How to get Malta residence permit through real estate investment?
The program, which provides for the issuance of a residence permit of Malta for investments, was launched in 2013, together with the program for obtaining economic citizenship.
Thus, the Mediterranean government is implementing a plan to attract high-income foreign businessmen to the development of the economy.
Malta residence permit through real estate is issued within 3-4 months from the date of application. In addition to a residence permit, the investor receives a special tax status. Thus, the cardholder has the following perspectives:
visa-free travel to Schengen countries;
operational change of tax residence;
A stable tax rate is set at 15%, or 15,000 euros per year.
There are no strict requirements for mandatory stay in Malta. As well as examinations on knowledge of the language or history of the state.
Malta is often chosen as a “backup airfield”, where you can save capital and wait out troubled times.
Who can apply for a residence permit and resident status in Malta?
Any adult citizen with sufficient funds can apply for Malta residence permit for investment and resident status. The presence of documents confirming the legality of capital and the absence of a criminal record is mandatory. Valid health insurance is also required.
In addition to the main investor, a spouse, children under 25 years old and parents over 55 years old can be included in the application. Material dependence on the main applicant will have to prove.
Conditions that must be met to obtain Malta residence permit for investment
Acquisition of real estate in the amount of 275,000 € (north or center of the country), 220,000 € (island of Gozo or southern regions) or rent with an annual fee of at least 9,600 € (north or center of the country), 8,750 € (island of Gozo or southern areas of Malta).
Registration of a medical insurance policy, the coverage of which covers the entire territory of the EU.
A one-time payment of the administration fee in the amount of 6,000 € (if the housing is rented / bought in the north or in the center of the country) or 5,500 € (if the purchase / rental is made on the island of Gozo or the southern territories of Malta).
Payment of taxes once a year.
How much does Malta property cost?
Malta is a small state in which property prices are constantly rising. This is due to the limited number of suitable for development sites and the systematic increase in demand for resort and residential facilities. Rental prices also increase from year to year.
The highest real estate prices are traditionally demonstrated by Valletta, the capital of the country. One m2 here costs about 2,200 euros. Luxury cottages on the first line are sold for 1 million euros. The complex of villas with a pool and a private pier for mooring a yacht will cost no less than 7 million euros. For lovers of unusual objects real castles are erected with a view of the endless sea.
But on sale are more budget options. A metropolitan apartment in an area remote from the sea costs from 100,000 to 250,000 euros. A cottage in a small town can be bought for 600,000 euros, in a resort town real estate will cost more – up to 900,000 euros.