Obtaining an EU residence is a profitable option for prosperous entrepreneurs. It is the best choice for those who want to protect their businesses and seek opportunities to change their tax residence swiftly to avoid unforeseen circumstances. While many European countries offer several residency programs with tax benefits, Malta noticeably stands apart from others in this regard.
The Maltese government has played an active role in drawing high-net-worth individuals to the island. Presently, Malta offers many official programs, allowing you to receive residence, including MPRP and citizenship by investment. Temporary and permanent residence programs do not take more than three months to complete. However, Maltese citizenship could be a lengthy process, taking up to 14 months to be complete.
Other Maltese residence programs include Individual Investor Program or IIP that is a fast way to get EU citizenship by investing in the Maltese economy for one time. Malta Global Residence Program allows you to obtain temporary residency status by renting or buying fixed property and paying an annual tax of Euro 15,000.
Applying for Malta Residence and Visa Program will get you permanent resident status through investing in immovable property, whether by renting or purchasing. Additional investment in the government stock is also a requirement to be eligible for MRVP.
As mentioned earlier, obtaining Maltese residency does not take more than ninety days. You need to meet all the requirements set for investment and other criteria. These include:
- You are no entrance restrictions or bans for the EU countries like the USA, Great Britain, and Canada.
- You do not have any criminal record or any other investigations going on.
- You have proof of the origin of your income. You must also have a good credit history and a clean reputation in your personal and professional life.
- You must not be a Politically Exposed Person.
- You need to carry medical insurance.
You can include your family members like your spouse in your Maltese residence application. Likewise, you can add your unmarried children below 25 years and parents over 55 years to your Malta residence program application.