Malta is a European paradise with its mild winter Italian feel and relaxed life, it is a great place to live regardless.
However, the residency program has become increasingly popular over the last few years, this is due to its admission to EU citizenship and the low taxes & stability. Malta has seen an increase of High Net Worth Individuals (HNWI) and Ultra High Net Worth Individuals (UHNWI) from both the Middle East, Russia, and China who look for citizenship in the country.
Why?
It has recently opened its doors to try and boost the economy via investment and now offer Employment Residency, Retirement, Investment by residency.
Want to know how to get on a Malta residence program, carry on reading!
How?
For the investment program, the Maltese government accepts a payment a one-off payment of 650 Euros to the Maltese government and an extra 25,000 Euros for a child under 25 and 50,000 for a spouse or child over the age of 25.
Then you must invest 150,000 Euros into Maltese bonds property or Stocks for at least 5 years. Finally, you must buy a house for the Value of 350,000 Euros or rent for 16,000 Euros a year and hold on to that for a duration of 5 years.
Secondly, the option is the Global residency option that is a cheaper option and needs you to pass some questions about the reasons why you want a residency. You will then have to purchase a property on the Island for 220,000-275,000 euros depending on where and which island that you are looking to obtain.
Also, you can rent a property for the amount and over 8750 per month. As well as this it does require you to live on the Island as well for a vast majority of the year, 183 days.
Finally, there is 4000 Euro a month fee to pay straight off for the administration and 2000 Euros on acceptance.
The Benefits Of This Program
It is not taxed on Inheritance tax (Big for both U.S and U.K holders) and any foreign source of income.
The drawbacks are that you do have to pay at least 15,000 Euros tax each year with the first year going to inland and revenue.
Conclusion
This is a great program, although one of the more expensive even with the Global program it is still a lot more expensive than the ones in the Caribbean that can be obtained for 100,000.
I would agree that if you are looking for a European base and offers free E.U travel and has a strong stable infrastructure with a good legal system, this is a good one for you to consider. This kind of program has brought down the cost of European citizenship in a secure area and for that reason, if you can afford it and look for a European home it should not be missed.
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If you are looking at the residency and want to ask some questions then I can help, I hold an Elite Visa for Thailand and may be able to point you in the right direction of some good residency programs! Please email me at info@investmentsforexpats.com
