5 Benefits of Malta Permanent Residence
Malta is a beautiful place where you can feel free, surrounded by local fortresses and temples. The state is located in the Maltese archipelago, right in the central part of the Mediterranean Sea. It is a country that makes you want to move closer to the warm climate, massive cliffs, and stunning attractions. Malta has many features to offer, not only in terms of accommodation but also in investment. One of the most renowned is the Malta Permanent Residence Program, which allows you to legally enjoy the warmth of Malta’s daily life by the sea. But what are the advantages of a Maltese permanent residency program? It is essential to understand what pros await you when you decide to conduct lawful activities on the island of Malta to start a new phase in your life. Successful candidates stand a chance:
- Within six months, a minimum of five months, to become a full-fledged resident of Malta. You get a residency with year-round warm sea air.
- To stay legally in the country without any restrictions on the period of stay. Subject to the condition that the applicant wishes to do so.
- After 60 months, you can get the long-awaited Maltese document. It is considered the most significant Malta pr benefit.
- Take a tour of more than 20 independent countries. Since Malta is in the Schengen area, you can visit countries that seem out of reach, such as Norway and Iceland.
- Learn about Maltese culture, cuisine, and nature, and visit temples on the UNESCO World Heritage List.
To study in detail all the conditions and the necessary information follow the link.
More about the Maltese program
The Malta relocation program (MPRP) was launched in 2021 and is one of the most profitable projects. Wealthy individuals can enjoy the benefits of Malta’s permanent residence through investments in the island state. The project is designed for people who, through their financial capacity, can obtain a passport of the country after living in Malta for at least five years.
One of the biggest pros, you have a chance to include your loved ones, namely:
- husband/wife or boyfriend/girlfriend;
- children without any age requirements;
- the applicant’s grandmother/grandfather.
All participants in the program can enjoy the advantages of living in Malta without any requirements. The leading specialist of Immigrant Invest, Evgeniya Morozova, can advise you on this in more detail. She specializes in the application and documentation of all participants.
Investment options in Malta
When applying for the right of residence, the primary condition is to pay the mandatory fee to the state. Therefore, if you decide to invest in Maltese real estate rather than choose to rent it, the contribution to the country’s economy will be much less than you think.
You can buy a house to enjoy Malta’s permanent residence benefits. However, a legal stay on the island in the framework of investment immigration requires a fixed government fee of about 70,000 euros. Therefore, if you consider purchasing residential property, the amount will be at least 300,000 euros.
There is also the option of renting a house, but it is considered one of the most expensive. With this method of obtaining residency, the non-refundable state tax will be 98,000 euros. The rent on the island will cost you 10,000-15,000 euros per month.
The main factor in participating in the program is the need to contribute 2,000 euros to charity. All payments are made only after your application is approved.
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