What if I change residences during my Malta citizenship application period?

Answers

• 

  Valentina Sammut

  BIZ Consult Limited

  April 17, 2019

  To be eligible for Maltese citizenship under the Individual Investor Program of the republic of Malta, you must lease property in Malta for a minimum value of 16,000/12,000 per annum, or purchase property for a minimum value of 350,000. The property has to be held by you for a minimum period of five years. If you would like to sell property you need to lease a new one for a minimum value of 16,000/12,000 per annum. It is not possible to buy property for a value less than 350,000 or 280,000 (south of Malta or Gozo).

• 

  James Scerri Worley

  Advocates Primei

  April 17, 2019

  Under the MIIP, one can change the qualifying residence. However, the new residence still needs to meet the minimum amount for either the purchase or the rental option. One can also shift from rental properties to purchase properties or vice versa.

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  Joseph Portelli

  RSM Malta

  April 23, 2019

  A successful IIP applicant is entitled to change his qualifying property. However, he must keep into consideration that for the first five years from the issuance of the passport, he must still comply with the minimum residential property requirements. Henceforth, this entails the fact that in order to change residence, the potential new qualifying property must either be worth more than 350,000 euros or be leased at a minimum of 16,000. When the five-year annual compliance period has expired, the individual is free to transfer or sell the qualifying property without any restrictions.