A Review of Malta Golden Visa

Introduced in 2015, the Malta Golden Visa program enables citizens of other countries to obtain a residency permit and settle in Malta. One of the most popular residence by investment schemes available, the Malta Golden Visa ensures that non-EU nationals can gain residency status in a country within the Schengen Area.

Who Is Eligible for a Malta Golden Visa?

In order to become a resident of Malta under the scheme, you’ll need to meet specific criteria. Currently, the Malta Golden Visa Programme requires successful applicants to purchase or rent a property in the country, invest a minimum of €250,000 in government bonds for at least five years, and make a contribution of at least €30,000. Applicants will also be subject to a background check before they are accepted into the Malta Golden Visa program.

Officially known as the Malta Residence and Visa Program Regulations (MRVP), the scheme is designed to attract investors to the country. With the aim of creating wealth and job opportunities, it’s believed that the foreign direct investment gained by the scheme will enhance the national standard of living within the country.

What Are the Benefits of Becoming an EU Resident?

The European Union enforces different travel regulations for EU and non-EU residents. When you become a resident of a qualifying country, you benefit from the free movement principles which apply to long-term EU residents. If you become a resident of Malta under the Golden Visa program, for example, you will not need to obtain a visa to visit other Schengen countries for up to 90 days.

With 26 countries currently within the Schengen Area, this gives EU residents an advantage when it comes to doing business in Europe. For non-EU residents, obtaining a Schengen visa before traveling to European countries can severely limit the business relationships that you’re able to cultivate.

For non-EU business owners who want to trade with companies within the Schengen Area, it’s clearly advantageous to be able to travel to the area freely. However, it isn’t just business owners and entrepreneurs who can benefit from being a resident of an EU country.

If you work in a global industry, being a resident of Malta could be extremely beneficial for your career. Employers are typically keen to hire personnel who are eligible to travel to EU countries without the need for visas. By obtaining residency through the Malta Golden Visa program, you can create a wealth of personal opportunities and enhance your career prospects too.

Why Choose the Malta Golden Visa Program?

When you obtain residency, you’ll have the opportunity to live in any part of Malta, depending on the level of investment you choose to make. Filled with cultural sites, quaint villages, bustling cities and endless views of the shimmering turquoise sea, it’s easy to see why the Malta Golden Visa is so popular!

In practical terms, many people believe the Malta Golden Visa scheme offers benefits that other similar programs don’t. Many other EU countries offer residency by investment schemes, but the majority require far larger investments than Malta. This makes the program more accessible and enables applicants to obtain EU residency at a lower cost.

Furthermore, some alternative residency by investment programs require successful applicants to make an investment in the country’s real estate sector. Historically, this has not always been fortuitous, and returns cannot be guaranteed.

In contrast, the Malta Golden Visa program requires an investment in government bonds, which are seen as a lower risk option. Although applicants can buy property under the Malta Golden Visa scheme, they also have the option to rent a home instead. This increased flexibility and lower risk investment requirements mean that the Malta Golden Visa program is fast becoming one of the most popular residency-by-investment schemes.

Making a Residency Application

Applying for residency under any Golden Visa program can be tricky. With a variety of documentation to supply, it’s vital your application is submitted in its entirety and without errors. As you are required to pay a non-refundable deposit of €5,500 upon making an application, you’ll want to ensure that you’re successful.

Once your residency application has been accepted, this €5,500 deposit is deducted from the €30,000 contribution you’re required to make to the Government. By getting your application right first time, you’ll increase the chances of being accepted into the Malta Golden Visa program, minimize the costs associated with becoming an EU resident and avoid unnecessary delays.

Due to this, many people find it beneficial to access professional assistance before and during the application process. With expert advice, you can ensure that your application is completed to the highest standard and look forward to starting your new life in the Maltese sun.