Following the success of the Malta Individual Investor Programme the Government of Malta, by virtue of Legal Notice 288 of 2015, introduced the Malta Residence and Visa Programme Regulations, which shall allow Identity Malta Agency (the Agency responsible for the programme) to issue a certificate that shall entitle the beneficiary and his registered dependants to reside, settle or stay indefinitely in Malta.
The applicant must satisfy a three-tier investment:
- Contribution: A payment of €30,000 in the manner prescribed by Identity Malta;
- Qualifying Investment: An investment in a form determined by Identity Malta having an initial value of €250,000. This investment ought to be held for a minimum period of 5 years from the date of the certificate;
- Qualifying Owned or Rented Property:
- Qualifying Owned Property: Immovable property for a consideration of not less than €320,000 for property situated in Malta or €270,000 for a property situated in Gozo or in the South of Malta; OR
- Qualifying Rented Property: Immovable property on lease for a rent of not less than €12,000 per annum in the case of property situated in Malta or €10,000 per annum in the case of property situated in Gozo or in the South of Malta. In either case, the property must be held for a minimum period of 5 years from the date of the certificate.
Any individual interested in applying for this programme is required to do so through a registered approved agent and/or a registered accredited person.
WDM Lex Advisory, through Dr. Jonathan De Giovanni, Partner at the Firm, is a registered accredited person with Identity Malta.
The application fee, due to the Authority, is set at €5,500, which is non-refundable and constitutes a part payment of the contribution.
The qualifications and general requirements for a person to be issued a certificate under these regulations shall be that such person:
- Is at least 18 years of age;
- Is a third-country national (i.e. non-EU/EEA/Swiss);
- Is not a long-term resident;
- Is not a person who benefits under other programmes;
- Is in possession of sickness insurance in respect of all risks across the whole of the European Union normally covered for Maltese nationals for himself and his dependants;
- Has an annual income of not less than €100,000 arising outside of Malta or in possession of capital of not less than €500,000;
- Commits himself to provide proof of title of a qualifying property in Malta in accordance with these regulations;
- Commits himself to invest in a qualifying investment;
- Commits himself to pay in full the contribution in terms of these regulations.
The certificate issued under these regulations shall be monitored annually for the first five years and every five years thereafter.
Dr. Jonathan De Giovanni, Partner at WDM International and Mr. Julian Vella a Junior Associate within the firm’s private clients practice, shall be attending the press conference organised by the Parliamentary Secretary of Competitiveness and Economic Growth which is set to formally launch the programme.