ARTICLE
1 September 2015

New Residence & Visa Permit Programme

The new residence and Visa permit programme for foreign investors resident outside the EU was recently launched.
Malta Real Estate and Construction

The new residence and Visa permit programme for foreign investors resident outside the EU was recently launched. This is a new programme of its kind and would increase activity in the property market.

Under these new legal provisions, a residence permit may be obtained by persons over the age of 18, with a clean personal conduct record and that of their dependents and who could prove the ownership of property in Malta – for a minimum period of five years. Qualification requires a property purchase of a minimum of €320,000 or a property investment of a minimum of €270,000 in either Gozo or the south of Malta.

Alternatively, applicants could rent a property for an annual minimum of €12,000 in Malta or €10,000 in Gozo or the south of Malta. Residence could also be obtained if there was proof of income of at least €100,000 annually from sources outside Malta or proof of having a capital of at least €500,000. Applicants would also have to contribute €30,000 to the government and to be bound to invest at least €250,000 in Malta and Gozo spread over a period of five years.

Applications may be managed by approved agents such as lawyers, legal procurators, notaries or accountants and applicants would require a personal health policy and health policies for their dependents.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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