Malta permanent residence for a Nigerian entrepreneur: running a business in Europe without intermediaries
I was attracting more and more European customers but had to work with all of them through a partner. I didn’t like the fact that my business depended on someone else too much. I needed a solution. I wanted to work with all the clients directly. So I decided to get a residence permit in Europe.
Ngozi,
Owner of an agricultural business in Nigeria
Clients’ names and photos have been changed
This case was provided by our expert
Investment programs expert
Malta permanent residence for a Nigerian entrepreneur: running a business in Europe without intermediaries
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How Ngozi obtained permanent residence in Malta by spending €103,510 and 11 months
To get Malta permanent residence, the investor spent €103,510. The process took less than a year, from turning to Immigrant Invest to receiving the residence card.
March 4th, 2022
Preliminary Due Diligence
Before preparing Ngozi’s application, our AML Compliance Officer ran internal Due Diligence on the investor. This check is needed to be certain of Ngozi’s eligibility for the investment program and reasonable chance of success.
After the check found no issues, Ngozi signed a Services Agreement with Immigrant Invest.
Before preparing Ngozi’s application, our AML Compliance Officer ran internal Due Diligence on the investor. This check is needed to be certain of Ngozi’s eligibility for the investment program and reasonable chance of success.
After the check found no issues, Ngozi signed a Services Agreement with Immigrant Invest.
+ 1 month
Collecting documents and applying, €10,000
Immigrant Invest lawyers provided Ngozi with the list of documents he needed to submit. The documents confirmed the investor’s identity, clean criminal record, absence of tax arrears, the legality of business and all income, and availability of the required capital.
Assets of at least €500,000 were summed up from the following: €200,000 held in Ngozi’s savings account and €336,000 of his business value. As proof, the investor filed the bank statement and the company’s asset valuation performed by the licensed independent appraiser.
The lawyers also filled in all the necessary forms and applied to the Residency Malta Agency on behalf of the investor. Ngozi paid €10,000, part of the administration fee, for the Agency to process his application.
Immigrant Invest lawyers provided Ngozi with the list of documents he needed to submit. The documents confirmed the investor’s identity, clean criminal record, absence of tax arrears, the legality of business and all income, and availability of the required capital.
Assets of at least €500,000 were summed up from the following: €200,000 held in Ngozi’s savings account and €336,000 of his business value. As proof, the investor filed the bank statement and the company’s asset valuation performed by the licensed independent appraiser.
The lawyers also filled in all the necessary forms and applied to the Residency Malta Agency on behalf of the investor. Ngozi paid €10,000, part of the administration fee, for the Agency to process his application.
+ 6 months
Main Due Diligence
Ngozi’s candidacy for a Maltese permanent resident was considered for half a year, after which he received preliminary approval. To get final approval, he was to fulfil all the investment conditions.
Ngozi’s candidacy for a Maltese permanent resident was considered for half a year, after which he received preliminary approval. To get final approval, he was to fulfil all the investment conditions.
+ 2 months
Fulfilling the investment conditions and delivering biometrics, €93,400
Ngozi paid the fees: the rest €30,000 of the administration fee and €58,000 as a contribution fee as he opted to rent housing.
Immigrant Invest real estate experts offered the investor several apartments for rent. Ngozi chose an apartment in the seaside town of Birzebbuga, in the Southern Region of Malta.
The rent was €850 a month. The investor signed a five-year contract and paid €3,400, the rent for the first three months and a refundable deposit equal to the one-month payment. The annual rent would be €10,200, which fitted the program’s conditions.
The investor also donated €2,000 to charity and took out an insurance policy.
Ngozi paid the fees: the rest €30,000 of the administration fee and €58,000 as a contribution fee as he opted to rent housing.
Immigrant Invest real estate experts offered the investor several apartments for rent. Ngozi chose an apartment in the seaside town of Birzebbuga, in the Southern Region of Malta.
The rent was €850 a month. The investor signed a five-year contract and paid €3,400, the rent for the first three months and a refundable deposit equal to the one-month payment. The annual rent would be €10,200, which fitted the program’s conditions.
The investor also donated €2,000 to charity and took out an insurance policy.
+ 5 weeks
Receiving final approval
On the same trip that the investor took to look at apartments, he got fingerprinted — that was the last condition. After that, the lawyers provided the Residency Malta Agency with additional documents showing Ngozi met all the program terms.
Immigrant Invest received the final approval in a week, meaning Ngozi would be issued permanent residence cards.
On the same trip that the investor took to look at apartments, he got fingerprinted — that was the last condition. After that, the lawyers provided the Residency Malta Agency with additional documents showing Ngozi met all the program terms.
Immigrant Invest received the final approval in a week, meaning Ngozi would be issued permanent residence cards.
+ 2 weeks, February 1st, 2023
Receiving a permanent residence card, €110
After another two weeks, the investor received a Maltese permanent residence card. For that, he paid a fee of €110.
After another two weeks, the investor received a Maltese permanent residence card. For that, he paid a fee of €110.
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