office(at)lawyersmalta.eu

  • [En]
  • [Fr]
  • [Es]
  • [De]
  • [It]

Gaining Residence in Malta by Purchasing a Property

Gaining Residence in Malta by Purchasing a Property

Updated on Tuesday 19th April 2016

Rate this article

based on 1 reviews


Gaining-Residence-in-Malta-by-Purchasing-a-PropertyIn order to obtain Maltese residency, foreign individuals must live in the country for at least six months. There are no requirements for foreign citizens purchasing properties in Malta in order to gain residence, except if applying for an acquisition of immovable property permit (AIP). Malta has different programs allowing EU/EEA (European Economic Area), non-EU/EEA and Swiss nationals to obtain residency in the country.

The Maltese Residence Program

The Malta Residence Program was launched in 2014 for EU citizens who want to take up residence in the country. EU citizens will mainly benefit from a flat tax rate of 15% on foreign incomes remitted to Malta, but other tax benefits are also available. The Residence Program regulations stipulate that EU/EEA and Swiss citizens must rent or purchase a Maltese property in order to gain residency. The conditions for buying a property under the Residence Program are:

  • - the property’s value must be at least 275,000 euros, if purchased, or at least 9,600 euros per year if rented,
  • - properties in the Southern part of the country or in Gozo must be valuated at minimum 220,000 euros, if bought, or at least 8,750 euros per year in case of rentals.

Applicants must also have health insurance and regular incomes when applying for the Malta Residence Program. The application must be submitted through an Authorized Registered Mandatory.

Our lawyers in Malta can assist you with all relevant immigration documents.

The Global Residence Program in Malta

The Global Residence Program was launched in 2013 and is addressed to non-EU citizens. Non-EU foreigners are allowed to obtain Maltese residency by purchasing a property on the island. The requirements for the Global Residence Program are:

  • - the purchase value of the Maltese property must be at least 220,000 euros, if the property is located in Southern Malta or in Gozo, and at least 275,000 euros for properties in Central and Northern Malta,
  • - the rental value of a property must be at least 9,600 euros per year or 800 euros per month in Central and Northern Malta, and 8,750 euros per year or 730 euros per month in Southern Malta or in Gozo.

Applicants of the Global Residence Program also have the right to work or open a company in Malta.

For complete details about the requirements of residence programs and for real estate due diligence procedures, you can contact our law firm in Malta.

 

 

Comments

There are no comments

Comments & Requests


Please note that client queries should NOT be posted here but sent through our Contact page.