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PERMANENT RESIDENCE
Frequently Asked Questions
1. Do I need to be present
in Malta to apply?
No. You can forward the necessary
documentation by email or fax for us to review it for you. You may then
proceed to send it by courier to us. Upon receipt of your documentation, we
can take care of your application from beginning until successful
completion.
2. Do I need to live in Malta?
Once you have visited Malta once within a year
of the issue of the permit, you need not reside in Malta at all, as long as
the permit conditions are satisfied year after year. We can assist you with
full annual permit compliance..
3. What are the conditions
for obtaining a PR Permit?
The basic conditions for the issue of a
Permanent Residence Permit are the following:
1. You must receive a global annual income of
LM10,000 or over, or possess a global capital equivalent to LM150,000 or
over, with no obligation to transfer all your income/funds/investments to
Malta – only the minimum (2. below); and
2. You must bring into Malta a minimum annual
sum of LM6,000 (LM 1 = approx. Euro 2.4 = approx. USD 2.7) and LM1,000 per
dependent (e.g. spouse, children, relatives...).
3. Once you are granted permanent residence
status, you may not enter employment or conduct any business in Malta. (you
will be able to provide services on a freelance basis from Malta to
non-residents but not to Maltese residents).
4. Within a year of the issue of the PR
permit, you must purchase immoveable property in Malta for not less than
LM50,000 in the case of a house or LM30,000 in the case of an apartment. You
may choose to rent out a house for at least LM1,800 annually.
4. Can property be rented out whilst not in
use?
Owners of properties with swimming pools or
properties enjoying the use of swimming pools are allowed to rent them out,
provided that such properties are licensed as holiday accommodation by the
Hotels and Catering Establishments Board. All income thereon, is of course,
subject to the 15% tax and may be freely repatriated. |
