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Residency in Malta

Residency in Malta

Updated on Tuesday 19th April 2016

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Residency-in-MaltaObtaining residency in Malta is regulated by the Immigration Act or Chapter 217 in the Civil Code. Foreign citizens wanting to obtain Maltese residency have several options when moving into the country. Aside from the regular employment permit, that allows them to live and work in Malta, there also a few programs they can enroll into:

  • - the Malta Global Residence Program,
  • - the Malta Individual Investor Program,
  • - the Malta Retirement Program,
  • - the Permanent Residence Scheme.

For details about the requirements for the residence programs, you can ask our lawyers in Malta.

The Maltese Global Residence Program

The Malta Global Residence Program was launched in 2013 and it addresses to non-EU, non-EFTA (European Free Trade Association) and non-Swiss residents. In order to apply for the Global Residence Program, foreign citizens must buy a property in Malta or in Gozo. The price of the purchased property may not be below 275,000 euros or 220,000 euros for properties in Southern Malta or Gozo. The application for the Global Residence Program may only be submitted by authorized registered mandatories in Malta on behalf of the applicant.

The Individual Investor Program in Malta

The Citizenship Scheme was introduced at the end of 2013 and it addresses foreign citizens wanting to obtain Maltese residency based on important financial contribution or investment made in the country. At the beginning of 2014, the Citizenship Scheme became the Individual Investor Program.

Maltese residency will be granted to adult foreign individuals and their dependents based on the contribution investments amounting to 150,000 euros they must make in the country. These investments may take the form of hedge funds, stock, bonds or debentures and must be maintained for a minimum period of five years.

Applicants to the Individual Investor Program must appeal to the services of authorized agents or a law firm in Malta that will submit all necessary documents on behalf of the clients.

The Permanent Residence Scheme in Malta

The Permanent Residence Scheme is the oldest legislation based on which foreign citizens may immigrate in Malta. However, there are few requirements for those applying for residency based on the Permanents Residence Scheme of 1988:

  • - the annual income of the foreign citizens applying for residency must exceed 24,000 euros,
  • - applicants must also rent or buy a property in Malta within a year from receiving the residence permit;
  • - the applicant must remit to Malta an annual sum of 14,000 euros for him or herself and 2,400 euros for each dependent.

Permanent resident holders are not allowed to take up employment or start a business in Malta.

You can contact our attorneys in Malta for details about the required documents when applying for residency.

 

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