Malta permanent residence for the family which adores Italy

Vaja began searching for information about possible ways of unlimited staying in an EU country without getting European citizenship. He discovered that he could obtain a residence permit instead. But all EU countries have their criteria for obtaining status.

To get citizenship in Italy, the investor would first have to obtain residence permits, then permanent residence, and lastly, citizenship — a total of ten years. For Vaja, it was too complicated and a lengthy procedure way.

Seeing no solution, Vaja decided to turn to a consulting company in the field of obtaining second citizenship and residence permits by investment.

The investor chose Immigrant Invest over other companies as it is the only company conducting preliminary Due Diligence in the industry. In addition, Vaja liked that Immigrant Invest has been checked and accredited by the citizenship and residence permit programs in the EU and the Caribbean. The licences confirm it.

On 6 January 2021, Vaja contacted Immigrant Invest.

Vladlena Baranova,

Head of Legal & AML Compliance Department, CAMS, IMCM

Before starting cooperation and signing a contract with the client, we conduct a comprehensive preliminary Due Diligence. The check helps eliminate the risk of failure in citizenship or residence permit programs.

Suppose we find points in their background that could result in the investor’s application rejection. In that case, we offer a suitable alternative solution or decline to proceed with the application after explaining the situation to the client concerned.

The preliminary Due Diligence showed that Vaja had no issues preventing him from participating in a program: Vaja had no criminal record or visa denials, and he got his income from his company and had no tax debts.

The Immigrant Invest team was 99% confident that any citizenship program would approve Vaja’s application. However, there is always a minimal risk of rejection, as the final decision remains with the citizenship program department.

Vaja’s main criterion was to stay in an EU country for an unlimited time. Immigrant Invest lawyers have selected appropriate programs for Vaja.

An investor can obtain EU citizenship or residence permit by participating in the programs such as Malta Permanent Residence Programme, Portugal residence permit, Cyprus permanent residence, and Malta citizenship.

Vaja chose Malta Permanent Residence as the less expensive program. The family liked that Malta is located next to Italy, making trips short and low-cost. Ferries to Sicily from Malta go every 1.5 hours.

An investor passes Due Diligence, fulfils investment conditions and gets permanent residence in Malta.

An investor fulfils several investment conditions:

• buys or rents a residential property;

• pays administrative and state fees;

• donates to a Maltese organisation;

• confirms the availability of free assets of at least €500,000, including at least €150,000 of liquid financial assets, such as deposits, stocks or bonds, every year during the first five years after getting permanent residence.

All the requirements are mandatory. The only choice an investor makes is renting or purchasing real estate.

An investor can add in an application the whole family: a spouse, children, parents and grandparents.

If choosing a buying real estate option, an investor is to own the property for at least five years after obtaining permanent residence. After five years, an investor can sell it and return a part of the invested money.

The lease term required by the program is also five years.

Vaja chose to rent real estate in Malta. The investor planned to use the apartment while on holiday in Europe with his family.

Immigrant Invest real estate experts have selected several suitable options for the investor.

Elena Kozyreva,

Managing Director for Real Estate projects

We recommend setting aside three days to select an apartment in Malta. The investor is looking at options with a realtor and an Immigrant Invest lawyer. When the investor has made a choice, the realtor provides a lease agreement and the investor signs it. We check the legal purity of the object and the terms of the contract before viewing the objects.

Vaja has chosen to view the property remotely, using online video broadcasting. The investor and his wife liked the three-bedroom apartments within walking distance from the sea.

The apartment has stunning sea views, a private pool, gym, underground parking and security. The project is located just five hundred metres from the city centre, where there are all amenities: from shopping centres to fine restaurants, cafes and bars.

Examples of properties in Malta

Malta, Kalkara

€300,000 — €1,900,000

Apartments in a large-scale residential project on the first coastline

71 m² — 310 m²

1—3

1—3

Malta, Sliema

€920,000 — €1,300,000

Apartments in a new residential high-rise project near the sea

176 m² — 211 m²

2—3

2

Malta, Valletta

€1,510,000 — €3,370,000

Modern apartments not far from sea in Valetta

123 m² — 281 m²

1—3

1—3

An investor goes through six stages to get permanent residence in Malta.

1. Collection of documents. Immigrant Invest lawyers have prepared all the necessary documents to apply for permanent residence in Malta for the Vaja’s family:

• copies of passports of the spouses;

• marriage certificate;

• birth certificates of children;

• investor’s bank account statement for the last six months;

• company tax returns;

• medical insurance;

• Police Clearance Certificate;

• copy of the real estate lease agreement for five years.

The lawyers filled out state forms, translated documents into English and apostilled them. Documents were ready in four weeks.

Immigrant Invest lawyers submitted the documents to the Residency Malta Agency. Along with the submission, Vaja paid the administration fee of €10,000.

2. Due Diligence in Malta for investors is one of the most stringent in the world — every year, the program department rejects a quarter of applications.

First of all, the program department checks the legality of the investor’s income:

• all places of work;

• sources of income throughout life;

• assets owned by the investor and his family members.

3. Fulfilment of investment conditions. Vaja paid the remaining €30,000 of the administration fee and €65,500 of the contribution fee. The investor also donated the amount of €2,000.

Vaja transferred the investment from his bank account to the account of the Residency Malta Agency.

The investor also received health insurance covering €30,000 for each family member. Obtaining medical insurance is a condition of the program.

When all the conditions were met, Immigrant Invest lawyers submitted the supporting documents to the Residency Malta Agency.

€168,500 — the investor’s expenses under the Malta Permanent Residence Programme for a family of four

• €60,000 — renting real estate for five years

• €40,000 — administrative fee

• €65,500 — contribution fee

• €2,000 — charitable donation

• €1,000 — medical insurance

4. Submitting biometrics in Malta. Vaja received an invitation to submit biometrics from the Residency Malta Agency. On 22 June 2021, the investor and his family flew to Malta to be fingerprinted.

From the airport to the Residency Malta Agency, the investor and his family were accompanied by an Immigrant Invest lawyer.

The biometry submission process took one day. On the same day, the family flew home.

5. Getting approval. The Residency Malta Agency reviewed the additional documents provided by the Immigrant lawyers after the investor had fulfilled all the program’s conditions.

After that, Immigrant Invest lawyers received the final approval, which means that the Vaja and his family will get permanent residence cards.

6. Getting permanent residence cards. In two weeks, the Residency Malta Agency issued certificates of residence and permanent residence cards for Vaja’s family and sent them to Immigrant Invest lawyers in Malta.

Vaja got the documents by courier to the address he had indicated.

7 months to get Malta permanent residence

1

6 January 2021

Vaja turned to Immigrant Invest

2

+ 1 day

Preliminary Due Diligence

3

+ 3 days

Renting an apartment

4

+ 4 weeks

Collecting the documents

5

+ 4 months

Due Diligence

6

+ 2 weeks

Fulfilment of investment conditions

7

+ 1 day

Submitting biometrics

8

+ 2 weeks

Permanent residence cards issuing

9

7 July 2021

Obtaining Maltese permanent residence cards

1

6 January 2021

Vaja turned to Immigrant Invest

2

+ 1 day

Preliminary Due Diligence

3

+ 3 days

Renting an apartment

4

+ 4 weeks

Collecting the documents

5

+ 4 months

Due Diligence

6

+ 2 weeks

Fulfilment of investment conditions

7

+ 1 day

Submitting biometrics

8

+ 2 weeks

Permanent residence cards issuing

9

7 July 2021

Obtaining Maltese permanent residence cards

Now the family has become even closer to Italy. They are separated from Italy by an hour and a half road.

Vaja and his wife spend three months in Italy. And for the rest of half a year, they resolve business issues and meet with European partners in Malta. Their daughter and Tatiana’s mother go to Malta or Georgia after spending time in Italy. Then again, the whole family reunites in Italy.

Immigrant Invest is a licensed agent for government programs in the European Union and the Caribbean.