There are two types of residency permits to get in Malta – ordinary residence and permanent residence. Ordinary residence is for those individuals that emigrate from European Union and tax payments are a bit different of those who are emigrating outside European Union member states. Permanent residence is for any interested person that wants to immigrate to Malta. Person applying needs to seek out lawyer to get the best offer and the permanent residence permit needs to be renewed every year. The ordinary permit has to be renewed every 5 years.
There is also a Global Residence Program that gives a special tax statuses for non-European Union residents. Before enrolling in Malta’s citizenship applications there must be some consultations with legal advisors or lawyers to see best option for person’s needs and situation.
Acquiring residence permit or citizenship in Malta
The process of acquiring residence permit or citizenship in Malta starts with application to Valetta, because it is the only place in Malta that accepts permit requests. It can be submitted by post or presented by someone else. There aren’t any application fees for applying to residence permit in Malta. Only exceptional persons get charged such as applicants that aren’t European Union citizens or long-term residents.
Those who have the ordinary residency in Malta, but aren’t domiciled in the country, are subject to income tax on any income or capital gain happening in Malta. This also stands for income that’s gained outside Malta but is received in Malta’s territory. The maximum for income tax is 35 percent and there is also program that offers rules for European Union, EEA and/or Swiss nationals.
Overall, acquiring residence permit or citizenship in Malta is not overly complicated or expensive. The strict rules only are a problem with the shady applicants. If there is a need for citizenship with right intentions the application process is no longer hard or complicated.
Citizenship by investment in Malta
Malta recently introduced citizenship in return for investing in Malta as Malta Individual Investor Program. This program was one of the first to be recognized and praised by larger scale such as European Commission. Investing in country that is growing and becoming more interesting to entrepreneurs, scientists and more is a great choice for anyone who is interested in getting a residence permit in the country. This program has very strict application rules to keep frauds away from it.
Main applicant must invest 650 000 US dollars to Malta and the family member should also invest with lesser amounts of money. There is also a chance to buy property or real estate for at least 5 years.
Required documentation for acquiring the residence permit
To apply for residence permit in Malta there are few documents that need to be submitted – application form referring to the reasoning behind the application of residence permit in Malta and identity registration form are the documents that first need to be submitted.
The documents of identification are original copy of passport of ID card and in some residence permit application cases, there needs to be proof of financial means that will support the person coming to Malta. If the applicant is a student wanting to study in Malta there is a need to present documents in English and in case of non-EU students, there must also be a rental declaration form that proves renting a property in Malta. Health insurance is also needed in some cases.
Application forms can be found online and the applicants can even apply to e-residency that is now popular among foreign students wanting to enroll in studies in Malta.
Benefits of citizenship in Malta
There are some benefits of gaining a citizenship in Malta, such as having the chance to travel to more than 180 destinations visa-free or getting visa on arrival. This makes the citizenship very useful in traveling is part of the lifestyle. Mobility in our age is highly valued and citizenship in Malta can give the perks of easy travels. By getting a Malta citizenship there is an opportunity to work anywhere in European Union and also study and live there.
As the program of getting a residence permit and citizenship in Malta is very strict the applicants are usually very highly respected people which ensure the crowd of immigrants being educated and good workers. As an entrepreneur or employer this fact is highly valued. The application process is relatively quick and not very expensive. In comparison to other European countries, citizenship is not impossible to acquire therefore making it a good place to be in.
Malta’s location is another strategically thought-out detail that can give the person choosing to acquire residence permit and citizenship a great advantage overall.
Citizenship by investment in Malta
Malta recently introduced citizenship in return for investing in Malta as Malta Individual Investor Program. This program was one of the first to be recognized and praised by larger scale such as European Commission. Investing in country that is growing and becoming more interesting to entrepreneurs, scientists and more is a great choice for anyone who is interested in getting a residence permit in the country. This program has very strict application rules to keep frauds away from it.
Main applicant must invest 650 000 US dollars to Malta and the family member should also invest with lesser amounts of money. There is also a chance to buy property or real estate for at least 5 years.