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Permanent Residence Scheme suspended !

ricky

According to an article in the Sunday Times of Malta the Permanent Residence Scheme has been suspended as of 4 th January 2011 due to alleged abuse of the program.

The scheme was designed to attract wealthy foreigners to take up residence in Malta and buy or rent property with certain conditions applied.

It is not clear if and when the scheme will be opened again.

I will keep you informed.

Regards
Ricky

See also

Living in Malta: the °µÍø½ûÇø guideMoving to Malta, have couple questionsQuestion about Form J - Economic Self SufficiencyTaxes for °µÍø½ûÇøs in MaltaRental agreement and utility bills
georgeingozo

a link is always helpful :-)

georgeingozo

suspended for non-EU citizens only

me3512

no love for the °µÍø½ûÇøs....

georgeingozo

What do you expect, they've been conquered by most of them over the centuries :-)

ricky

Hi George,

Thanks for adding on that important detail that it has only been suspended for non-EU nationals.

Ricky

duffydoodle

Does this mean I've waited too long or is it a rumor?  Duffy

ricky

Hi Duffy,

I'm sorry to say that it is not a rumour. If you were going to apply for Permanent Residency under this scheme then you should follow the blog and the news for updates on this issue.

It may well be opened again with conditions in the future.

Regards
Ricky

djinn

Indeed, it is not a rumour. It affects non EU citizens only. I believe it includes also those whose application file was being processed, but had not been approved by January 4th.

KTS

Does anyone know specifics as to why?  I had read that it was due to long term residents (over 5 years I guess?) trying to get benefits (medical?).  I didn't think benefits were available at all if you were on this scheme which is why they require you to have private medical insurance.

We are non-EU citizens and have been here on this scheme since 2009 so I have been following any details on it.  We do live here as residents and have to renew our 'residence permit' annually.  I hope that renewal won't be affected by this decision.  I do wonder what will happen when we hit the 5 year mark though.

duffydoodle2

Hello,

I am still "Duffy" but forgot my password, which is encrypted in my phone so I am reregistering.  I originally registered in June 2010 and had planned to come look around this summer.

WHY?????

How "rich" is rich?  I am not Paris Hilton, but I have enough money to live without being a burden to the government even without working, although I would like to work.

For personal reasons, I had planned to wait about two years.  I have always loved the idea of Malta - guess I waited too long.

Duffy

georgeingozo

duffydoodle2 wrote:

I have enough money to live without being a burden to the government even without working, although I would like to work.


If you use the Permanent Residence Scheme you are not allowed to work in Malta

I've PM'd you

Darlin

Hello
I am a non EU citizen and I am very concerned about this new change in the PR scheme, I hope this won't affect those who already got their permits.
Please keep this thread updated.
Thanks
Darlin

georgeingozo

It appears it only affects those who have applications outstanding (or wanting to make an application). Even for those people, I wouldn't worry - this will soon be sorted out

thetragicallyflip

Hi! I'm new to the forum and this latest development is worrying. I have family living in Malta under the non-Eu permanent residence scheme.

What concerns me is if  a revised scheme is introduced new conditions  will apply in future years to all PRs - even those current permit holders. (eg amount to be remitted to Malta annually OR Tax amount etc. could dramatically increase.)

Residency can't be revoked but might become too expensive to maintain except for very wealthy people - the ones the Maltese wish to keep in the scheme.

All the info available on this is very sketchy and I might be over-analyzing. I tend to do that unfortunately...

I will certainly keep looking at this topic for more info.

ricky

Hi Tragicalflip ? -)))

Welcome to the blog.

Generally speaking terms and conditions of those already accepted into the scheme should not change.

As to the future scheme rules we will have to wait and see.

Regards
Ricky

hammersfan

I'm assuming that username is inspired by The Tragically Hip, a very fine Canadian band imo.

That's aboot all I can add to this discussion.

Tim

thetragicallyflip

Thanks for the welcome Ricky!

Tim's got it! :) Great band.

Darlin

thetragicallyflip wrote:

Hi! I'm new to the forum and this latest development is worrying. I have family living in Malta under the non-Eu permanent residence scheme.

What concerns me is if  a revised scheme is introduced new conditions  will apply in future years to all PRs - even those current permit holders. (eg amount to be remitted to Malta annually OR Tax amount etc. could dramatically increase.)

Residency can't be revoked but might become too expensive to maintain except for very wealthy people - the ones the Maltese wish to keep in the scheme.

All the info available on this is very sketchy and I might be over-analyzing. I tend to do that unfortunately...

I will certainly keep looking at this topic for more info.


Hello thetragicallyflip and welcome to the forum.
This is what I heared yesterday, they are planning to introduce new rules for current permit holders of NON-EU countries :(

georgeingozo

The core issue is that once someone has lived in Malta for 5 years, they can claim extra "things", which means a non-EU citizen theoretically only needs Permanent Residency for 5 years, and can then switch to a cheaper residency option, thus negating one of the big reasons for  Malta having PR , namely the € 4,200 odd min tax bill. I suspect the new rules will be aimed at eliminating that loophole, and probably thats all.

me3512

hmmmmmmmmmmm   the tragicallyhip    I saw them open at First avenue in minneapolis for george clinton and the pfunk allstarts more years ago than I would like to admit...    Of course "Dumpsterjuice" was playing at the 7th street entry that night....