Revival of Malta Permanent Residency Program with Exciting Reforms

Malta is an island country situated at the Central Mediterranean Sea, comparatively a small country but has a great strategical value to boost the economy of the whole region. However, the country is a blend of multiple cultures like modern Europe and classic African and Middle East culture. Malta Permanent Residency Program has replaced the old residency scheme and is operating for more than a week now.

Basically, Malta is a hub of various cultures as from 1990 to 2000, people from different ethnicities & nationalities decided to migrate to Malta & start a life there. You will get to see the communities of Greeks, Sindhis, Palestinians, and few British Nationals. There is so much cultural acceptance in Malta. In addition, Malta’s economy majorly depends on agriculture, fishing, and manufacturing of pharmaceuticals and some other products. In 2013, Malta introduced its residency program to give a boost to their local economy. Initially, Due to great tax relief and Malta’s growing economy, it grabs the attention of foreign investors since its launch.

 

The world famous Azure Window in Gozo – Malta

 

Investment Options to Get Malta Permanent Residency Program:

Malta Permanent Residency Program is making a comeback with some exciting changes in investment options and processing time. Also, In this article, we are going to share the revised version of Malta PR and why Malta is a good option to expand your business.

 

Option 1: Rent a Property

Investors can use this option by paying a non-refundable government fee of EUR 98,000. Other than the government fee, the applicant must have to maintain & pay EUR 10,000 as an annual rent of the property in the south region of Malta for 5 years. Also, it is a must to donate EUR 2,000 to an internationally registered NGO operating in Malta. A total of minimum EUR 150,000 is required for this rental property option to get Malta Permanent Residency.

 

Option 2: Purchase a Real Estate Property

Applicant needs to make a real estate investment in the South region of Malta with an amount of a minimum of EUR 300,000. Similarly, This real estate investment is refundable. Applicant can rent it out or sell it after 5 years. Also, additional government fees of EUR 68,000 and EUR 2,000 donations to any NGO are applicable and these two amounts are non-refundable. A total minimum of EUR 370,000 goes as an investment in this option.

 

 

Why Choose Malta Permanent Residency Program?

 

  • Malta’s PR has one of the fastest processing routes of 9 to 12 months.
  • Being a European country, Malta allows visa-free travel to the whole European Schengen Region to its citizens.
  • Malta Permanent Residency includes your whole family as dependents.
  • After 5 years of residency, there is a possibility to get citizenship.
  • In addition, Easy access to European education institutes and healthcare facilities.
  • There is no residency or travel requirement during the process.
  • It does not require any specific education or work background.
  • Applicants have the freedom to sell the property after 5 years and get great returns.
  • Moreover, Malta has the lowest tax rate on wealth and worldwide income.
  • Applicants are allowed to maintain their current citizenship.

 

Who is eligible to get Malta PR?

 

  • Foreign Investors who have a high net worth.
  • No specific education, interview, or language requirement.
  • Applicant must be above 18 years of age.
  • Investors must need to show evidence of the amount they are investing.
  • It is a must to have a clean criminal record.
  • Applicants & dependents must be in great health conditions.

 

How Saad Ahsan Immigration Law Firm can help you?

Saad Ahsan Immigration Law firm is a pioneer in the industry of immigration and citizenship by investment. With a highly experienced team of Citizenship & Immigration Advisors, we are 24/7 available to cater to your queries. Operating in 3 major cities of Pakistan, we take complete responsibility from case preparation to final approval. Our relevant Citizenship advisor at Saad Ahsan Immigration Law Firm will help you with all the legal processes and completes your process in the given time.