MALTA PERMANENT RESIDENCE SCHEME
Conditions for Maltese Residence
Acquisition of Property
Annual Income Remitted to
Capital or Income
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
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
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
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
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.
(Lm 1 = approx. Euro 2.35 = approx. USD 2.7)
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.
The following is an indicative list of
documents necessary in support of an application for residence:
5 passport photographs
Marriage certificate (if married)
Proof of income / proof of assets
Clean criminal conduct certificate
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
of Maltese Residence
Visa free travel in the Schengen Area
Confidentiality of applicants' data
Residence Scheme amendments (October 2004)
Malta Permanent Residence Index