(Newswire.net — November 8, 2022) — Investment programs are widespread around the world, as they are a great way to obtain foreign investment. Potential investors from India are not deprived of this opportunity, and the cost to obtain a residence permit is affordable. By fulfilling the requirements of the Malta program, Indians get Malta PR for Indian and a lot of new opportunities:
- no need for a visa to stay in Schengen countries;
- favorable system of real estate taxation (not available in most regions);
- no strict requirements regarding the terms of stay in the country.
The Malta PR program allows you to become a resident of a modern country and enjoy comfortable living conditions. Education, medical services, and smart infrastructure are just some of the reasons that motivate Indians to make an application.
List of mandatory requirements for applicants
Investment programs in different countries have different requirements for applicants for citizenship status or Malta permanent residence for Indians. For this reason, it is essential to prepare in advance for the application and get as much information about the offer as possible.
Indians who intend to get Maltese citizenship should keep in mind that they have several requirements:
- Age. Only Indian adults can be a candidate to obtain a passport or a residence permit.
- Health condition. Providing documentation of current health status allows the country to verify that the applicant is not a danger to other residents of Malta.
- Financial situation. Providing bank statements helps to clarify the amount of income of a potential citizen. The minimum amount is 100 thousand euros per year or 500 thousand in the capital.
- The presence of the immovable property. Indians can choose between buying real estate, the cost of which is 320 thousand euros, and a lease agreement provided that the price is more than 12 thousand euros per year.
- Payment of fees for PR in Malta for Indians. The administrative fee is paid one time. The amount of payment is 30 thousand euros.
The final requirement for a potential citizen is an investment in the country. Applicants are encouraged to buy government bonds worth 250 thousand and more as an investment. The minimum term of ownership of the resource is 5 years.
If the conditions listed above on how to get PR in Malta for Indians have been met and documented, it is necessary to collect the documents and execute the application. The total cost of living in Malta depends on the options chosen by the investor. According to the information received from the expert of the agency Immigrant Invest Zlata Erlach, the capital investment pays off within 5 years.
How much time does the procedure take?
Government requirements do not imply permanent residence in Malta, but it is still worth understanding that the processing of the application requires a certain time. Wealthy Indians receive official status documents within 7 months.
The time required to prepare an application for a Malta PR visa for an Indian depends on many factors but often does not exceed 3 weeks. The submitted application is processed for another 3 months. Once you have been approved to continue participating in the program, you will need to spend time buying (renting) real estate. This process usually takes 3 months.
After complying with the above requirements and guidelines, the investor receives an official certificate of his status in the country. The permanent residency card helps to enjoy the benefits of living in Malta and to continue the usual activities.
Why is the Maltese program so attractive?
Obtaining residency is primarily interesting for wealthy Indians who want to make it as easy as possible to conduct their business. Regular trips to other countries to conclude contracts and carry out negotiations become somewhat easier due to the visa-free regime.
It does not take much time to apply for Malta PR for an Indian and the final result is known after 7 months. The investment program of Malta helps to quickly obtain a residence permit or second citizenship.
An attractive taxation system also raises some interest. Since the country has no real estate tax, representatives of the tourism business can save money. Renting a house is a popular service, so there is no difficulty in making extra money.
Problem-free travel to Schengen countries is one of the next advantages. A permanent resident card is used to cross the border without obtaining a visa. In this way, it is possible to save time and meet work obligations on time.