European residency options for Thabo’s family
In March 2016, Thabo contacted Immigrant Invest and explained all the family’s issues. The lawyers highlighted the main goals:
- Irene needs to be treated in Austria, on time and without extra paperwork;
- Thabo and Irene want to be free to visit their children in the Schengen Area anytime;
- they must be eligible for an extended stay in Europe without additional visas and documents;
- their daughters need to be able to stay in Europe after finishing their degrees.
Thabo and Irene were not going to move to Europe. They both had a job with prestigious positions in a law company in Cape Town. During the discussion, the couple started to think about peaceful retirement in Europe, closer to the sea.
Regarding the family’s request, the Immigrant Invest lawyers offered several decisions, including Malta, Spain and Portugal investment routes.
Investment programs in Europe
|The country||Costs and timeframe|
|Portugal residence permit||€250,000+ |
|Malta permanent residence||€290,000+|
|Spain residence permit||€500,000+ |
All three counties are members of the EU and Schengen Area. Residence permits in all states above can cover Thabo and their relatives' needs. Besides, Malta, Portugal and Spain are perfect for retirement relocation due to the mild climate, safety and access to the sea.
The Malta Residence and Visa Programme became the best solution for Thabo and his big family because permanent residence offers status for life with a renewal of ID cards every five years. A residence permit is granted for a year in Portugal and Spain, subject to extension.
In March 2021, the Malta Residence and Visa Programme (MRVP) was discontinued
The Malta Permanent Residence Programme (MPRP) replaced the previous investment route. Under the new rules, foreigners can obtain a Mala permanent residence in 4—6 months. The MPRP is based on either a property purchase or the rental of property, together with the payment of a government contribution and a charity donation.
The lifetime status in Malta allows investors to enjoy the following benefits:
- live in one of the safest countries in the world,
- have access to leading healthcare institutions,
- provide a world-class education for your children,
- gain the right to purchase a second home,
- revel in the warm summers and moderate winters,
- easily communicate through English as an official language,
- settle down with a practical yet opportunity-rich standard of living,
- have infinite profitable investment property options,
- no more visa applications or Schengen visa blocks in case of instability.
Malta Residence and Visa Programme (MRVP) conditions
Immigrant Invest lawyers informed Thabo about all stages and conditions during the application process.
An individual wishing to apply for the Malta Residence and Visa Programme is obliged to do so through a licensed agent. Immigrant Invest is a licenced agent of the Maltese residency programs and helps investors at all process steps.
In April, investors agreed with Immigrant Invest lawyers and started to prepare documents. Irene and the kids could join Thabo in one application.
Under MRVP, one application can include the following:
- the main applicant and dependents as their spouse or partner,
- children under 18,
- parents of the applicant and their spouse,
- children over 18, unmarried and financially dependent on the main applicant.
The main applicant must confirm an annual income of at least €100,000 or capital of at least €500,000. All dependents must have health insurance covering the EU and valid travel documents.
The applicant must satisfy the following three-tier structure:
- A non-refundable administrative fee of €30,000. It covers the main applicant, spouse, and children.
- Government Stock purchase worth €250,000 for a period of five years.
- Buying or rental property:
- Purchase property at a consideration of not less than €320,000 for a property situated in the North of Malta, or €270,000 for a property situated in Gozo or the South of Malta; or
- Rent a property of not less than €12,000 per annum for a property situated in the North of Malta or €10,000 for a property located in Gozo or the South of Malta.
The qualifying property is to be held by the investor for a minimum of 5 years from the date of the renting or purchase.
Thabo decided to lease an apartment in Gozo to spend time with their family. Maybe later, when he discovered all regions carefully, he would choose to buy an apartment or house in the district he liked.
Obtaining Malta permanent residence
1. Preliminary Due Diligence. All family members passed an initial check against international legal and business information databases. Thabo and Irene were also checked for harmful or compromising information materials on the Internet.
One day later, a certified Anti Money Laundering Officer concluded that the client could participate in the Malta Residence and Visa Programme with minimal denial risk.
2. Collection and execution of documents. Immigrant Invest's lawyers made a list of needed documents for the application:
- Certificate of no criminal records.
- Birth certificate for parents and children.
- Marriage certificate.
- Wealth history for the main applicant.
- List of assets — real estate, owned companies, securities, deposits.
- List of affiliated companies where the investor is a direct or indirect shareholder or a director.
Thabo provided the originals. Lawyers submitted documents for translation and certification and filled out forms on behalf of the applicant. After that, the lawyers applied to the Malta Residence and Visa Agency (MRVA).
To include children in the forms, Thabo brought the documents confirming that they are principally dependent applicants. It was a bank statement with money received by kids, payment for their study in Germany and other costs for their living.
3. MRVA Due Diligence. During the process, MRVA requested additional information about Thabo’s business activities in a commercial company five years ago. The client provided a statement from the tax service about the company without any debts.
4. Fulfilment of the investment condition. The Malta Residence and Visa Agency sent a notice of approval to Immigrant Invest. Thabo paid €30,000 of the administration fee within two weeks of approval.
5. Renting a property. Thabo decided to acquire a Malta permanent residency by renting real estate. Immigrant Invest lawyers helped to select the appropriate apartment.
Example of an apartment similar to the one rented by Thabo
At the same time, the investor got medical insurance with a minimum coverage of €30,000 per person. Paying the contribution fee, stock purchase and renting property were completed within two months.
6. Fingerprinting in Malta. Thabo and Irene travelled to Malta and provided their fingerprints at the MRVA.
7. Final approval. The Malta Residence and Visa Agency reviewed the additional documents provided by the lawyers after Thabo had fulfilled all the programme conditions. After that, Immigrant Invest received the final approval.
8. Getting permanent residence cards. The Malta Residence and Visa Agency issued a Certificate of Residence and permanent residence cards and sent them to Immigrant Invest lawyers in Malta. Thabo got the documents by courier and didn’t have to visit Malta to collect them.
€331,500 paid Thabo to participate in the Malta Residence and Visa Programme
Medical insurance $1,500
Administrative fee €30,000
Government stock purchase €250,000
How family’s life has changed after obtaining Malta PR
We talked to Thabo and his wife, Irene, on the phone and found them satisfied with their new opportunities with Malta permanent residency.
After graduating, their children can claim a relevant position in any prosperous European country.
|❌ Applying for a visa to get to Schengen states||✅ Visa-free travelling to the Schengen Area|
|❌ Treatment in Africa or Europe with a special invitation from the clinic and a Schengen visa||✅ Treatment at the best European hospitals|
|❌ Children’s future: work in South Africa||✅ Children’s future: an opportunity to stay in Europe and find a job after graduating|
|❌ Living only in South Africa||✅ Second home in a Mediterranean country|
|✅ Prospect of a peaceful retirement in a safe country near the sea|
With Malta permanent residence, Irene entered Vienna without obtaining a Schengen visa. She completed another therapy course recommended by her therapist.
Irene started to think about being treated in Malta clinics. She found impressive figures describing Malta as a state with a leading healthcare system. That’s why she has already searched for a house or apartment close to the sea to buy.