Reasons to Get Residence Permit in Malta
Probably, everyone who has ever been to Malta has fallen in love with this country. Apart from romantic feelings that it causes, it also gives a range of significant benefits, such as high-quality healthcare services, decent educational programs, and more.
Probably, everyone who has ever been to Malta has fallen in love with this country. Apart from romantic feelings that it causes, it also gives a range of significant benefits, such as high-quality healthcare services, decent educational programs, and more. Applying for permanent residence in Malta is possible here, where you will also find detailed step-by-step instructions. In this article, you will find some helpful info on how to get a permanent residence in Malta.
Reasons to Get Residence Permit in Malta
There are plenty of benefits you can enjoy by becoming a resident of Malta, including the following:
- Visiting, living, and working in a beautiful island country;
- Entering Schengen countries without a visa;
- Taking members of your family with you;
- Great healthcare systems;
- Decent educational programs.
How to Get Residence Permit in Malta
Anyone who needs to stay in the country legally for over three months has to apply for a residence permit in Malta. After living in the country for more than five years and fulfilling minimum stay requirements, you have the right to apply for permanent residence in Malta. You can stay in the country for different purposes, such as work, study, running a business, and more.
The main condition is proving that you are capable of covering your financial expenses. As for work, you can come if you have been hired by a local company. There is also a short way to become a resident of this beautiful country, which is through a special investment program.
Obtaining Residence Permit in Malta by Making an Investment
It takes only from five to six months to get a Malta residence card by applying for a special investment program! It is really quick since, usually, you have to spend at least three years in an EU country to obtain it. Also, Malta residence cards are given to the applicant’s family members if they are included in the application.
You do not have to know the history of the country or speak a local language, and it is not obligatory to live there permanently. There are different ways to choose from when it comes to investing in the country, including the following:
- Investment in Maltese government bonds;
- Renting or buying a property.
Let’s go through each of these options.
You can become a resident of the country if investing in the bonds for at least a five-year period. You can then sell your bonds. There is an administrative fee you will have to pay, which is €30,000. It is non-refundable. It is worth noting that purchasing the bonds is quite a profitable thing as they will give you a 3% return per year.
You can also rent or buy a property. As for renting, you should be ready to pay about €12,000 per year, which depends on the part of the country you rent a property in. You can opt for renting if you wish to establish a business, for example, or you have enough money to spend on just enjoying living in this amazing country.
When it comes to purchasing property, it will cost you around €270,000 and you can sell it in five years. Of course, it is worth considering buying property as it will ensure a stable income because Malta is known as one of the most popular touristic places.
Conclusion
Generally, if you are looking for a quick and simple way to get a permanent residency in a different country, you should consider Malta. Whether your goal is to start living in the country right away, freely travel across plenty of countries, generate additional income while enjoying favorable tax conditions, Malta would be a good choice for you. There are different options you can choose from, and the requirements for each of them are reasonable. Also, the application procedure is very quick, and if you match the initial requirements, you will be able to get residency in several months.
