in the development of the company. To reduce the amount (up to 40 thousand euros), it is recommended to take a Maltese resident as a partner.
In addition, the foreign entrepreneur will be required to provide higher education documents and a business plan for the firm, which indicates that the company will be of benefit to Malta . Business requirements also imply a minimum life of the company – 3 years, as well as proof of success and good image.
The issuance of a residence permit to a foreigner for business takes place after the approval of the Maltese Committee on Entrepreneurship.
Residence permit in Malta for the purpose of employment
Unlike most countries that actively offer residence permits to non-residents for employment, in this country it is rather difficult to obtain this status. The management of a Maltese company, along with a job call for a foreigner, will have to provide supporting documents that all methods have been applied to find an employee among residents.
Immigration to Malta: residence permit for study
The status of a temporary residence permit for foreign students is issued only for the period of study. Residence permit for a student gives the right to move freely within the Schengen area.
Invest in Malta
To obtain a residence permit, there are the following conditions for investors:
- When applying for a residence permit, you will need to pay an administrative fee of 6,000 €.
- Income tax rate: 15% (or at least 15 thousand euros).
- The cost of maintaining the status: from 8750 € / year.
- The applicant is required to purchase Maltese real estate in the amount of 220,000 euros. In the absence of a transaction for the acquisition of real estate, the foreigner must provide receipts for the payment of the rental of real estate in the amount of: at least 8750 euros / year.
Permanent residence in Malta for investment
The process of considering an application for permanent residence by investment lasts up to 3 months. The procedure also includes:
- Administration fee: € 30,000.
- Purchase a property worth € 350,000 or be a tenant and pay at least € 10,000 per year.
- Invest in the purchase of bonds with a total value of € 250,000.
- Confirm revenues: 100,000 € / year, or to provide an extract from the bank on the availability of funds for the couple in the amount of 500,000 € .
Malta citizenship by investment
The most guaranteed and quickest way to get a Maltese passport is by investing.
The investor needs:
- Pay administrative costs of € 50,000. (+10000 € for a spouse, +5000 € for each child and / or parent).
- Pay for investment risk check: 7500 € (+5000 € for spouse, +3000 € for each child and / or parent).
- Purchase real estate worth € 350,000 or be a tenant with a minimum price of € 16,000 per year.
- Contribute € 650,000 to the Investment Fund (+ € 25,000 for a spouse and minor child, € 50,000 for each child aged 18-26 and / or a parent over 55).
Moving to Malta with any investment status has the same requirements for all applicants:
- Age – from 18 years old;
- No problems with the law;
- Having a permit to enter the EU;
- Availability of an insurance policy.
Advantages of Malta’s Passport
Citizenship in Malta has a number of advantages:
- Freedom of movement and residence in the Schengen countries for you and your family;
- The ability to continuously live and work directly on the territory of the country itself;
- No taxation on private profits earned outside the jurisdiction;
- Life in a state characterized by political and economic stability and extensive social guarantees.