As of the 23rd May 2016, applications for the Malta Visa and Residence Programme, first announced in 2015, have started being accepted. The programme is legally based on the Maltese Immigration Act and provides non-EU/EAA/Swiss National investors with indefinite residence rights provided that they manage to meet the qualifying criteria and to effect the prescribed contributions.
The issuing of a certificate grants the holder and their dependents the right to reside in Malta indefinitely as well as the ability to travel visa-free throughout the Schengen Area. The idea behind the project is to encourage investment and new business ventures from non-EU / EAA / Swiss National sources.
Identity Malta is the Government Agency which has been entrusted with the running of the administration of the Malta Visa and Residence Programme and all applications falling under it have been entrusted to Identity Malta and may be facilitated by registered accredited agents. The Group of companies of which we form part is registered with and authorised by Identity Malta to facilitate the Malta Visa and Residence Programme applications as well as the Malta Individual Investors Programme.
The general requirements for the issuing of a certificate include:
- Being at least 18 years of age;
- Having a clean criminal record (this applies for any dependents to be covered by the certificate as well) and passing the due diligence test;
- Owning a property (with a minimum starting value of €270,000-€320,000 depending on location) or renting a property (at a minimum of €10,000-€12,000 per year depending on location) for a period for no less than five (5) years;
- Committing to pay a contribution of €30,000 in accordance with the regulations, as well as the administration fees applicable at the time;
- Having an annual income of at least €100,000 arising outside of Malta, or at least €500,000 in capital;
- Full and comprehensive health insurance for Malta and the whole of Europe.
For assistance with the Malta Visa and Residence Programme, please contact us here.