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What restrictions exist for renewing the residence card renew under the Maltese Residency & Visa Program?

As a potential investor of the Maltese Residency & Visa Program, I was informed that after the initial five-year residency, one needs to renew the residence card every year. What are the rules for renewal? My son is currently 24 years old, and after the five-year initial residency, if he is still economically dependent on me, will his age be an issue for renewal?

  • Advocates Primei
    July 26, 2018

    With reference to the rules for renewal of the residence permit: Please note that as long as you are still beneficiaries, hold or rent a property and are covered by the insurance, the residence permit is issued. Please note that following the initial five years of annual compliance, the residence permit is renewed for a further five years, not one year. With reference to the dependent becoming economically active: Please note that this will not affect his status and he will continue to benefit from the program.

  • Seed Consultancy
    July 26, 2018

    The residence cards are automatically renewed for an additional five years, provided that the applicants still hold an address in Malta (not necessarily a qualifying property) and also satisfy the health insurance requirement (same as the program). There will be no issues whatsoever with the dependent even if he turns 29 after the initial five years have elapsed and is still economically dependent on the main applicant.

  • Grant Thornton
    July 26, 2018

    The program is renewable annually for the first five years and once every five years thereafter. Once a dependent is eligible at the application stage, the family member remains eligible even after renewal.