Additional benefits come with Malta's second passport. Discover them all through this guide by Albert Ioffe, Legal and Compliance Officer at Immigrant Invest.
Allure of Malta's lifestyle
Mediterranean climate. Malta enjoys over 300 days of sunshine each year, ideal for outdoor activities. The warm climate and beautiful landscapes are perfect for those who love the sea, with many beaches and marinas.
Cultural heritage. Malta has a rich cultural history. The capital city, Valletta, is a UNESCO World Heritage site with museums and cultural events.
High quality of life. Malta offers excellent healthcare and education systems. The safe environment, friendly communities, and good infrastructure attract families and retirees.
Education and healthcare
Top-notch education. Malta offers excellent educational facilities, including international schools following the British education system.
Quality healthcare. Malta’s healthcare system is one of the best in Europe, with both public and private options. Expatriates praise the accessibility and quality of healthcare services.
Real estate market
Diverse property options. Malta’s real estate market offers a range of properties, from luxury apartments to historic townhouses and modern villas. The process of buying property in Malta is straightforward, with clear regulations and a transparent market.
Investment potential. Malta’s property market has shown steady growth, making it a solid investment choice. Properties in prime locations like Valletta, Sliema, and St. Julian’s are particularly sought after.
Current market trends. Malta's real estate market is growing steadily, with an annual growth rate of 3.74% expected from 2024 to 2028. This makes it a good time to invest, as property values are likely to increase.
Prices. In the south of Malta and Gozo, the minimum property purchase price is €300,000, while in other regions, it is €350,000. Renting a property requires a minimum annual lease of €10,000 in the south and €12,000 in other areas.
Associated costs. Additional costs include a notary fee of 1–3% of the property value, VAT on notary fees, an agency fee if applicable, and a €233 AIP permit fee. There is no annual property tax, but a land tax of €40 to €250 may apply.
Economic and business benefits
Favourable tax regime. Malta has no inheritance tax, no wealth tax, and a relatively low income tax rate. However, the Malta Permanent Residence Programme (MPRP) itself does not offer specific tax benefits. Individuals interested in Malta's tax system may explore these features, but they are not directly linked to any immigration program.
Business opportunities. Malta’s location and pro-business environment attract entrepreneurs and investors. The country has a strong financial services sector, focusing on fintech, blockchain, and gaming industries.
Residency programmes. Malta’s residency programmes, such as the MPRP, provide access to many other countries for travel purposes. However, obtaining Maltese residency does not automatically grant the right to work or live in other EU countries.
Lifestyle and leisure activities
Outdoor activities. Malta’s natural beauty offers activities like sailing, diving, and hiking. The clear waters are perfect for diving enthusiasts.
Gastronomy. Malta’s cuisine reflects its Mediterranean roots, with plenty of fresh seafood, local produce, and traditional dishes. There are many high-end restaurants and international dining options.
Social life. Malta’s social scene is lively, with events, festivals, and nightlife options. The island’s compact size makes it convenient to enjoy a rich social life.
Malta Permanent Residence Programme (MPRP) to those considering Malta immigration
Investment requirements. Applicants must donate at least €2,000 to charity, and also choose between the following:
- Rent residential real estate in Malta for five years; the minimum is €10,000 a year. Also pay the €40,000+ administrative fee, and the €58,000+ contribution fee.
- Or buy residential real estate in Malta and hold it for five years; the minimum is €300,000+. Also pay the €40,000+ administrative fee, and the €28,000+ contribution fee.
Family inclusion. The programme allows for the inclusion of principally dependent family members:
- minor children;
- adult children, with the additional fee of €5,000 each;
- parents and grandparents, with the additional fee of €7,500 each.
Note that the MPRP is not a way to obtain Maltese citizenship after residency.
Process of joining the Malta Permanent Residency Programme
- Preliminary Due Diligence. A preliminary Due Diligence check is conducted to identify potential issues, reducing the risk of application refusal to 1%. This step takes about one day.
- Document preparation. Immigrant Invest lawyers assist in preparing and translating required documents. This stage takes 4-5 weeks.
- Application processing. The Residency Malta Agency conducts Due Diligence, which usually takes 4-6 months.
- Investment fulfilment. Once approved, investors must fulfil investment requirements within eight months.
- Fingerprinting. Applicants must visit Malta to submit their biometrics.
- Final approval and card collection. Final approval is issued, and residence cards are sent to the applicants. The cards are valid for five years.
In a nutshell
Malta is a top choice for a second home due to its good climate and cultural sites. The Malta Permanent Residence Programme (MPRP) offers an easy path to residency. Favorable taxes, business opportunities, and a strong real estate market attract many. Malta’s quality of life, healthcare, and education make it appealing to expatriates.