Obtaining a Maltese visa allows you to travel throughout the Schengen area.
In 2014, Malta launched the Malta Individual Investor Program. Its main conditions are an investment of about € 1 million in the local economy and passing a strict due diligence check. In return, in a year you will receive a Maltese passport – which means free entry to most countries of the world, including the USA, and the opportunity to permanently live in European countries.
The following year, 2015, the Malta Residence and Visa Program are launched. The amount of investments is much lower, but there are also fewer opportunities: visa-free entry to Schengen with the right to stay up to 90 days in half a year. Yet you will get the essential documents in several months, and you can live in Malta without confinements.
The Malta Residence and Visa Program (MRVP) is a fast and efficient way to legally obtain a valid European permanent residence permit for foreign investors.
Under the “Residence by Investment” program, foreign citizens can quickly obtain a permanent residence permit in Malta. It will allow the investor and his family to enter Malta, as well as freely visit all Schengen countries, including Switzerland.
Holders of a Maltese residence permit do not have to apply for a Schengen visa to visit Germany, France, Spain, Italy, Portugal, or Greece.
Who is eligible to receive investment immigration
The MRVP program is operated by a legitimate government agency, the Maltese Identity Authority, whose requirements are based on current legislation. To obtain a residence permit in Europe under this program, the applicant must fulfill three investment conditions.
- Financial contribution
To obtain a Maltese residence permit, the investor has to make a monetary contribution of 30,000 euros to the state budget. A non-refundable administrative deposit of € 5,500 is payable upon submission of the application, and the remaining amount can be paid after the application has been approved in principle.
- Buying or renting real estate
Only investors who have purchased or rented eligible properties in the country have the right to participate in the Malta Residence Permit Program. To fulfill the requirement for the purchase of real estate, the investor must purchase a property in Malta with a value of 320,000 euros. If this property is located on the island of Gozo or in the south of Malta, its cost must be at least 270,000 euros. To comply with the requirement for renting real estate, the investor is required to rent a property in Malta with a minimum annual rental value of 12,000 euros. If this property is located on the island of Gozo or in the south of Malta, the rental price must be at least 10,000 euros.
- Eligible investment
The purpose of the MRVP program is to attract foreign direct investment, create jobs and material wealth. And, eventually, advance the standard of living of the people. In this regard, those wishing to obtain a Malta investor visa must invest in Malta for at least 250,000 euros. To be eligible to participate in the European Residence Permit program, these investments must be made under the conditions set by the Malta Identity Authority and retained in their portfolio for at least five years.
- Additional terms
To obtain an EU investor visa, applicants must be at least 18 years old. Applicants are also required to submit an affirmation stating that their annual income earned outside Malta exceeds € 100,000 or that their capital is at least € 500,000. All applicants for the Malta residency program must undergo a rigorous due diligence process and must not have a criminal record or be involved in any illegal activity.
Conditions and requirements for obtaining permanent residence
The process usually takes 3 to 9 months. One visit to Malta is required. Investors must meet the following criteria:
- No sanctions, restrictions, or bans on entry to EU countries, USA, UK, and Canada;
- Absence of sentences and illegal actions of crimes;
- The ability to confirm the legality of the source of funds;
- Impeccable personal and business reputation;
- Do not fall under the PEP (Politically Exposed Person) category;
- Not be on the lists of Interpol and the Schengen Information System SIS;
- Good health.
Immigration from other countries to Malta: pros and cons
Those wishing to change their place of residence in Malta should know about some of the uniqueness. All this must be taken into account when choosing a country for migration and permanent living.
Malta has a specific climate and landscape. Also, this country does not have natural sources of fresh water. The average temperature and humidity are significantly higher than in most of Europe and Asia. Many people living in northern latitudes find it hard to endure the heat. It is recommended to live for a while near the sea to understand whether emigration is necessary.
The mentality of the local population differs significantly. The Maltese are impulsive and emotional, but there is no frivolity. They consider a strong, prosperous family to be the main value in life. There are a large number of immigrants from other countries. Recently, the increase in refugees has harmed the crime situation in the country.
Prices for household goods and food are not so high, but utilities can seem expensive as there are no alternative sources of electricity and water supply. Heating is not present in all buildings, since the temperature in winter is rarely below 15 degrees. Some residents use free-standing room heaters.