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New Malta Residence Scheme for Third Country Nationals

The Maltese Government released a new legal notice last Friday related to third country nationals becoming a resident in Malta through a new Scheme, which is meant to incentivise the targeted nationals to invest in Malta.  Those that already benefit from the Global Residence Programme and are living in Malta are permitted to apply for the issuance of the certificate, under the understanding that they meet all the extra eligibility requests of these terms.

The new scheme is named “The Malta Residence & Visa Programme Regulations” and is available from immediate affect.  The terms of the new regulations are similar to other schemes however thresholds and some criteria are different.

Thresholds

An applicant must either buy a property or rent a property for a minimum of five years.  If the applicant is looking to purchase a home the property price must be at least €320, 000 (three hundred and twenty thousand euros) in most parts of Malta whereas if in the South of the Island of Malta or Gozo the minimum property price stands at only €270,000.   Should the applicant choose to rent an apartment or house  the annual rental property price should be at least €12, 000 (twelve thousand euros) in Malta or €10, 000 in the South of Malta or Gozo.

Read the full story here: http://blog.remax-malta.com/new-malta-residence-visa-programme-regulations-released/