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Can a purchased boat count as a residence for my Maltese citizenship application?

I have a boat worth about 500,000 euros that I purchased in Malta and it is based in Malta. I rent space in a harbor for it, but could this count toward my residency requirement? Can the boat count as a residence, considering I live on it full time?

  • BIZ Consult Limited
    December 01, 2018

    The MIIP program requires the person to have a place of residence in Malta. The boat can’t be accepted for this purpose.

  • Grant Thornton
    December 01, 2018

    Unfortunately, the rules prescribe a requirement for immoveable property.

  • December 03, 2018

    In order to qualify for the Malta Individual Investment Program the applicant must acquire immovable residential property in Malta worth at least 350,000 euros. Alternatively, the applicant may opt to lease an immovable residential property in Malta of an annual rent no less than 16,000 euros. A boat is not counted as an immovable residential property, so therefore it cannot count toward your residency requirement.