UGLOBAL . COM 19 been a success since its inception , especially amongst the digital nomad community from the UK and the US .
By fulfilling the conditions of this program , namely being a fit and proper individual , being able to work remotely from Malta , earning a minimum salary of € 2,700 per month ( gross ) and owning or renting qualifying real estate in Malta , the main applicant along with the dependents ( if any ) would be granted a residence card to be renewed every year , for a maximum of three years .
The application process typically takes about a month and a half to be completed , after which the main applicant and any dependents would be required to visit Malta for the collection of their biometrics and the issuance of their Maltese residence card . Such residence card may be used to travel visa-free to any country within the Schengen Area for a maximum of three months within a six-month period . startups to grow and flourish in Malta , while allowing such businesses to access the vibrant European Union market , potentially scaling up and expanding further in other European Union countries . Moreover , the founders and core employees will have the right to settle and work from Malta , along with their families .
By expanding its residency options , Malta is reaffirming its position as a strong jurisdiction for permanent relocation or second residency . It has been witnessed over the past few years that more and more High Net-Worth Individuals and their families , not only from developing countries but also from countries such as the US , the UK and other European jurisdictions , are choosing Malta as their second home . With geopolitical instability and health crisis concerns all over the world , Malta remains a safe haven to invest in and an excellent contingency plan for the future .
STARTUP RESIDENCE PROGRAMME
The Startup Residence Programme ( SRP ) is the latest Malta residency program , launched in October 2022 and managed by Malta Enterprise in conjunction with Residency Malta Agency . This program is specifically targeted at startups / scaleups and their founders and core employees , including their direct family members .
This program would be accessible to non-EU startups and scaleups that are less than 7 years old , with a minimum investment or paid share capital of € 25,000 . Malta Enterprise , which is Malta ’ s economic development agency tasked with attracting foreign direct investment to Malta , would initially be reviewing the startup ’ s business plan and financial projections to ensure that only the most innovative startups would be able to proceed with their application via this route . Malta Enterprise can also provide various grants and incentives to eligible startups and will be monitoring the financial progress of the startup bi-annually .
On the one hand , the founders and / or co-founders of the qualifying startup as well as their direct family members , would benefit from three initial years of residency and work rights in Malta , renewable for an additional five years . On the other hand , the core employees of the startup – earning at least € 30,000 annually – and their direct family members , would also benefit from three initial years of residency and work rights in Malta , renewable for an additional three years . Such qualifying employees may obtain Maltese residency once the founder ( s )/ co-founder ( s )’ s application is finalized and approved .
The application process is expected to take about three months to be completed , after which the main applicant and any dependents would be required to visit Malta for the collection of their biometrics and the issuance of their Maltese residence card . Such residence card may be used to travel visa-free to any country within the Schengen Area for a maximum of three months within a six-month period .
The SRP is expected to be successful among the startup business community as it offers a great opportunity for
CHARLOTTE BRUN
Charlotte Brun is an associate business developer at Vistra ( Malta ) Limited . She first joined Vistra in 2018 as a residence and citizenship officer . Her role was to handhold residence and citizenship by investment applicants and guide her clients through their applications . With experience in dealing with ultra-high-net-worth families , she took care of all her clients ’ requirements while in Malta . Brun studied marketing communications in Paris , France , and Dublin , Ireland . She was part of the communications team in an insurance brokers company in Geneva , Switzerland , before choosing to relocate to Malta in 2016 , where she earned a master ’ s degree from the University of Malta .