Residence in Malta: Simple Steps and Key Insights

Looking to establish residence in Malta? This guide cuts through the noise, providing direct answers about the Malta Permanent Residence Programme (MPRP). Learn precisely what’s needed to qualify for residency, from financial commitments to application processes, and start your journey to living in Malta now.

Key Takeaways

• The Malta Permanent Residence Program (MPRP) present avenues for non-EU individuals to gain residency in Malta through investment in property, government contributions, and meeting other specific criteria, with family inclusivity and potential tax benefits.
• Malta offers various types of residence permits, with different requirements and associated privileges for living, working, and family reunification, alongside the potential for citizenship through investment after a residency period.
• Quality of life considerations in Malta include a top-tier healthcare system, reasonable cost of living, and a welcoming community to foster social ties, in addition to clear eligibility criteria for property investment, taxation, financial responsibilities, and a selection of residency programs tailored to individual needs.

Exploring the Malta Permanent Residence Programme

The Malta Permanent Residence Program (MPRP) offers a remarkable opportunity for non-European Union (EU) nationals seeking to establish a solid presence in Europe. This program provides a pathway to obtaining a residence permit in Malta, granting individuals the right to indefinite residence in this European nation. To be eligible for the program, applicants must meet specific investment requirements, including property acquisition or rental and a government contribution.

One of the notable advantages of the Malta Permanent Residence Program is its accessibility to individuals who are currently residing outside Malta. This means that prospective applicants can initiate the application process from their home countries, making it a convenient and flexible option for those seeking European residency.

Understanding the Requirements

Understanding the Requirements for obtaining permanent residency in Malta is crucial for applicants seeking to embark on this journey. The eligibility criteria entail several key components:

• Minimum Age Requirement: The main applicant must be at least 18 years old to qualify for permanent residency in Malta.
• Financial Affidavit: Applicants must provide an affidavit affirming that they possess capital amounting to no less than EUR 500,000. Of this amount, EUR 150,000 should be held in financial assets.

To fulfill the requirements for obtaining permanent residency, applicants must adhere to the following investment criteria:

1. Property Acquisition or Lease: Applicants have the option to either purchase a property valued at EUR 350,000 (EUR 300,000 in South Malta or Gozo) or enter into a property lease arrangement with an annual rent of EUR 12,000 (EUR 10,000 in South Malta or Gozo) for a minimum period of five years.
2. Requirement 2: Economic Contribution: In addition to property investment, applicants are required to make a financial contribution to the Maltese economy. This contribution amounts to EUR 28,000 if the applicant purchases a residential property, or EUR 58,000 if the property is leased.
3. Requirement 3: Charitable Donation and Administration Fee: Applicants must also fulfill philanthropic obligations by making a donation of EUR 2,000 to a non-governmental organization. Additionally, a non-refundable administration fee of EUR 40,000 is applicable.

By meeting these stipulated requirements, applicants can proceed with their application for permanent residency in Malta, paving the way for a secure and prosperous future in this vibrant European nation.

The Application Process

Navigating the Application Process for the Malta Permanent Residence Program is a pivotal step towards securing your residency in this captivating Mediterranean destination. Here’s an in-depth look at the process and its key components:

1. Eligibility Confirmation: Before diving into the application process, it’s essential to ensure that you meet the eligibility criteria outlined by the Malta Permanent Residence Program. Once confirmed, you’re ready to proceed to the next steps.
2. Submission to Residency Malta Agency: The application itself is relatively straightforward and is submitted to the Residency Malta Agency, the official government entity overseeing the programme. Upon submission, rigorous due diligence checks are conducted to assess the applicant’s background and suitability for residency.
3. Qualifying Investments: Upon successful completion of the due diligence process, applicants are required to fulfill the qualifying investment criteria as specified by the programme. This typically involves making the prescribed financial contributions and adhering to property acquisition or lease requirements.
4. Issuance of Residence Permit: Following the completion of all necessary investments and documentation, successful applicants are issued a Maltese residence permit by the Residency Malta Agency. This permit serves as official documentation of your residency status in Malta.
5. Residence Certificate: Alongside the residence permit, applicants are also provided with a Maltese residence certificate, further solidifying their status as permanent residents of Malta.
6. Required Forms: The application package typically includes several forms that must be completed and submitted. These forms may include the Application Form (MPRP 1), Personal Details (MPRP 2), Medical Report and Questionnaire (MPRP 3), and Dependant Declaration – Adult (MPRP 4). Ensuring the accurate completion of these forms is crucial for a smooth application process.

By meticulously adhering to the application requirements and procedures outlined by the Malta Permanent Residence Programme, applicants can navigate the process with confidence, ultimately securing their residency in this idyllic European destination.

Inclusion of Family Members

One of the key features of the MPRP is its inclusivity. The program allows the inclusion of family members in the application as dependents. This includes:

• Your spouse or partner
• Dependent children of any age (including adopted children), who are primarily reliant on you, the main applicant
• Dependent parents

All of these family members are eligible for inclusion in the MPRP.

Including family members as dependents necessitates the submission of signed application forms and supporting documents for each one.

Benefits of the Maltese Permanent Residency Program

Exploring the Advantages of the Maltese Permanent Residency Program reveals an array of benefits tailored to enhance the lives of its participants.

• Residence in Malta: Embrace the opportunity to establish residency in Malta, a prestigious EU country renowned for its rich cultural heritage and robust economy.
• Malta Permanent Residence Programme: Enroll in the esteemed Malta Permanent Residence Programme (MPRP), offering a pathway to long-term residency and stability in this vibrant Mediterranean nation.
• Residence Permit: Obtain a coveted residence permit, granting you and your family members the right to reside and thrive in Malta for the foreseeable future.
• Financial Assets: Demonstrate your financial stability by showcasing your investment in Malta, ensuring compliance with the programme’s requirements and securing your residency status.
• Tax Benefits: Enjoy special tax status and potentially minimize your tax liabilities, benefiting from Malta’s tax-efficient jurisdiction and favorable tax regulations.
• Visa-Free Travel: Access visa-free travel within the Schengen Area, enabling seamless exploration and business engagements across Europe for up to 90 days within a 180-day period.
• Inheritance Tax: Navigate inheritance tax considerations with ease, as Malta offers favorable regulations regarding inheritance and estate planning for residents.
• Family Inclusion: Include all eligible family members in the programme, fostering unity and cohesion as you embark on this exciting journey together.
• Efficient Application Process: Experience a streamlined application process with a swift turnaround time of just 2-3 months, ensuring expedited access to the programme’s benefits.

By embracing the Maltese Permanent Residency Program, participants gain access to a plethora of benefits, from unrestricted travel across Europe to long-term residency in a tax-efficient jurisdiction, all while enjoying the unparalleled beauty and lifestyle Malta has to offer.

The Path to Permanent Residency: Malta Residence Permit Options

While the MPRP offer excellent routes to residency in Malta, it’s not the only options available. Malta offers a variety of residence permits for different purposes, such as work, study, family reunification, and investment. Each category provides its own unique advantages, such as the ability to live and work in Malta, travel to Schengen countries without visas, and secure permanent residency.

Types of Residence Permits for Malta

When it comes to residency permit, Malta offers two main options: a temporary residence permit and a permanent residence permit. Temporary residence permits are granted for a specific duration, usually ranging from one to five years, while permanent residence permits allow you to reside in Malta indefinitely.

The specific advantages and limitations of these permits can vary based on the type of permit and your individual situation.

Temporary vs Permanent Residence Permits

While both temporary and permanent residence permits provide the opportunity to live in Malta, there are crucial differences between the two. Temporary residence permits require you to reside in Malta for a minimum of 183 days annually and limit the duration of time spent outside of Malta to no more than 183 days per year.

On the other hand, a permanent residence permit leads to the acquisition of long-term residency status and the issuance of a residence card valid for five years, providing the holder with the privileges associated with permanent residency.

Special Considerations for Third Country Nationals

If you are a third-country national in Malta, there are additional requirements and considerations you should be aware of. For instance, you’ll need to apply for an employment license with Jobsplus and subsequently apply for a residence permit.

It’s also important to be aware of your rights and responsibilities when holding a valid residence permit, and to consult official sources such as Residence Malta and Identity Malta for comprehensive information.

Taxation and Financial Considerations for Malta Residents

Understanding the taxation system is a major consideration when deciding to take up residency in another country. In Malta, residents are liable to pay taxes on their income earned globally, whereas non-residents are only taxed on income and chargeable gains generated within the territory of Malta. The definitions of residence and domicile for taxation purposes in Malta are also crucial to understand.

If you’re both an ordinary resident and domiciled in Malta, you are subject to taxation on your worldwide income. However, if you’re a resident but not domiciled in Malta, you are only taxed on income sourced within Malta.

Tax Benefits and Obligations

One of the key attractions of Malta for many expats is the country’s favorable tax regime.

• For foreign-source remitted income, there is a minimum tax of €10,000 (or €15,000 for specific cases).
• Foreigners who become residents of Malta are not subject to minimum tax or remittance requirements.
• Residents are obligated to make an annual minimum Malta income tax payment of at least €15,000.

The tax rate for income sourced from foreign countries in Malta is 15%. Additionally, unlike some European countries, Malta does not impose any inheritance tax, which can provide significant tax advantages for its residents.

Opening a Bank Account in Malta

Living in Malta would likely warrant the need for opening a bank account. To do so, you’ll need to provide an identification document like a passport or ID card, along with proof of address in Malta, which can be a recent utility bill or a rental contract. If you’re a non-resident, you can still open a bank account in Malta without providing proof of address in Malta.

The minimum deposit necessary to open a bank account in Malta varies from €50 to €1,000, depending on the specific bank and the type of account being opened. And yes, banks in Malta do allow the opening of multiple currency accounts. What’s more, you can open a bank account online without the necessity of physical presence.

Living the Maltese Life: Quality of Life and Integration

Beyond the technicalities of residency programs and taxation, it’s important to consider the quality of life that Malta offers. Malta’s healthcare system is ranked among the top 5 globally according to the World Health Organization. The cost of living in Malta is also favorable, with a family of four requiring approximately €2,355 per month, excluding rent, while a single person may need around €860 per month to cover expenses.

Furthermore, Malta’s education system is highly esteemed, with an array of schools available to cater to the needs of your family.

Healthcare System and Insurance

Offering free healthcare services to Maltese citizens and European Union residents, Malta boasts a world-class healthcare system. But even if you’re not an EU resident, you can still utilize public health facilities, though you’ll need to cover 100% of your medical expenses.

As part of the application requirements for residency in Malta, you’ll need to secure an adequate health insurance policy that covers hospitalization in Malta.

Education, Employment, and Lifestyle

Malta offers a robust education system that adheres to the British curriculum, supplemented with a selection of international schools. For employment, non-EU residents are required to obtain a Single Work Permit, typically arranged by their employer, in order to work legally in Malta. The average annual gross salary in Malta is approximately €18,660.

Beyond work and school, Malta offers a vibrant lifestyle with plenty of social activities and opportunities to meet new people.

Family and Social Aspects of Residency in Malta

Residency in Malta offers much on a personal level, beyond the financial and legal aspects. Whether you’re aiming to bring your family along or looking to build a new social network, Malta’s family-friendly society and welcoming community make it an ideal destination for establishing a new home.

Family Reunification and Dependent Status

The straightforward process of family reunification in Malta allows for the entry and residence of the following family members of the sponsor:

• Spouse or partner
• Dependent children of any age (including disabled children)
• Dependent parents and grandparents of third-country nationals who reside lawfully in the country.

As for dependents, children over 18 and parents residing with the applicant may still be eligible to apply as dependents if they are financially dependent on a Malta resident or citizen.

Building a Social Network

Building a social network in Malta is relatively easy, thanks to the country’s friendly locals and a large expat community. Joining local clubs, participating in community events, and volunteering are excellent ways to meet new people and integrate into Maltese society.

Moreover, Malta features a variety of social groups and communities, catering to individuals of all nationalities and age groups, providing plenty of opportunities to make new connections and friendships.

Summary

Becoming a resident in Malta is an attractive proposition for many non-EU nationals. With its favorable tax regime, high living standards, excellent healthcare and education systems, and the possibility of visa-free travel within the Schengen Area, Malta offers a lifestyle that’s hard to beat. If you choose the Malta Permanent Residence Programme, you’ll find that Malta offers a warm welcome, a high quality of life, and a host of opportunities for you and your family.

Frequently Asked Questions

How do I get residency in Malta?

To obtain residency in Malta, you need to meet the requirements such as having a clean criminal record, making the necessary investment, and holding the property for at least five years.

Permanent residency in Malta: How much does it cost?

To obtain residency in Malta, you would need to purchase a property with a minimum value of €300,000 EUR or rent a property for €10,000 EUR.

Permanent Residence in Malta: How long does it take to get?

The Maltese Permanent Residency by Investment can be obtained in 2-3 months.

What is the Malta Permanent Residence Programme?

The Malta Permanent Residence Program is a residency scheme available for non-EU nationals who fulfill certain investment criteria, such as property acquisition or rental, and a government contribution. It is designed to provide permanent residency in Malta for eligible individuals.