Maltese passport opens lots of possibilities in terms of business, education, healthcare services, and, of course, travel. With a steadily growing real estate market, Malta’s citizenship by property investment becomes even more tempting. The country can become your second home and bring prosperity to your business. This article will discuss everything you need to know about Malta’s real estate investment and golden visa program.
Reasons to Invest in Property in Malta
Malta’s real estate market has been on a stable rise for a long upward movement and continues to show steady growth. New projects constantly appear and promise good returns to their investors. This is because of both lucrative tax legislation and the popularity of the country among tourists. Every year, Malta attracts over 2 million of them, and those people need places to stay, live, and entertain themselves. There is money to grab, and all an investor needs is to find promising real estate that falls under the investment for non-residents conditions.
Another reason for Malta’s real estate investment popularity is because it is a part of obtaining citizenship through investment. After residing in the country for 12 months, an investor can apply for Malta citizenship investment, which, upon completion, will grant passports to both investor and his/her family. After that, they can make use of all the benefits of being both an EU and a Commonwealth citizen (Malta is a member state of both):
- Visa-free travel to over 160 countries across Europe, Asia, Africa, and America.
- Possibility to travel through the EU freely.
- Stay and work in any country in the EU.
- Expand business across Europe.
- Get access to high-quality education and the free healthcare system.
Citizenship by investment in Malta costs a fortune, especially compared to similar programs in the Caribbean countries. It demands to go from a simple residence permit to permanent residence and finally to citizenship and has specific expenses at each stage. According to Victoria Atanasova, an expert from Immigrant Invest, the grand total reaches about €870,000, including fees, and comprises mainly initial residency permission cost, Malta property investment or leasing requirements, and national fund contribution.
How to Buy Property in Malta?
Whether you are making a Malta immigration investment or simply want to have a place to visit from time to time in this beautiful country, the first step is getting a purchase permit. According to immigrantinvest.com, foreigners willing to buy property in Malta must apply for an AIP or Immovable Property Permit. Its conditions state that such property must be used for residence purposes and cannot be rented or sold in parts. If the preliminary contract has already been made, its copy must be included in the AIP application.
Only Maltese citizens can buy property without a need for special permission. An exception is made for so-called SDA areas reserved for the construction of residential complexes.
Takeaways
Malta is a wonderful place both to reside and invest in. Developed infrastructure and a good climate make it a wonderful place to live, and a booming real estate market makes it wonderful for investing. Malta’s investment citizenship is among the main reasons to invest in real estate in the country. After living in the country for 12 months and making qualifying investments, investors and their families can apply for citizenship. Maltese passport grants all the benefits of being a European Union citizen. Citizens of other countries must obtain an AIP to buy property in Malta.
