Malta has been experiencing unprecedented success within various industries as a result of the pro-business attitude it has adopted, which has in fact resulted in Malta experiencing an all-time high in foreign direct investment. Even though it is one of the latest European programmes to be launched, the Malta Residence and Visa Programme has received more than 1,000 applications from individuals of high quality, giving them the opportunity to reside in Malta.
Mr Roderick Cutajar, head of the Malta Residency Visa Agency highlighted the growing popularity this programme has experienced since its inception, where various individuals are realising Malta's potential, "To date, we've received exactly 1,017 applications, and they're now coming in at a rate of 50-60 a month".
EU countries offering residence by investment programmes must ensure a high level of due diligence. In this regard, Malta has implemented various measures, ensuring Malta's reputability and integrity will always be prioritised. Statistics have shown that, as a result of the importance of upholding such standards, this golden visa programme has become the 7th most popular in the world. Various Maltese authorities have, therefore, been tasked with the responsibility of verifying all the information provided for by the applicant, ensuring that all applicants are of high standing.
Once it has been proven that the applicant has satisfied the financial requirements, has a clean bill of health, and has passed all due diligence and fitness and properness tests, the Malta Residency Visa Agency grants the applicant permanent residency in Malta. Therefore, the applicant benefits from Malta's political and economic stability, as well as the numerous incentives in place. As a signatory to the Schengen agreement and a Member State within the EU, residents in Malta will also benefit from visa-free travel within the Schengen Area.
Mr Kenneth Camilleri, Senior Partner at Chetcuti Cauchi Advocates, has also noted the opportunities which this programme has brought about, "the programme's income and wealth requirements ensure the quality of families qualifying under the Residency Programme. As a result, investors also tend to take on investment and business opportunities presented by Malta's diversified economy".
As one of the leading economies in Europe, Malta is currently experiencing the success of the pro-business attitude it has developed within various industries. Through the incentives and efforts which have been made over the past couple of years, Malta does not solely depend on the income it acquires from its Residency and Citizenship programmes, but, rather, its economy is flourishing as a result of the progress it has made within various industries.
Founder of Chetcuti Cauchi Advocates, Dr Jean-Philippe Chetcuti, has in fact upheld that "Feedback from investors we have represented over the last 15 years tells us that Malta isn't only attractive on account of its Residency Programmes, Malta's investment in long-term economic fundamentals in key niche sectors is now yielding exceptional results in the Maritime and Aviation sector, the Online Gaming sector, the Financial Services and Fintech sectors as well as the Real Estate market".
About Chetcuti Cauchi Advocates
Chetcuti Cauchi Advocates serves successful entrepreneurs, business families and institutions using the financial centres of Malta and Cyprus, and their advisors around the globe. With offices in Malta, Cyprus, London, Zurich and Hong Kong, and with a unique setup of lawyers, tax advisors, accountants, company administrators and relocation advisors, we provide all legal, immigration, tax and company formation services under one roof.
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