Residency Visa in Malta

Residency Visa in Malta

The first thing that arises very frequently in our mind big with think to work or live in another country, is how can we get a residency visa if we buy property in Malta. You will get to know the entire process that how you can get a Residency Visa in Malta with Steadyfast Services

The Basic Eligibility Criteria to Get a Malta Residency visa

Your property should be valued at €500,000+ and the second condition is it, the property should be habitable which means it should be ready to move in property. You cannot get a residency visa if the property is still under construction. The third condition is the property should be mortgage free which means you should own the property 100%. If the property is a mortgage obviously the title deed will mention the name of the bank and that is not acceptable when you apply for Malta Residency Visa.

Types of Malta Residency Visa

Now when it comes to Malta Residency visa, there are four types of residency visa in Malta which you can get if you apply via the purchase of your property. We will understand one by one what is the difference between the following types of visas and what is the process to get these visas.

FIRST: 6 Months Multiple Entry Residency Visa

The validity of this visa is 6 months and you have a multiple entry visa which you can come multiple times during these six months. This visa is issued by relevant immigration authorities and not by the Malta land department. You need to renew it every six months and also you won't get the benefits like an eminence ID, driving licence and you cannot sponsor your family either.

SECOND: 3 Years Residency Visa

The criteria to get this visa is the property value should be €500,00 plus the property should be mortgage-free and the validity of this visa is 3 years. With a visa you can get the benefits of Malta ID, driving licence and you can sponsor your family as well

6.Overseas Medical Insurance – It should apply to all Schengen countries and cover the duration of a person's stay or transit.

7.Proof of the applicant's financial means – e.g., Bank statements from the previous three months, assets, and so forth.

8.Visa Fee – The standard visa price is EUR 80 for adults and EUR 40 for children aged 4 to 11. The application center may charge extra service fees. Usually, it is paid in local currency, with conversion rates varying by country.

THIRD: 5 Years Residency Visa

The criteria for this visa your investment should be €100,000 and also you should hold this investment for three years along with the multiple ID, driving licence you will get all the benefits that you used to get with 3 years residency visa.

FORTH: 10 Years Long Term Residency Visa

As the name suggests the investment cost required for this type of visa is €100,000 out of this minimum 40% should be done into real estate and the remaining 60% you can invest in any other revenues available. With 10 years residency visa the validity is 10 years. You get to sponsor your family, you can use the Malta ID as well as a driving licence. In addition to these visa benefits, you can also sponsor an executive director and an advisor with the 10years residency visa. There is one condition you need to prove that this €100,000 which you have invested are not financed or are not borrowed from someone.

Terms and Conditions for Residency Visa Malta

✔ The value of the property should be a minimum 150,000

✔ The property should be freehold

✔ The property should be habitable ready to move in condition

✔ Property should be mortgage-free

✔ If you are buying as a join purchase then each pair should have a share of €98,000 plus

Documents Required in Order to Apply for Residence Visa in Malta

✔ You need an original title deed

✔ Passport copy

✔ Current visa status

✔ Passport size photos