Malta tightens the rules when applying for a residence permit

Now, citizens of non-EU countries will have to provide not only a lease agreement registered with the Housing Authority, but also a notarized copy of it.

These measures were introduced following a recent scandal involving suspected fraud in the issuance of approximately 18,000 identity cards in Malta. The authorities decided to strengthen checks in order to prevent similar violations in the future.

What documents are needed to apply for a residence permit

List:

• passport + copy;
• insurance;
• three photos;
• copies of marriage and child birth certificates;
• a bank statement that reflects financial viability;
• registered lease agreement with the Housing Authority;
• a notarized lease agreement;
• a document of non-conviction;
• a copy of the statement of readiness to transfer taxes to Malta.

Why are the relocators moving to Malta

This country, located in the central part of the Mediterranean Sea between Sicily and North Africa, attracts foreigners with a warm climate with mild winters and hot summer days. The average temperature in winter does not exceed +16°C, in summer: from +26°C to +31°C. The heat is perceived more easily due to the sea breeze. 300 clear days a year make Malta one of the sunniest places in Europe, which has a positive effect on mood and overall quality of life.

There are several reasons for the country's popularity among expats:

1. Malta is an English-speaking country, which simplifies the adaptation process.
2. The developing IT sector: the location is becoming a technology hub for companies in the fields of fintech, blockchain and online gaming.
3. One of the best healthcare systems in the world. According to the index of the effectiveness of medical care, the Bloomberg Health-Efficiency Index, is in the top 30 countries.
4. Cost of living: Compared to other European countries, Malta offers relatively reasonable prices. We have given examples below.

In the capital, Valletta, renting a studio apartment will cost an average of 800 €-1,200 € per month. Food prices: the cost of the basic basket of products is also lower than in Western European countries. For example, a liter of milk costs about 1,15 €, and bread costs 1,40 €.

Malta Global Residence Program

GRP is designed to attract foreigners who want to move to Malta.

Here are the main reasons why this program is in demand:

• simplified movement in the Schengen area;
• allows program participants to bring family members with them;
• those who have lived in the country for at least 5 years can apply for long-term residency;
• tax benefits.

What are the advantages

Tax on income transferred to Malta: the rate is fixed at 15%. Participants need to be paid from 15,000 € per year. Profits earned outside the country, which are not in Maltese accounts, are not taxed. Agreements on the avoidance of double taxation with more than 70 countries.

What is necessary to participate in the program

GRP provides a relatively simple way to obtain a residence permit in Malta for residents of third countries (non-citizens of the European Union, EEA and Switzerland). The requirements are relatively low:

• Minimum cost of housing: The participant must purchase a property for at least 275,000 € either in the south of Malta, or in Gozo or 320,000 € in other parts of Malta. It is also allowed to eat in the amount of 9,600 € per year in Malta or 8,750 € in Gozo.
• Stable income: it can be from investments, businesses, or other sources outside the country.
• Health insurance: It is necessary to have a policy covering all possible health-related expenses in Malta.

What should be the income?

Stable earnings are considered to be at least 100,000 € per year, or there must be significant assets exceeding 500,000 €. These requirements demonstrate the applicant's ability to support himself and his family without having to work in Malta.