Malta Golden Visa: Eligibility & Application Process Explained

A Malta Golden Visa is the key for wealthy investors who want to invest in foreign countries. This citizenship by investment program is one of the most important economic citizenship programs in the world. While getting second citizenship can be hazardous for certain citizens like the ones from China, an alternative residence in Malta can be a great option. If you want to know more about Malta Golden Visa, keep reading.

The Malta Golden Visa is a program where non-EU citizens can obtain a Malta residence permit to live and travel freely in Malta. This visa program was launched in the year 2015, and it allows foreigners to get a valid European residence permit in a legal way. Once someone receives his or her Golden Visa, he/she can travel freely to all EU Schengen Area countries, including Switzerland and no longer needs to apply Schengen Visa from India.

The eligibility criteria for Malta Golden Visa for Indian citizens are written below.

• The applicant must be 18 years old and be in good and fit health.
• The applicant's annual income must be € 100K, that is, ₹ 87 Lakh or capital € 500K, ₹ 4.3 Crore.
• The applicant has to buy a property worth € 320K, ₹ 2.7 Crore, or rent worth € 12,000, ₹ 10 Lakh per annum.
• The applicant has to give € 30k, that is ₹ 26 Lakh, to the Government as admin fees.
• For 5 years, the applicant has to invest at least € 250k, that is ₹ 2.1 Crore, in Government bonds.
• For each additional adult dependent except for the spouse, the applicant has to pay € 7.5k to the Government.
• The applicant also has to donate € 2,000 to a local NGO that is registered with the Commissioner of Voluntary Organisations.
• Besides these, the applicant and his or her family members must have a clear criminal background.
• The applicant must also agree to support his or her family members who are included in his or her application.

For the Maltese Golden Visa programme, any amount ranging from € 700,000 – € 1,460,000 is considered a qualifying investment.

Here are more details about it.

Investment 1: Contribution

When one applies for Maltese citizenship by investment, he/she is supposed to contribute to the National Development of Social Fund organised by the Government. A board of trustees runs it, and these funds are utilised to fund finance projects such as education, public health, job creation, social empowerment, and more.

Thus, if one proves residency of 36 months in the country, one has to contribute € 600,000 and € 750,000 if one proves 12 months of residence. One has to make an additional contribution of € 50,000 for every additional dependent. However, applicants must remember that these contributions are non-refundable.

Investment 2: Real Estate

One has to purchase a real estate property whose minimum value must be € 350,000 or has to lease a property whose yearly rent must be € 12,000 compulsorily. However, if the property is located in the South of Malta or Gozo, the property rent and purchase amount will decrease. The purchase amount becomes € 300,000, and the rent amount decreases to € 10,000. Additionally, one has to retain the rented or purchased property for a minimum of 5 years from the date of the certificate of citizenship.

Investment 3: Fund

Other than real estate and contribution, one must donate at least € 10,000 to a registered non-governmental organisation. Moreover, it must be a charitable organisation.

The documents required to apply for a Malta Golden Visa 2022 are-

• The applicant must submit his or her own and his or her family members' passports.
• The applicant and his or her family members over the age of 12 have to submit their photographs and fingerprints for the Biometric information.
• A cover letter signed by the applicant.
• A document that states that the applicant complies with the process of due diligence.
• The proof of funds and documents depicting the source of funds as well
• Bank statements of the applicant from his or her home country's bank.
• Personal life certificates such as marriage or civil partnership certificate (for spouse/partner), Birth certificate (children, grandparents, parents), custody or court documents (if any), and divorce certificate (if applicable).
• If any adult children or parents/grandparents of the applicant are applying, they need to prove their dependency by submitting documents that prove it.
• Everyone in the family of the applicant must submit a health report. This is to ensure that no one in the applicant’s family has a contagious disease which can be dangerous for public health in Malta.
• Any other supporting documents as required or as applicable.

In addition to the main investment, when one applies for a Malta Golden Visa, they are expected to pay tens of thousands of euros as additional fees. This includes an administrative fee of € 40,000 for the due diligence fees and the visa application fees. Altogether, one can expect to pay over € 50,000 as the total cost of Malta Golden Visa, which includes the acquisition of documents, services charges and legal fees.

The Malta Golden Visa program is important to become a permanent citizen of Malta or any other place in the EU. Additionally, it allows high-income individuals to obtain a Maltese passport within one to three years. However, people also choose to opt for these programs for other exclusive benefits attached to them like the ones mentioned below.

The Malta Golden Visa comes with a number of benefits. Here are a few-

• Individuals who obtain this visa can get access to all Schengen countries without a Visa for 90 days out of 180 days’ time.
• Investors and their family members for up to 4 generations can work, study and live in Malta for as many years as they wish.
• Investors will also receive a certificate as well as a residency card which will be valid for a lifetime.
• One can obtain educational, social and health benefits from Malta.
• Abundant business opportunities as one can register a business in the country at favourable tax rates.

The Malta Golden Visa allows investors to receive Malta residence cards and Malta residence certificates depending on eligibility criteria and investments done. The Malta residence card remains valid for 5 years with unlimited extensions.

However, the residence certificate does not have any expiry date. The e-Residence Card, on the other hand, will be valid for a period of 5 years, initially, and it will be subject to annual monitoring and check whether existing conditions continue to be met.

Additionally, one must also remember that a residence card processing fee is applicable when a card is renewed or issued. The fee is € 27.50 for one year for one person. Hence, the card carries a fee of € 137.50 for five years.