The Malta Residence and Visa Program
The Malta Residence and Visa Program has been established to appeal to reputable non-EU nationals and their dependents to settle and reside in Malta. By doing so they get the privilege of being able to travel inside the Schengen are without the need for a visa. Once the Authority has given its approval, a Certificate of Residence and a corresponding Maltese residence permit with a validity of 5 years is issued to the applicant. Inasmuch as the required obligations are continually met the permit will be indefinitely renewable.
Eligibility Criteria – The Main Applicant must:
- Be at least 18 years old.
- Be a Non-EU national.
- Provide a clean police conduct.
- Have an annual income of minimum €100,000, or possess capital of minimum €500,000.
- Satisfy all required diligence checks as a proper and fit individual.
- Children not over the age of 26 – (unmarried and economically dependent).
- Parents/grandparents – (economically dependent).
- Spouse – (monogamous relationship).
Contribution: €30,000 paid to Identity Malta, €5,500, amount payable upon application.
Qualifying Investment: €250,000 investment in a form to be determined by Identity Malta and which has to be held personally for 5 years.
Qualifying Property: purchase/be an owner of property (in Malta) whose worth should not be less than €320,000 or lease for minimum €12,000 per year or €270,000 and €10,000 respectively for property in Gozo or in the South of Malta, which has to be held personally for 5 years.
Due Diligence and the Certificate of Residence
A series of due diligence tests are carried out by Identity Malta the governing Authority and also by the Approved Agent. Once the eligibility of the applicant is confirmed, a Certificate of Residence will be issued.
The Agent has to carry out an Audit on an annual basis, confirming the beneficiary’s satisfaction of his/ her on-going obligations. This has in turn to be submitted to Identity Malta annually for the first five (5) years and subsequently every five (5) years.
Applicants are required to submit their application through an ‘Approved Agent’ (authorized by Identity Malta). The agent will hold the responsibility for the initial preparation and processing of the application, and the progressive assessment of the client’s status throughout his/her enjoyment of the program.