A residence permit in Malta provides visa-free travel across the territory of 26 Schengen countries, and citizenship of Malta increases the number of such countries to 163 countries of the world. A residence permit becomes a pass to any of the Schengen countries. Also, a residence permit in Malta gives the holder all the benefits of Maltese taxation. Here only tax is paid on income earned in Malta, or on capital imported into the country. Citizenship in Malta simplifies the procedure for obtaining a work permit in any EU member state.
Visa
A multiple-entry Schengen visa for a period of stay in the country (90 days within six months) is granted to owners of real estate and businesses in Malta. There is also a student visa for those who study in private educational institutions and
universities in Malta or take English language courses in institutions that have the appropriate accreditation. A student visa grants the right to move around the Schengen area for a paid period of study. Also, one guardian of a student or schoolchild has this right.
Work permit
A work permit is only issued if the applicant convinces the Labor Department that no Maltese citizen can apply for the position. In the event that a foreigner plans to establish a business in the country, he is required to provide a letter of recommendation from a business partner in Malta. The application is reviewed by the Employment Department at the request of the employer. Among the necessary documents - a passport, a certificate of no criminal record, a letter from a potential employer about the position and details of employment. The work permit is valid for one year with the possibility of further renewal. When investing in a business, the right to move freely within the Schengen area is given, provided that several jobs are created in the country.
Residence
Residence permit in Malta is issued under the Global Residence Program. According to the new scheme, foreigners can get a residence permit when
buying real estate worth from 275,000 euros, and in the southern part of Malta and Gozo - from 220,000 euros, and who regularly pay taxes in the country. Also, foreigners have the opportunity to obtain a residence permit in the country when renting a house with a minimum cost of 9600 euros per year and in the south of the country and Gozo - from 8750 euros per year. A residence permit can be obtained not only by the applicant, but also by his entire family, including spouses, children and parents. An important condition is the availability of international health insurance with coverage of at least 50,000 euros. An administration fee of ˆ 6,000 for Malta and ˆ 5,500 for Gozo must be paid upon application. To obtain a residence permit from the applicant, you need to: - fill out the application form; -provide copies of all pages of the passport in English; -copy and original of the health insurance certificate; -bank statement confirming the financial condition of the applicant; - an agreement on the purchase and sale or lease of real estate; The registration of a residence permit in Malta takes several months. The applicant does not need to be on the island while the application is being considered. Attendance is required only to sign a resident declaration and receive a Schengen residence card (resident card). In the event that the application was submitted for the whole family, only the main applicant needs to sign the documents. Under the Global Resident Program, the minimum tax on income earned by foreign residents in Malta has been reduced from ˆ 25,000 to ˆ 15,000. Foreigners who have received a residence permit under this program will not be provided with free state medical care.
Obtaining citizenship
Foreigners can obtain citizenship of Malta under the Individual investor's program, which has been in effect since January 2014. According to Identity Malta, (a department of the Ministry of the Interior and Security of Malta), more than 200 applications for Malta investment citizenship were processed within 5 months from the start of the program. 16 of them are already undergoing due diligence. Potential candidates for obtaining citizenship of Malta are residents of about 30 countries, including immigrants from the CIS countries, as well as from Ukraine and Georgia. The Government of Malta will consider a total of 1,800 applications for investment citizenship by foreigners. The total investment in the economy of Malta could reach more than ˆ 200 million in 2015. A Maltese passport will cost an investor about ˆ 1,150,000. Of these, 650,000 euros need to be donated to the local Fund for National Development (FND), in the amount of 350,000 euros you need to purchase real estate, and another 150,000 euros - government bonds and shares. Other expenses - due diligence, administrative and legal costs, international insurance. As an alternative to buying real estate, the Maltese authorities allow you to rent a home for six years. In this case, the rental amount must be at least 16,000 euros per year. The procedure for obtaining citizenship is divided into two stages: The first stage is obtaining registration (Schengen residence card) for a period of one year. To do this, you must rent a property in Malta worth at least 16,000 euros per year and undergo a criminal and security check. A prerequisite for applicants is the availability of international health insurance worth at least 50,000 euros. During this year, the EU passport applicant studies the country and the local real estate market and makes the necessary contributions and investments. The second stage is obtaining citizenship and a passport of Malta. To obtain registration, you must rent a property in Malta and pass a due diligence check. The rental price must be at least 16,000 euros per year. After a year, you can apply for citizenship. During the year, the applicant makes all the necessary contributions to the FNR. These include: 1. Contribution for the main applicant - 650,000 euros; for the spouse and minor children - 25,000 euros each; for children from 18 to 25 years old and parents (over 55 years old) - 50,000 euros each; 2. Due diligence check: 7.5 thousand euros (main applicant); 5 thousand euros (family members); 3 thousand euros (minor children); 3. Purchase or lease of real estate: Purchase - at least 350 thousand euros; Rent - at least 16 thousand euros (for at least 5 years). After that, you can apply for citizenship. Typically, the review period takes several months. Thus, for a family of three with a minor child, obtaining Maltese passports will cost about ˆ 1,300,000. Daniil Burygin HomesOverseas.ru
The editorial staff of the portal thanks Irina Simonyan ( Henley & Partners ) and Svetlana Poddubnaya (Sunlight Malta) for their help in preparing the material ...
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