The Maltese government introduced the Malta Global Residence Programme in 2013, allowing people who can invest in real estate in Malta and direct their income to the tiny island to acquire a residence permit. To acquire Maltese residence under this residency scheme, you need to buy a property valued at Euro 220,000 or over in Gozo or the south of Malta.
Purchasing a property priced at Euro 275,000 in central and northern Malta is another way to qualify for the Malta Global Residence Programme. Those foreigners who want to acquire residency in Malta by renting a property can also be eligible for this residency scheme if they pay the monthly rental amount of €800 for a property in Malta or Euro 730 per month for a property in Gozo or Southern Malta.
Non-EU nationals can apply for the Malta Global Residence Programme if they are interested in acquiring a residence in Malta and enjoy a favorable tax rate. The best part of this Maltese residency scheme is that applicants do not need to provide any guarantees or sign a bond or even stay in Malta. Upon gaining a residence permit, you become eligible to seek employment or set up a business on the island.
According to papilioservices.com/residence/, there are specific eligibility criteria for non-EU nationals. To qualify for this residency scheme, you need to hold a qualifying property, which you will occupy as your principal place of residence globally. Depending on your preference, you can either purchase a property or go for a rental one.
Furthermore, applicants need to prove that they can sufficiently maintain themselves with stable and regular financial resources. You may also need to demonstrate the same for your dependants, showing that they won’t need to resort to the Maltese social assistance system. Besides being a fit and proper individual, holding health insurance for you and your dependents is another requirement to qualify for the Golden residency scheme. You must also have valid travel documents and can communicate in English or Maltese.