Preparing a reserve “airfield” in a developed country with a favorable climate is the dream of many wealthy people. Moreover, many are seriously considering a tiny island in the Mediterranean Sea called Malta in this respect.

Most people are looking for this territory due to the excellent nature and weather conditions and because Economic development allows for several benefits for a comfortable life.

Zlata Erlach from the Immigrant Invest agency revealed the features of the Maltese Permanent Residence programme in her article.

Read the article to get the necessary information.

Detailed Description Of Malta Permanent Residence Program: Features Overview

Several schemes are available to get the opportunity to stay on the territory of the island. The country offers several ways to PR for foreigners.

It is necessary to distinguish the following among them: 

  1. Ordinary residence in the territory of the island. It is necessary to stay in the country for 6 months a year. Permission documents are issued to applicants from the EU.
  2. Global program Malta PR. Thanks to it, citizens of non-EU countries can count on tax benefits and a residence permit.
  3. Single permit. This document allows third-world persons to get a job on the tiny island. This pass is issued for a strictly defined time.
  4. Nomad’s residence permit. Such a government project has been working since 2021. This option is suitable for freelancers. The documents ensure the person’s stay for up to 1 year and provide them with certain benefits. 
  5. Permanent residence. This option provides for permanent immigration by financing specific projects prescribed by law. The primary profit is a visa-free regime to the Schengen zone and a minimum stay in the country during processing.

Interestingly, the above methods also apply to all relatives of the applicant. It is only essential to include them in the list and be prepared for the expenses.

Direct Investments In Maltese Real Estate As The Main Option: What You Need To Do

The best option to gain a foothold on the Mediterranean island is the opportunity to sponsor specific projects for the island’s economic prosperity. Foreigners have two versions to invest in. Both offer identical benefits to immigrants. 

It is possible to obtain this status under the following conditions:

  • be 18 years of age;
  • not be an EU citizen;
  • have a sufficient amount of money for investment;
  • be able to hold the purchased or leased real estate;
  • have no criminal record;
  • be in good health;
  • have health insurance;
  • confirm the purity of the origin of finances.

Applicants for a residence permit must not threaten the country’s national security and have a regular and stable income.

Aerial shot of the ancient city valletta in malta

Analysis Of Available Real Estate Options For Investment

Several statutory requirements must be met to obtain residency status on the island.

These include:

  • contacting a licensed company to apply;
  • paying an administration fee of 40,000 euros;
  • renting a real estate property for the amount of 10,000-12,000 euros;
  • purchase of a residential or commercial space for 300,000-350,000 euros;
  • payment of state taxes of 28,000-58,000 euros;
  • paying 75,000 euros for each dependent;
  • a charitable donation of 2,000 euros to various non-governmental organizations.

Moreover, according to the conditions of the permanent residence in Malta by investment in real estate program, foreigners will have to own acquired apartments or business premises for 5 years. You can get this status within 4-6 months after submitting a correctly completed application, after which the island can become almost a second home. 

Benefits Of Maltese Permanent Residence

Immigrants who have become members of the scheme can enjoy certain privileges. This way, people who have obtained a Maltese residence permit have the opportunity to:

  • settle in, organize their being, and become an applicant for local citizenship;
  • move freely within the Schengen region for three months out of six months;
  • become a participant in any type of real estate market;
  • include heirs of up to four generations in the application.

Holders of Malta permanent residence through property investment can do business at reduced tax rates, which is already appreciated by many businessmen from post-Soviet countries. However, it is not the only thing this island is famous for. Those wishing to get RP in Malta will have the opportunity to enjoy picturesque landscapes and a favorable climate. 

Malta is renowned for its safety, good quality of health care, and high standard of living. You should seek professional advice from immigration specialists to apply for residency status. They will accompany your application and allow foreigners to speed up the process of obtaining a residence permit in a country with a good climate and a decent standard of living.

Independent registration of such status may lead to many mistakes and rejection. You will save a lot of money and time if you turn to specialists. Employees of a professional agency know all the subtleties and nuances in this matter.

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Soumava Goswami

A passionate writer and an avid reader, Soumava is academically inclined and loves writing on topics requiring deep research. Having 3+ years of experience, Soumava also loves writing blogs in other domains, including digital marketing, business, technology, travel, and sports.

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