New Malta Residence & Visa Programme Improvements to the Malta Golden Visa, now more flexible and convenient
Published on 17 July 2017 by Olga Voirin
The author of the article: Dr Jean Philippe Chetcuti
Chetcuti Cauchi Advocates
The Malta Permanent Residency Programme has become the most favourable Residency Bond Programme. Indeed, the new amendments made by Identity Malta have turned the Malta Residence and Visa Programme into a more convenient, flexible and accessible one. Here is how you can fully benefit from its improvements.
Malta Golden VISA - New amendments
By virtue of Legal Notice 189 of 2017, amendments have been made to the Malta Residence & Visa Programme regulations which was originally launched by Legal Notice 288 of 2015. As a law firm, we welcome these amendments done by Identity Malta, after our proposals aimed at making this programme more attractive for foreign investors. These amendments come into force with immediate effect and new applicants will enjoy the benefits of these new additions to the law.
The main amendments which came into force are the following:
Better conditions to apply for the Malta Golden VISA
The contribution or Application Fee of thirty thousand euro (€ 30,000) now covers the Main Applicant, spouse, and all the children of the Main Applicant and/or the Spouse at application stage.
If the Main Applicant and/or the Spouse include their parents or grandparents in the Application, a fee of five thousand euro (€ 5,000) applies for each parent or grandparent.
No age limits with the new Malta Residency & VISA Programme
Whilst under the previous legislation, one could only include adult dependant children up to the age of twenty six (26), this provision has now been removed, and allows the Main Applicant to include in the application, adult children even if older than 26, provided that at the time of the application the child is not economically active and is principally dependant on the main applicant. This therefore means that children over the age of 27 at the time of application can be included, and that children do not lose the residency rights on their 27th birthday.
Approved children of the Main Applicant will thus retain residency rights under the Malta Residence & Visa Programme, as long as they are not economically active and/or married at application stage.
Even if the adult dependant eventually gets married, the Main applicant has the possibility, to apply against a non-refundable fee of five thousand euro (€ 5,000) per person, to include on the Main Beneficiary certificate the spouse of the adult dependant and his/her children.
No Residency Requirements with the new Malta Golden VISA
Whilst under the previous legislation, the Main applicant and the entire family were obliged to spend outside of Malta a period of 6 months consecutively or a period of 10 months in the aggregate in a five year period, this provision has now been removed. This means that the Main Applicant and the family are free to reside in Malta indefinitely, although not under any obligation to do so.
Apply for the Long-Term Residency & Maltese Citizenship
By virtue of the above mentioned amendments which removed the residency requirements outside of Malta, this opens the possibility for the Main Applicant and the family to apply for long term residency and eventually citizenship in Malta, subject that the requirements for both options are fulfilled.
Chetcuti Cauchi Advocates’ Malta Residence & Visa Programme Services
Applications for the Malta Residence & Visa Programme are to be made to and processed by Identity Malta. Applicants must be represented by an Accredited Person that is a licensed Maltese Authorised Registered Mandatory (ARM). Dr Jean-Philippe Chetcuti (Chetcuti Cauchi Advisors Ltd) holds licence no. IIP 001 and Mr Kenneth Camilleri holds license no. IIP 124 and have satisfied the additional requirements imposed by the Regulations over and above the requirements for ARMs under other legislation.