Establishing your new residence
The Malta Individual Investor Program (IIP)
The IIP offers applicants a fast track to the European citizenship and the European passport in return for a one-time investment. For the main applicant the minimum one-time cost under the individual investor program is approximately €880,000 should the applicant opt to rent out property instead of purchase property in Malta. Since Malta is a member of the European Union and part of the Schengen Area, non-EU applicants who successfully acquire citizenship under the Programme benefit from significantly improved mobility within the member states of the EU and the European Free Trade Association. They are also able to avail themselves of visa-free travel to more than 160 countries, including the United States of America, Canada and the United Kingdom. Besides giving successful applicants an unrestricted right to live and work within all the member states of the EU, the acquisition of Maltese citizenship has no tax implications.
The Malta Residence and Visa Program (MRVP)
This program, also known as the Malta Golden Visa, leads to residency, but has no recurring minimum tax – which makes this program preferable especially for long-term residents and retirees. The MRVP program requires a property purchase of no less than €270,000 EUR (or a property lease at no less than €10,000 per year for five years). The program further requires a non-refundable one-time cash contribution of €30,000 and an investment of €250,000 in government bonds to be held for a minimum of five years. This program leads to residency in as little as three months from application start, but it does not lead to the Maltese (EU) citizenship and passport.
The Maltese Global Residence Program (GRP)
The Maltese Global Residence Program offers applicants to become a permanent resident of Malta, free travel to all European countries within the Schengen area, and the option to apply for a work permit. However, this permit needs to be renewed annually to avoid expiration. The GRP does not lead to EU citizenship, and it does not result in receiving a European passport. The annual expense (recurring minimum tax) under the global residence program is approximately €15,000 excluding legal fees, and the applicant is required to either purchase local real estate valued at no less than €220,000 or rent local real estate at an annual lease of no less than €8,750. Processing can be as fast as three months.