The Malta Residency Residence permit program is expected to bring up to 25 million euros in 2024, thus tripling the previously received income. This is reported by ShengenVisa News.
Residency Malta includes three directions:
Residence permit of a digital nomad, which allows non-EU foreigners to live in the country, working remotely for companies located outside Malta.
Residence permit for startup founders is intended for non-EU foreign citizens who want to move their startups to the island. This gives them the opportunity to get a visa for three years with the possibility of extension for another five years.
«Golden visa» gives wealthy foreigners from outside the EU the right to obtain a residence permit if they meet certain conditions and invest in the Maltese economy.
The country also has a "Golden Passport" program. According to it, applicants must invest at least 750,000 euros in the national development Fund. According to forecasts, this year the scheme will bring about 21 million euros to the treasury, as in the past. Despite the significant economic contribution, the Malta Investment citizenship scheme is of concern to the European community due to its possible involvement in illegal activities. In addition, the fund, which manages the income received in Malta under this program, has not yet published its financial statements for 2021.