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Malta Permanent Residence permits

Malta Permanent Residence Permits

     

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A. Acquisition of Property

B. Annual Income Remitted to Malta

C. Capital or Income Qualifications

D. Employment/Engagement in Business

E. Post-Issue Conditions

- Application Package/Forms

F. Table of Requirements in various currencies

Any foreigner, of whatever nationality, may submit an application for a permanent residence permit provided specific conditions are satisfied. This permit is issued on an indefinite basis.

A. Acquisition of Property

An applicant for Maltese permanent residency must purchase an apartment in Malta for not less than EUR75,000. Alternatively, the applicant may opt to lease or rent a property in Malta of which the minimum rental is EUR4,230 (approx. US$4,900) per year. Twelve months after taking up residence in Malta, a permanent resident is required to produce evidence that you have complied with this condition. There are no limitations to capital investment in Malta. Investments in real estate in Special Designated Areas are unlimited, but are limited to one owner-occupied house or apartment outside such areas.

Compared to the rest of Europe and the Mediterranean, housing in Malta remains still relatively cheap. For instance a two-bedroom apartment in a good location is likely to cost from Euro 100,000 (approx. US$270,000) or more depending on the level of finish, sea-views and so on. A semi or fully-detached villa, usually with three to four bedrooms, a swimming pool and two to four car garage sell for about Euro 300,000 upwards.

In Malta, no property taxes, council taxes, rates or other official costs are due on property owned freehold.  Ground rent may be payable when a property is not purchased free hold, but this usually amounts to a negligible annual payment.

B. Annual Income Remitted to Malta

The minimum annual income to be brought into the country is EUR14,100 per applicant, with an additional EUR2,350 for each dependent (spouse, children under 21 years of age and parents/grandparents wholly dependent on applicant). In other words, a married couple would, for example, have to bring in at least EUR16,450 per year.

C. Wealth Test: Capital / Income Qualifications

Applicants must produce evidence of an annual income of EUR23,500 or over, OR a capital equivalent to EUR352,500 or over. In either case, the whole amount is not required to be brought into the country, and the value of the property purchased locally is also taken into account as part of the capital requirement.

D. Employment/Engagement in Business

No employment or engagement in business may be undertaken by applicants for permanent residency unless authorised by the competent authorities. Interestingly, however, official Government policy welcomes the introduction of overseas expertise and ideas in the tourism, manufacturing and catering sectors and a number of interesting options are outlined elsewhere.

E. Post-Issue Conditions

Once in possession of the permit:

1. You will be required to take up residence by not later than one year from the issue-date of your permit.

2. Your must not exercise any occupation or profession, hold any appointment, seek employment, or engage in any form of business in Malta.

3. You should not participate in political activities; however, should you be interested in local council activities you may contact the Local Councils Department, at the address shown below.

Application Package

The following is an indicative list of documents necessary in support of an application for residence:

1. Passport copy

2. 5 x passport photographs

3. Birth certificate

4. Marriage certificate (if married)

5. Proof of income / proof of assets

6. Clean criminal conduct certificate

An interview may be requested by the Maltese Embassy or Consulate in your home country.

Our residence application package, including the official application form, easy-to-follow guidelines and a sample documentation will be provided upon payment of our initial retainer fee.  We will personally also assist you throughout the documents preparation process.

F. Table of Requirements in various currencies 

 

EUR

GBP*

USD*

Min. annual income

23,300

16,000

30,000

Min. total wealth

350,000

240,000

450,000

Minimum tax

4,200

2,900

5,400

Minimum annual remittance (main PR)

14,000

9,600

18,000

Minimum annual remittance (per additional dependent)

2,330

1,600

3,000

Minimum rental property value if rental

4,200

2,900

5,400

* subject to changes in exchange (European Central Bank)

Malta Residence News

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First Malta Citizenship Approvals | 12/11/14

Global Residence Citizenship Conference Singapore | 30/10/14

Malta Residence Programme for EU Nationals launched | 18/08/14

Malta Citizenship | 31/05/14

Malta Citizenship Approvals Issued | 20/03/14

Malta Citizenship Programme | 18/03/14

Identity Malta Approved IIP Agents | 27/02/14

Maltese Citizenship Regulations Published | 06/01/2014

Identity Malta: New Expats Agency Launched | 01/10/2013

 

 

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