The Malta Residence and Visa Programme Regulations 2015, has been launched by the Government of Malta through a legal notice. The scope of this new set of regulations is to attract more quality investors who wish to acquire residence in Malta. The regulations are predicted to enhance commercial activities, businesses and wealth.
This process shall provide beneficiaries and their dependents to reside in Malta and travel within the Schengen area without the need of a Visa. The dependents of the beneficiary include spouses, children under the age of eighteen, unmarried children between 18 and 26 years of age who are economically dependent on the beneficiary, children with disability who are fully supported by the applicant, and parents or grand-parents. These regulations target third country nationals, meaning that applicants should be citizens of a country not within the European Union, EEA or Switzerland.
Applicants are to have a reasonable plan of investment which includes plans of their contribution, qualifying property and qualifying investment. The first step is a contribution of €30,000 with a non-refundable deposit of €5,500 to be paid as part of the application provision.
An applicant must also invest in property within Malta to successfully complete the process. Property to be purchased should not be less than a value of €320,000, unless it is a property purchased in Gozo or in the south of Malta, in which case a minimum amount of €270,000 is required. Should the applicant opt to rent property rather than buying, a minimum amount of €12,000 must be contributed. This excludes areas within the South and Gozo in which a minimum amount of €10,000 applies.
Being an initiative aimed for those who wish to pursue successful Business Development operations in Malta, an initial amount of €250,000 shall be utilised as a qualifying investment. Applicants have to confirm that they have an annual income of not less than €100,000 or that they have a capital amount of not less than €500,000. The regulation aims to attract worthy investors, which is why applicants must be of a clean police conduct. Applicants also have to be over the age of eighteen.
The Certificate is then provided after these procedures and the necessary due diligence is conducted. The Certificate is then monitored yearly for the first five years, and then is monitored every five years after this period.
This process is to be supervised by an approved agent. Further information may be acquired by accessing the following link:
As published by ARQ
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