Published: April 1st, 2019, 11:29 am | Updated: October 23rd, 2023, 03:40 am
|||With its UNESCO World Heritage site capital and stunning coastline dotted with luxury yachts in hidden coves, Malta offers a refined version of island living. So it would only stand to reason this Mediterranean paradise would offer two residency programs that cater directly to high net-worth individuals—the Malta Residence and Visa Program (MRVP) and the Malta Global Residence Program (GRP).
Deciding which program is right for you is really a question of what you’re looking for when it comes to seeking a second passport.
For those looking for the comforts of a home away from home, the Malta Residence and Visa Program (MRVP) is the best option. Interested applicants can invest in real estate in Malta with the intention of living there for a certain portion of the year. In exchange, investors are eligible to receive a five-year residency permit that can be renewed indefinitely. It is possible to lease property under this agreement, but there is far more value and equity in purchasing your own property.
By having a home base in Malta, you can truly experience everything this beautiful country has to offer by living life like one of the locals. That means dining on fresh seafood, browsing stalls at the open-air markets, and soaking up all the warm Mediterranean sun and turquoise blue water you can possibly want. Plus, having your own property means you can entertain family and friends who will be sure to want to visit you in your new island hideaway.
But, if you’re not quite ready to plant roots in Malta, you can still benefit from the right to travel and work in the Schengen Area through the Malta Global Residence Program (GRP) option. The GRP is most appealing for high net-worth individuals who are looking for a more favourable tax climate for their income. Through the GRP, applicants are able to obtain special tax status and pay a flat rate on their foreign income. This option also allows for the right to work in Malta, which has a favourable business climate and offers many economic benefits.
With its strategic location off the coast of southern Italy, Malta is also in close proximity to North Africa and the Middle East which means it is easily accessible from most major transportation hubs through air travel. But the real way to travel here in style is by water. Climb aboard a luxury yacht and arrive in Malta the same way explorers and travelers have for thousands of years. Once you see the stunning coastline from the sea, you might just have a hard time turning around to go back home.
For more information about the full program details and qualifications for either of Malta’s residency options or full citizenship, please contact us to schedule a complimentary consultation.
