More Turkish Entrepreneurs seek Second Residency in the European Island of Malta

Malta offers various immigration programmes for entrepreneurs, freelancers, investors and retirees

Malta offers more than sun, beaches and English language schools. Malta has become a popular destination for Turkish businesses and for families looking for a permanent residence permit in Europe. Malta offers a favourable personal tax system and attractive immigration laws for entrepreneurs, retirees, investors and digital nomads.

Malta is known to Turks for its beaches, its historical landmarks and for its English language schools.  Over the last decades, several Turkish entrepreneurs have used Malta as a European Union base for their businesses, a stepping-stone into the European market.  Over the years, more and more Turkish families have obtained Permanent Residency permits in Malta and some have also naturalized as Maltese citizens as a result of significant investments made in the Maltese economy.  Now Malta has introduced a new addition to its business promotion incentives: the Nomad Residence Permit.

Nomad Residence Permits

The Nomad Residence Permit (NRP) is aimed at individuals who want to move to Malta to work remotely from the comfort of their chosen accommodation in Malta.   This Nomad Residence programme enables foreigners to retain their current employment with an employer based in another country whilst legally residing in Malta. The programme is open to individuals who can work remotely using telecommunication technologies.

The Nomad Residence Programme is open only to non-EU nationals who prove that they can work remotely. Applicants must prove that they fall under one the following categories:

• Employed and registered with a foreign employer and have a contract of work, or
• Conduct business activities for a company registered outside of Malta and of which the applicant is a partner or a shareholder in, or
• Offer freelance or consulting services, mostly to clients whose permanent establishments are in a foreign country, and with whom the applicant has contracts.

Applicants for a Malta Nomad Residence Permit will undergo background verification and must have a monthly income threshold of €2,700 gross of tax and a health insurance policy covering all risks in Malta.   Nomads must rent or purchase property in Malta.

Permanent Residence Permits

The Malta Permanent Residence Programme is an attractive residence programme granting a permanent residence permit in a European country that is also part of the Schengen Area.  Turkish families usually look for European countries that have a mild climate, a high standard of living, a safe environment for younger and older members of the family.  Malta ticks all the boxes for an attractive permanent residence jurisdiction and occupies the highest positions in respected international indices for quality living and retirement.

Applicants for Maltese Permanent Residence do not need to make an investment before applying and all capital outlays are due only at the end of the immigration process.  Upon approval of the residence application, families are required to make a one-time contribution to the government of Malta of €70,000 that includes the main applicant, the spouse, and all unmarried financially dependent children with no age limitation.  Parents and grand parents of both sides of the family can be added to the family application at an additional government fee of €7,500.  Applicants must show that they have purchased a property in Malta of at least €300,000 which must be held for at least 5 years.

Families that do not wish to immediately buy property in Malta are allowed to rent for the first 5 years, but their one-time government fee is higher at €100,000.

Residence Permits leading to Citizenship.

Malta allows residents rendering exceptional services to Malta may be eligible for naturalisation as Maltese citizens.  Investors holding legal residence in Malta for 3 years may apply for Maltese citizenship after the expiry of this residence period.  They must pass a detailed examination of their wealth, the background and their reputation, and their health condition. Upon approval, a one-time direct investment is payable to a National Social and Development Fund of the Government of Malta and may proceed to the naturalisation process. Originally, Malta offered Maltese Citizenship by Investment under the Individual Investor Programme.