Malta’s permanent residency program began in the 1960s when a retirement program was launched to allow British retirees to relocate to Malta and enjoy a more favorable personal tax system in Malta. It has evolved into several programs, some of which are still in existence today, including the Malta Global Residence Program.
The 2021 Permanent Residence Program is being developed following changes to the Malta Residence Visa Program, or MRVP, which revolves around investment in government bonds and listed equities. The Malta Permanent Housing Scheme of 1988 was created to attract proportional people, and their families will receive permanent residency in Malta. The scheme is attractive to retirees, writers, intellectuals and international consultants, business people, or only those who want to set up alternative housing that suits their lifestyle and tax profile.
Malta can grant a permanent residence permit to a citizen of any country outside the EU. Applicants do not need to speak Maltese or study Maltese history. Furthermore, there is no need to reside in the country, neither before nor after obtaining a Maltese residence permit.
Malta Investment Eligible for Permanent Residence
If the applicant chooses to rent rather than buy a viable property, the Maltese government’s involvement may increase. Currently, qualifying property in southern Malta must be purchased for at least 27 270,000 or rented for 10,000. In the rest of Malta, the property’s minimum value should be 000 300,000 or 12 12,000 in rent. Under the legal notice expected in the coming weeks, any property buyer is entitled to 68,000 or 98,000 if the investor leases a property instead of buying it—qualifying property in the south of Malta at least 300,000 300 or; 10,000 to be rented. In the rest of Malta, the property rent should be at least 350 350,000 or 000 12,000.
Malta Eligible for Permanent Residence
1-Through financial eligibility, an investor has to declare an investment of € 500,000, of which 000 150,000 has to be converted into financial assets.
2-Family Applications Malta supports the Permanent Housing Program and allows the following individuals to be added to the Family Application for Permanent Residence:
3-Unmarried couples in long-term relationships and
4-Independent unmarried children with no age limit, as well
5- Parents and parents on both sides.