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PERMANENT RESIDENCE SCHEME
Conditions for Maltese Residence
A.
Acquisition of Property
B.
Annual Income Remitted to
Malta
C.
Capital or Income
Qualifications
D.
Employment/Engagement in
Business
E.
Post-Issue Conditions
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 permanent residency must own
a residence purchased for not less than Lm50,000 in the case of a house or
Lm30,000 in the case of an apartment. Alternatively, the applicant may
opt to lease or rent a property of which the minimum rental is Lm1,800
per annum. Twelve months after taking up residence in Malta, you will be
required to produce evidence that you have complied with this condition.
While you may invest capital in Malta, investments in real estate outside
Special Designated Areas are limited to one owner-occupied house or
apartment.
B. Annual Income Remitted to Malta
The minimum annual income to be brought into
the country is Lm6,000 per applicant, with an additional Lm 1,000 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 Lm7,000 per annum.
C. Capital or Income Qualifications
Applicants must produce evidence of an annual
income of Lm10,000 or over, or a capital equivalent to Lm150,000 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.
(Lm 1 = approx. Euro 2.41 = approx. USD 2.38)
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.
Benefits
of Maltese Residence
Visa free travel in the Schengen Area
Confidentiality of applicants' data
Permanent Residence Index
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