Unfortunately, for the purposes of the Maltese CBI program, you would need to show evidence of an amount paid of at least 350,000, notwithstanding the market value or the rent payments previously made.
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What are the requirements of real estate investment and retainment under Malta's citizenship-by-investment program?
When we first participated in the CBI program, we rented a residence for 20,000 euros annually. Now we want to purchase this same property for 320,000 euros. We were told that under CBI program, it is OK to switch from renting to purchasing, but the required purchasing price is 350,000 euros. Due to the fact that we are purchasing the exact same property that we rented at the first place, and the initial two year's rent plus the current sales price (360,000 euros) exceeds what is required (350,000 euros), will we still be in compliance with the CBI requirements?
Answers
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No, the rent paid previously is not deemed as part of the price and value of the property being bought. Find a property which satisfies the minimum.
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Acquisition of real estate with a minimum value of 350,000 euros to be held for at least five years. Or lease of a residential immovable property in Malta for a period of five years, at an annual rent of at least 16,000. The property can be more than the minimum threshold, but not less.
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