An Overview Of The Malta Golden Visa – The Path To EU Residency
Mr. Willy Wonka offered chocolate enthusiasts a golden ticket into his factory. Similarly, Malta is offering European enthusiasts a new way of accessing the EU through their world-renowned golden visa program.
A golden visa means ease of access for you into the entire European Union. Malta is situated 58 miles away from Sicily (Italy) and comprises of two other main islands: Gozo and Comino. The island is keen on bringing in foreign wealth and investing in Malta could mean a golden visa for you and your family. Sounds good, doesn’t it? Read on to find out more.
What is a golden visa?
A golden visa is your ticket to permanent residency in Malta. This includes a Schengen residence permit which allows you to travel to up to 26 European states.
How will you obtain this golden visa?
The golden visa is offered to qualifying individuals who make a relevant investment including Government bonds or forms of stock treasury securities for a minimum of five years.
An investment of this sort means that your family members gain entry into Malta as well and will gain permanent residency. The best part about this program is that after five years of investments, the investment amount is refunded.
Let’s take a deeper look into the investments and costs:
Investing in government securities
The first type of investment that can gain you access to a golden visa is government securities. Government securities in the form of stocks and bonds are sold for about 250K Euros which gets fully refunded to you after the five-year period has elapsed.
A full refund minus minor administration and agent costs works out highly beneficial for you. After budgeting for the initial investment amount, include a 30 000 Euro administrations and agent fee.
Thereafter you can pay an additional 5000 Euros should you wish to call your grandparents or parents-in-law to Malta too. Properties within Malta can be rented at an additional cost of about 10 000 Euros.
Although purchasing property in Malta may set your budget back, it could be a more valuable investment in the long run. Living in Malta also means that you get access to health insurance and coverage as per the stipulated rules of the country.
Investing through financing government bonds
Technically speaking, a much more economically feasible option is financing government bonds. Making this type of investment means that you’ll still get issued with a certificate of residence but this option is far more viable for investors who don’t wish to settle in Malta.
The fee for this type of investment ranges from about 125 000 Euros peaking slightly higher now as its popularity has increased. For this option, it’s best to rope in legal authority from Malta. To secure this investment, you need to prove that you earn a yearly income of approximately 100 00 Euros.
Remember when Charlie took his grandfather with him to the chocolate factory? You too can pay an additional fee for your grandparents’ rights to call Malta home. Many other visa programs will not allow grandparents’ residency.
The Malta Golden visa offer surely does sound as tantalizing as a bar of dark, rich chocolaty goodness; but there are some mandatory rules to observe.
For one, you must be free of any criminal records before you call Malta home. Furthermore, you must be able to prove that you earn a clean income. Your earnings per year or total assets must amount to that which has been stipulated in the clauses when an initial investment was made.
You must also visit Malta once your letter of approval has been issued, as staying in the country secures your citizenship.
The good news is that this opportunity is available to people from all countries except for citizens of Afghanistan, Iran, and Korea.
Period of waiting
Once you’ve made the investment, it will take about half a year to a year to gain the visa. Apply now and gain all the necessary details so you know exactly how long to wait before acquiring citizenship.
It’s important to note that English is spoken in Malta so you certainly won’t feel like a foreigner to the Island. Grab your golden visa to explore all Malta has to offer.