PERMANENT RESIDENCE OF MALTA
Advantages of residence of Malta:
- investing is possible only after the approval of the person applying for participation in the program;
- the ability to attach children in care of at the age of 25, parents not older than 65 years old;
- no requirement for permanent residence;
- there is no need for personal presence to apply for participation in the program;
- the opportunity to live in Europe all year round;
- no need to register the organization and realize its functioning;
- the complete absence of the monthly costs.
How to get a residence of Malta:
To obtain permanent residence in Malta, you must fulfill the following requirements:
- the main applicant for permanent residence in Malta must have a capital of at least $500000;
- of all assets of the main applicant, at least $150000 must be in financial status;
- Applicants must buy or rent a home in Malta under the following conditions:
- The minimum purchase price for real estate is 350,000 Euros or 300,000 Euros for South Malta or Gozo;
- The minimum rent for rented property is 12,000 Euros per year or 10,000 Euros for South Malta or Gozo;
- candidates must make a donation of 2,000 Euros to the Government Organization
- candidates must pay an administrative fee of 40,000 Euro
- candidates have to pay a check of their dossier of 7,500 Euro for each adult family member, excluding the spouse of the initiator.
The cost of obtaining permanent residence in Malta:
Cost of accompanying the process: 30,000 Euro.
The process permanent residence of Malta:
THE DEADLINE FOR OBTAINING OF RESIDENCE OF MALTA
- Collection of documentation -14 days
- The obtaining of permanent residence - 6 months.
Documentation requirements to apply for a residence of Malta:
- external passport (photocopy all pages);
- passport (photocopy all pages);
- certificate form 2-Person income tax (about income);
- evidence of higher education;
- extract of the credit institution for 90 days before the application;
- document of the credit institution confirming availability of funds required for investments;
- birth certificate of the applicant and children;
- the certificate of marriage;
- document confirming the absence of infection;
- proof of the address data;
- color photo of size 3.5 x 4.5 in number of 3 pieces;
- the document confirming absence of previous convictions;
- a document confirming the insurance.
The pros and cons of getting permanent residence in Malta:
- visa-free entry to countries of the Schengen agreement;
- the opportunity of optimization of taxation (permanent residence status provides the usage of residents of the benefits of the tax system of Malta – maintenance, planning, benefits);
- no requirements to residence in the territory of Malta (as before the registration status and after);
- an opportunity of business development;
- return of investment after 5 years;
- obtaining a status on the regarding program covers not only to applicant but also to members of his family (children, parents).
The process of obtaining permanent residency of Malta:
What is the process of the registration status of permanent residence in Malta?
- preparation and filing of documents;
- security screening – Due Diligence (time of inspection, as a rule, no more than two months) and the payment of the part of administrative fee;
- regarding a positive decision – the implementation of the program (at this stage remaining payments of the administrative fee performs and redemption of bonds, and also acquisition or lease of real estate is carried out the);
- delivery of biometric data (for delivery of biometrics, you should visit Malta);
- obtaining permanent residence cards (card validity - five years, after that it replaces of a technical nature );
- return of investment (the investor has the right to sell bonds and to sell the property or dissolve the rental contract after 5 years).
Legal framework for permanent residence in Malta:
Most Frequently Asked Questions and Answers:
Today, the rules of taxation for Maltese residents are clearly and clearly spelled out in the relevant section of the country's legislation. In the event that a person who has made investments in the economy of a power stays on its territory for more than 183 days in a calendar year, then he receives the status of a domicile tax resident. All income received by people of this class, both on the territory of Malta itself and on the lands of any other countries, is subject to income tax in accordance with generally accepted standards.
Citizens who receive permanent residence in Malta for investment, and who live in the country for less than 183 days in a calendar year, have the opportunity to be exempted from paying income tax for all types of realized income. Such people pay state fees exclusively on money transfers carried out within the framework of the accounts of banking structures originally registered in the territory of Malta itself.
According to current legislation, investors who receive permanent residence in Malta through the lease or purchase of real estate can terminate the relevant contracts without any outside problems. However, in order to continue participating in the immigration program, future citizens of the country will need to conclude a new deal.
At the same time, the cost of acquiring or renting real estate must again meet the conditions set forth in the framework of the relevant section of the migration legislation. The investor notifies the accredited agency representing his interests in the country about the change of the rented property.
The main confirmation of the fulfillment of the terms of the investment immigration agreement is a document that is a copy of the agreement on the purchase or lease of real estate. In the event that the investor leases any property, he will need to provide additional paper - a receipt for making the appropriate payments.