While some of the best European Golden Visas are expected to end, there’s still a lot that Europe can offer. We understand that the news of the golden Visa closing did not sit well with anyone globally but this is not the end of the world. Malta Permanent Residency Program (MPRP) is not new but gaining investors’ attention again. The program was designed to attract foreign investors who wish to obtain permanent residency leading to citizenship in Malta, an archipelago in the Mediterranean Sea. Today, we’ll tell you everything about Malta PR you need to know before investing.
Who is Eligible?
The program offers permanent residency to non-EU citizens who are
- Above 18 Years of Age
- Have a Clean Criminal Record
- Possessing Adequate Health Insurance
- Have Sufficient Funds to invest in Malta Real Estate
The best thing about Malta PR is that it allows residents to live, work and study in Malta. You do not need any additional work permits or visas. The permanent residency program is popular among individuals seeking benefits from the country’s tax-efficient system. Malta’s real estate industry is growing, and property value guarantees great ROIs.
Malta Permanent Residency Benefits
The Malta Permanent Residency Program offers several benefits for individuals who are planning to live and expand their business in Malta:
Freedom of Movement
Applicants who get Permanent Residency can enjoy visa-free travel within the Schengen area comprises 26 European countries. Once the residency matures into citizenship, you can have visa-free access to 186+ countries. The Maltese passport ranks at 8th position as it unlocks the whole world for you.
Right to Work
Being a Malta resident, you can live, work and establish a business in Malta. No additional work permit or visa approvals are required to enjoy these perks.
Improved Healthcare Facilities
Maltese residents can access free or heavily subsidized healthcare services, including hospitalization, specialist consultations, and diagnostic tests.
Malta operates a tax-efficient system, with a flat tax rate of 15% on foreign income remitted to Malta. Additionally, Maltese residents can get benefits and incentives, including exemptions from inheritance and wealth taxes.
Quality of life
Malta is a safe and peaceful country with a mild Mediterranean climate. The lifestyle is a blend of rich cultural heritage and a high standard of living. Malta offers various recreational activities, including water sports, hiking, and cultural events. The economic and political situation in Malta is stable.
Overall, the Malta Permanent Residency Program provides a pathway to obtaining a secure and stable life in Malta.
How to get Malta PR?
The cost of the Malta Permanent Residency Program (MPRP) can vary depending on several factors, such as the type of investment made by the applicant and the number of family members included in the application.
Currently, there are two investment options available under the MPRP:
Purchase a Real Estate Property in Malta
- 300,000 EUR Property Purchase in GOZO or Southern Malta
- 350,000 EUR Property Purchase in the Rest of Malta
- Additional 68,000 EUR as a government fee
- 2000 EUR as a donation to any local NGO in Malta
Note that, the real estate investment amount is refundable once your residency leads you to citizenship status.
Rent out a Property in Malta
- 10,000 EUR amount to pay the annual rent of property in GOZO or Southern Malta
- Non- Refundable 98,000 EUR as a government fee
- 2,000 EUR contribution to NGO in Malta
How we can help you?
Saad Ahsan Immigration Law Firm is a pioneer immigration firm in Pakistan. We have a team of experts providing the best citizenship and residency solutions. The company ensures smooth processing, transparency, and 100% success. We are operating as the no.1 immigration firm for more than two decades. If you are planning to relocate to Europe, Saad Ahsan Immigration Law Firm is your one-stop solution. Call us and book an appointment to enjoy the best immigration services.