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The Malta Permanent Residency has made updates to its programme to prove that it is the best option for permanent residency aspirants from Europe.
Specifically, the Malta Permanent Residency Programme Unit has made several changes to the programme’s pricing structure and permanent residency requirements, and said these changes are effective from 1 January 2015.
We advise individuals aspiring to the Malta Permanent Residency Programme to seize the opportunity and act quickly and apply for this programme, as your file will be processed based on the previous requirements as long as we are in 2024.
The Malta Permanent Residency Programme was established in 2015 under Section 288 of the Maltese Law, and was updated in 2021 under Section 121, and has been administered by the Malta Agency ever since, which is based on the principle that anyone who invests and contributes to the country is eligible for Malta Permanent Residency program.
The Malta Permanent Residency Program is an invaluable option for several reasons, including the possibility of permanent residence in Europe, the eligibility to travel to 29 European countries without restrictions, the possibility of including family in the file, and the advantage of investing in European real estate with long-term benefits.
For businessmen and wealthy individuals, it is worth noting that Malta is a politically stable country with laws that protect foreign investors, its language is English alongside Maltese, its geographical location is excellent, it enjoys a warm climate, and it has an excellent education and health system.
The bright spot is on the tax side, as there are no taxes on foreign trade, capital gains, inheritance and wealth, in addition to benefiting from Malta’s double tax treaties with 70 countries.
To qualify for Maltese Permanent Residency, you must invest in the real estate sector and wait 6 months to obtain a Maltese residence permit, and to maintain your permanent residency, you must continue your investment for 5 years.
In November 2024, the Malta Permanent Residency Unit announced several changes to the said programme, which will come into effect from the beginning of 2025. The changes focused on two areas, the first being the increase in minimum investment values and changes to the requirements for obtaining Malta permanent residency.
For more details, they focused on real estate investment amounts such as purchase and rental, government and administrative amounts for the programme, and fees imposed on dependents who are added with the applicant or later after obtaining Malta Permanent Residency.
What was mentioned was about the investment amounts required, while it included changes to the wealth requirements that the investor must have to qualify for the programme, in addition to adjustments to the age limits for family members who are eligible to apply with the main applicant.
Malta Permanent Residency Programme or MPRP made these changes in order to maintain the unique status of the programme and remain on the same level and requirements as other residency by investment programmes in Europe.
Investment requirement changes for Malta Permanent Residency
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The amounts required to obtain Malta Permanent Residency through investment in real estate were €300,000 in the southern regions of Malta and €350,000 in the rest of Malta, and have now been consolidated to $375,000.
In addition to purchasing the property, you were required to contribute €68,000 regardless of where in Malta you invested, and now you must contribute €80,000 instead of €68.
The same applies to the lease option requirement, where the annual rent in southern Malta was €10,000 and in the rest of Malta it was €12,000, and has now been consolidated to €14,000 per annum.
In addition to the lease requirement, there was a requirement to contribute €98,000 regardless of where you chose to rent the property, and this has now increased to $110,000.
The above amounts were for the main applicant, and to add your family members, such as spouse and children, it was €7,500 per person, now it is €10,000.
Finally, there are some fixed payments that you will have to make, the first of which is that as a main investor, you will have to pay administrative costs of €50,000, compared to €40,000 previously, and government costs of €30,000 if you choose the property ownership option and €60,000 if you choose the rental option, which have not changed much with the new changes.
Regarding Malta Permanent Residency for the family members, children of any age were previously allowed to apply, but this has now been changed to accept children under the age of 29, provided they are unmarried and supported by the main applicant to join the main applicant’s spouse, parents and grandparents.
The asset requirements for the main applicant have also been updated, with the requirement to prove that you have assets of at least €500,000, of which €150,000 must be financial investments, which was the case previously, or $650,000, of which $75,000 must be financial investments, which was added with the latest amendment.
In addition to the recent changes, there are other fixed requirements, including that you must be a citizen of a third country that is not from Europe, the European Economic Area or Switzerland. Nationals of Iran, Afghanistan and North Korea are also currently unable to apply for this program, with other countries being added and removed depending on political developments in their country.
Finally, they must be of good character, must prove that they are free from communicable diseases, must prove that they are able to support themselves and their family, and must apply through an accredited office of the Malta Permanent Residency.
If you would like to know more about the Malta Permanent Residency Program or any other citizenship by investment program around the world, contact a member of Global Citizen Consultants LLC, the authorized office for residency and citizenship programs around the world.
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