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If you’re looking to sell property in Malta to Golden Visa buyers in 2020 from non-European Union nations, then you will be happy to know that Malta is very popular with Chinese, Russian and Middle Eastern property investors. There is also the impression that the Maltese Golden Visa program is one of the most relaxed of its kind in Europe.
It also helps that Malta is a part of the European Union’s Schengen zone, so by getting a residency permit in Malta through the Golden Visa, one also gets a free Schengen Visa as well. Clearly, Malta’s Golden Visa program, which is officially known as The Malta Individual Investor Program is for high net worth individuals.
Christian Kälin, the chairman of Henley and Partners says: “The Malta Individual Investor Program was carefully developed and constructed to ensure that it would be highly attractive to the right kind of individuals. The early success of the program is a testament to its viability and security and gives a clear indication of the significant benefits that it will bring to Malta.”
Mr. Kälin explains that someone applying for the program should “commit to retain a residence in Malta for a period of at least five years, either through the purchase of a property, for which the minimum value must exceed €350,000, or through leasing of a property, for which the minimum annual rent must exceed €16,000.”
Markus Thoene, managing partner of Sotheby’s International Realty talks about how people looking to buy the Golden Visa in Malta are not just looking for residency permits – they are actually attracted by what Malta has to offer them, in terms of climate and a high standard of living. He says, “People coming here are not coming here for a visa, they are looking for a home in the sun.”
He explains how the Golden Visa program in Malta can be made better: “The focus of the law is not focused on immigration, it’s focused on investment. Many of the expectations [of people interested in immigrating] are not met by the law.”
Golden Visa in Malta – The Details
If you’re keen to sell property in Malta to Golden Visa buyers, it would help to be aware of some of the details of this policy. Only those who are not citizens of Europe can apply for the Golden Visa.
To apply for the Golden Visa, the cost of the property purchase should be between 220,000 Euros in Gozo or in South Malta or 275,000 Euros in other areas of Malta.
Another option is to obtain direct citizenship in Malta by investing at least 650,000 Euros in the Malta National Development Fund and also on buying properties worth 500,000 Euros in the country. One may buy 2 or 3 properties as well.
In addition, it is required to pay an additional 20,000-50,000 Euros for each family member. The only conditions are that the applicant should not have a criminal record of any sort.
So, the Golden Visa in Malta offers the easiest way to get citizenship in an EU member nation for rich, high net worth investors. While trying to sell property in Malta to Golden Visa buyers from China, Russia or India, this is a point that needs to be stressed upon.