Golden Visa News: Are you considering living in a European country? This country’s Golden Visa program can help you.
Malta’s Golden Visa program has currently become one of the most preferred options for Indian citizens wishing to live in the European Union (EU). The top countries seeking this program include China, Vietnam, India, South Africa and Turkey. According to Moneycontrol, according to investment migration consultancy Henley & Partners, Malta’s Golden Visa program is one of the top residency-by-investment visas. Residency-by-investment or golden visa is a way to obtain immigration, permanent residency or citizenship in another country. Such visa programs help wealthy individuals buy residence rights.
Features of Malta Visa Program
Several factors are responsible for the surge in demand for MPRP. Firstly, it facilitates residency in the European Union as Malta is a member country. This allows residents to travel freely within the Schengen area, which comprises 27 European countries. According to Rohit Bhardwaj, country head, Henley & Partners, Malta is located in the middle of the Mediterranean Sea. It is known for its rich history, stunning architecture and beaches.
The MPRP offers permanent residence with the possibility of naturalisation after 5 years. It is a structured residency-by-investment programme based on investment in property and government contributions. The programme is particularly attractive to families as it allows applicants to include their spouses, children and dependent parents or grandparents.
Why Indians are liking the visa program
Malta offers many benefits, including better tax structure, investment opportunities, stability and security, high quality of life, English speaking environment and a path to permanent residency and citizenship.
How to get a visa?
The person applying for the visa must be at least 18 years of age. Along with this, the applicant will have to submit an affidavit declaring that he has a capital of at least 500,000 euros on the date of application. 500,000 euros is approximately Rs 4.7 crore.
A single applicant will have to fulfill these requirements –
- Have to buy a property worth 375,000 euros or lease a property worth 14,000 euros per year.
- If the property is leased, a contribution of 60,000 euros has to be made to Malta’s economy, which is non-refundable.
- 2,000 euros have to be donated to an NGO.
- An administration fee of 50,000 euros has to be paid. This is also non-refundable.
Tax structure of Malta Golden Visa
RIF Trust’s Nalawade said that Malta also has a favorable tax environment, including a flat tax rate of 15 percent on foreign income, which is attractive for investors. Apart from this, Malta has several double taxation treaties, which help Indian citizens avoid double taxation.
Most Read Articles:
- Indian Railways Rules: Like flights, trains also have a limit on carrying luggage, know it quickly or else you will be fined
- 8th Pay Commission: DA calculation will change! Government may change the base year, then how will you get the money? Know the update
- Credit Card Link UPI: Link your credit card to UPI from home, know step-by-step guide
