South Africa’s socio economic outlook is deteriorating rapidly. Secure your family’s future with EU Residency Rights via Malta’s Global Residency Program. Find out more below:
Widespread political corruption, ailing state enterprises, a broken education system, looming water shortages and Eskom effectively being bankrupt were ample reasons for concern – before land expropriation related unrests flared up and the South African government decided to implement a National Health Insurance scheme. The latter is bound to drive our country’s doctors abroad and break the economy, to name but two unintended consequences.
Against such an uncertain backdrop, it comes as no surprise that South African families and business owners are looking to hedge their bets by investing abroad. And now is the time to do so, as it will only be a matter of time before the SA government cancelling foreign investment allowance, leaving would-be offshore investor’s financially trapped in SA.
Investing in Malta via the acclaimed Malta Global Residency Program can help you protect your wealth against uncertainty. In addition to giving you the ultimate Rand hedge, investing in an eligible Malta property investment can also give you and your family second country residency in Malta, with a clear path to eventual permanent residency.
The Malta program was launched in June 2013, and has attracted scores of South African investors and added a significant boost to the various economic sectors of the country.
Key Global Residency scheme benefits
• The ultimate Rand hedge: obtain a stable property asset in the EU
• Visa free travel: Travel anywhere within the European Union visa free
• Application speed: an efficient bureaucracy ensures a fast, simple application process
• EU residency rights: Gain long term EU residency rights, and your family members can be included under your application
• No minimum presence requirement: There is no minimum required presence requirement to maintain your Global Residency status
• Attractive tax rate: Taxation of foreign sourced income is done on a remittance basis with a 15% flat fee
• Work in Malta: You can become eligible for work permit entitlement
Broadly speaking, the program’s eligibility requirements include the following:
• You need to purchase a qualifying property (EUR 275,000+, depending on whether you invest in Gozo or Malta). You also have the option to rent property in Malta at €9,600 or at €8,750 annual rent in Gozo and the Southern Region of Malta.
• You would need to be able to prove financial self-sufficiency, by means of verifiable and stable income that is sufficient for maintaining yourself and your dependents, and without recourse to the national social assistance services.
• You need to be in possession of a valid travel document
• You need to obtain health insurance cover in respect of all health costs and risks across the whole EU that would normally be covered for Maltese citizens
• You must be fluent in one of the Maltese official languages (Maltese or English).
• You must be a person of good standing.