A new residence programme for Non-EU/EEA/Swiss nationals has been introduced by virtue of the Malta Residence and Visa Programme Rules 2015, which would entitle a beneficiary and his/her dependants the right to reside indefinitely in Malta.
What are the requirements?
- ownership of property in Malta having a purchase value of not less than Eur320,000 or if the property is situated in Gozo or in the South of Malta, the purchase value should be not less than Eur270,000; OR
- rental of property in Malta for not less than Eur12,000 per annum, or if the property is situated in Gozo or the South of Malta the minimum rent must be not less than Eur10,000 per annum;
- satisfaction of a fit and proper test;
- provision of a sworn declaration confirming that the applicant has either an annual income of not less than Eur100,000 arising outside Malta or else has a capital of not less than Eur500,000;
- health insurance covering the EU territory;
- holding of a qualifying investment for at least five years having an initial value of Eur250,000.
Who qualifies as a dependant?
- the spouse of the main applicant in a monogamous marriage or in another relationship;
- a child including an adopted child, of the main applicant or of his/her spouse who is less than 18 years of age;
- an unmarried child of the main applicant who is between the age of 18 and 26 years of age and who is financially dependant on the applicant;
- a disabled child of the main applicant and has been certified as such in accordance with the Equal Opportunities (Persons with Disability) Act.
How long can you stay in Malta?
Once a Residence Certificate is issued, the applicant may reside in Malta indefinitely. The said certificate however is monitored annually for five years from the date of issue and every five years thereafter.
What does it cost?
An applicant must make a contribution of Eur30,000. The sum of Eur5,500 is payable upon submission of application and is non-refundable. The balance will be due as soon as it is confirmed that the applicant qualifies for Malta residence status.