A new Malta Residence and Visa Programme has been launched in virtue of Regulations made under the Immigration Act which is aimed at “third party nationals” – meaning any person who is not a citizen of the EU, the EEA and Switzerland
Pursuant to this Programme, a Beneficiary who is issued with a Certificate by Identity Malta in accordance with the Regulations, as well as his Dependants, will be given the right to reside, settle or stay indefinitely in Malta.
The key requirements are :
1 securing legal title to a “Qualifying Property” (property ownership in Malta of minimum EUR320,000 / EUR270,000 if in Gozo or the South of Malta OR property lease in Malta of minimum annual rental EUR12,000 / EUR10,000 if in Gozo or the South of Malta);
2 investment in a “Qualifying Investment” (EUR250,000);
3 being in possession of an annual income of minimum EUR100,000 OR in possession of capital of minimum EUR500,000;
4 being in possession of health insurance; and
5 payment of the Contribution (EUR30,000)
This particular Residence Programme is not inspired by tax considerations, and in fact it does not directly address tax issues.
Further details, including relevant Application Forms and Guidelines, are still awaited to be published.