A three-year residency visa is available through the Startup Residency Programme
Entrepreneurs from other countries now have the option of obtaining residency in Malta thanks to the country’s new residence scheme. This initiative is the most recent of many plans to attract foreign citizens and financial resources to the country.
A three-year residency visa is available through the Startup Residency Programme for firm founders, co-founders, and core workers, as well as their families. The permit can be renewed for a further five years by the company’s founders and co-founders and for an additional three years by the company’s core personnel. Whatever the case may be, you can be assured that your business is in good hands with us.
Foreign nationals must invest at least EUR 25,000 (PKR 7,819,468) in order to participate in this project. Schengen Visa Info notes that this can be in the form of a tangible investment or fully paid shares of stock.
To participate in this programme, you must physically appear in Malta and pay your taxes there. Those who remain for a period of five years can then seek permanent residency. However, the report notes that businesses whose plans have not been officially approved by Malta Enterprise and whose operations do not comply with the standards set by the local National FDI Screening office would not be able to take advantage of the programme.
Startinmalta.com specifies the following requirements for participation in the programme:
- You should want to grow your company in Malta significantly.
- If you are one of the founders or co-founders of a company that has been in operation for less than seven years, you should make sure that your company has not acquired the activities of another company, distributed profits to its owners, or merged with another company.
- Foreign nationals who are not citizens of the European Union, the European Economic Area (EEA), or Switzerland may apply for the residence programme.
- Participants cannot be citizens of or have significant relations with the following countries: Afghanistan, North Korea, Iran, the Democratic Republic of the Congo, Somalia, South Sudan, Sudan, Syria, Yemen, or Venezuela.
- The programme requires that the company’s creator, co-founder, or key employee be 18 years or older to apply.
- The minimum required investment for a new company registered in Malta is 25,000 Euros (about 7,819,468 Pakistani Rupees). An additional EUR 10,000 (PKR 3,127,787) per co-founder is required if there are more than four people involved in the application for the permit. The maximum number of co-founders who can apply is six, and all of them, plus their dependents, will need to have valid health insurance that provides coverage in Malta.
- Have never been convicted of a felony and are not now facing any criminal charges; pose no danger to national security, public policy, public health, or public interest.
- Must not have had any previous citizenship or residency applications refused, either in Malta or elsewhere.