Survey Shows Many Malta Golden Visa Recipients Live Abroad

Survey Shows Many Malta Golden Visa Recipients Live Abroad

Key Points

1. A survey by the Daphne Caruana Galizia Foundation found that many beneficiaries of Malta’s Golden Visa Program do not live in Malta.
2. Of 2,500 golden visa applications examined, only 67 applicants purchased property, while the remainder opted to rent.
3. Chinese nationals make up the largest group of program beneficiaries.

According to recent findings from the Maltese NGO, Daphne Caruana Galizia Foundation, a significant number of foreign nationals benefiting from Malta’s Golden Visa Program reside outside the country, despite the program’s impact on local housing and investment. 

This residency program, which grants Maltese residency through financial investment, has attracted many international applicants, especially from China. Analysis by the foundation revealed that of 2,500 applications reviewed, only a small fraction—67—purchased property, with the rest choosing to rent. Most rented at the minimum requirement: €12,000 per year in Malta or €10,000 in Gozo.

Further data from the report highlights that while 5,200 Chinese nationals gained residency in Malta through the Golden Visa Program from 2016 to 2021, only about 2,700 were actually residing in Malta according to the latest population figures.

Besides the Golden Visa Program, Malta also offers a Citizenship by Investment scheme, or “Golden Passport,” providing citizenship in exchange for investments. This program has drawn notable interest, and from 2014 to 2023, 1,532 people acquired Maltese citizenship through this route, as stated by National Security Minister Byron Camilleri. However, both programs have faced scrutiny from the EU Commission, which urges member states to discontinue these programs over concerns of misuse, including potential links to money laundering and tax evasion.

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