The Malta & Greece Permanent Residency Programmes - A comparison
Malta and Greece are two of the few European countries offering programmes for non-EU residents to acquire residency by means of investment, and the only two which offer permanent residency from day one. Such permanent residency programmes are also known as the Malta Golden Visa and Greece Golden Visa. With the various benefits inherent to European residency, and the advantages of being resident both in Malta as well as in Greece, both schemes offer an attractive alternative to high net worth individuals to acquire residency within Europe.
Maltese permanent residency may be obtained through the Malta Permanent Residence Programme. Established through Legal notice 288 of 2015, it offers residency in the Maltese Islands subject to eligibility as well as fulfilment of the requirements laid out by the law. The Greek Golden Visa Programme was established in 2014 through the Immigration and Social Integration Code. With a similar objective to the Maltese residency programme, non-EU nationals are offered a route to obtaining Greek residency by investment.
Although similar in nature, some key differences exist between the Maltese and Greek residency by investment options.
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The Malta Permanent Residence Programme (MPRP)
Malta's Permanent Residence Programme (MPRP) offers an attractive pathway to permanent residency for non-EU nationals, providing the benefits of living in an EU member state and access to the Schengen Area. The programme requires applicants to meet specific investment criteria, including a government contribution, a property investment or rental, and a charitable donation to a registered organization. One of the key advantages of the MPRP is that applicants have the flexibility to either purchase or rent property, making it an appealing option for those who may not want to commit to buying real estate.
Malta Golden Visa Investment Options
To be eligible for Malta's Permanent Residence Programme (MPRP), applicants must fulfill all of the three key requirements.
First, they must pay a one-time application fee of €110,000 if they are renting property or €80,000 if purchasing property. An additional fee of €10,000 applies for each dependent included in the application.
Second, applicants must either rent a property in Malta for at least €14,000 per year or purchase a property for a minimum of €375,000. The property must be kept for a minimum period of 5 years.
Third, applicants are required to make a donation of €2,000 to a local registered philanthropic, cultural, sports, scientific, animal welfare, or artistic NGO.
In addition to these financial requirements, applicants must also declare that they have assets valued at a minimum of €500,000, with at least €150,000 in financial assets. Alternatively, applicants may meet the asset requirement by declaring a total value of not less than €650,000, with a minimum of €75,000 in financial assets. These criteria ensure that applicants are financially stable and capable of contributing to the local economy while benefiting from the permanent residency status in Malta.
Benefits of the Malta Golden Visa
The Greek Golden Visa Programme
Similarly, to the MPRP, the Greek Golden Visa Programme offers an option for residency by investment in a Mediterranean, European country for non-EU nationals and their dependents. Offering ease of relocation to investors of good standing and repute, the programme provides an avenue for acquiring residence in Greece, given that applicants are eligible and fulfil the necessary requirements. As with the MPRP, applicants must be fit and proper and subject to due diligence prior to the approval of their application, however, in contrast with the MPRP, the investment options are slightly more flexible.
The Greece Golden Visa program is a highly sought-after residence-by-investment initiative, offering a streamlined pathway to European residency. Launched in 2013, it has become one of the most affordable and flexible programs in Europe, enabling investors and their families to secure residency rights in Greece and enjoy visa-free travel across the Schengen Zone.
Greek Golden Visa Investment Options
The program is centered around real estate investments, with tiered options starting at €250,000, making it accessible to a wide range of investors. In addition to its affordability, the Greece Golden Visa does not require a minimum stay, providing unparalleled flexibility for those seeking a second residence or a foothold in Europe.
From its rich cultural heritage to its vibrant lifestyle and strategic location, Greece offers an attractive destination for investors and their families to live, work, or simply enjoy the benefits of European residency.
Greece offers one of Europe's most cost-effective "Golden Visa" residence programs, allowing investors and their families to obtain a residence permit through real estate investments. The program features different tiers based on the property's location and value:
€250,000 Real Estate Investment: When investing in commercial properties converted to residential use.
€400,000 Real Estate Investment: When investing in prominent regions such as Halkidiki and the Peloponnese.
€800,000 Real Estate Investment: When investing in high-demand areas like Attica, Thessaloniki, Crete, Rhodes, Mykonos, Santorini, and other Greek islands with populations exceeding 3,100 residents.
Benefits of the Greece Golden Visa
Affordable Investment Threshold
The program’s entry-level investment of €250,000 for real estate makes it one of the most cost-effective residence-by-investment options in Europe.
Residency for the Whole Family
The visa extends to the investor’s spouse, children under 21, and both the investor's and spouse's parents, allowing for a multi-generational benefit.
Access to the Schengen Zone
Holders of the Greece Golden Visa can enjoy visa-free travel across the Schengen Area, covering 29 European countries.
No Minimum Stay Requirement
Unlike some other programs, Greece does not require applicants to reside in the country to maintain their residency, offering maximum flexibility.
Favorable Tax Regime
Greece offers attractive tax benefits, including a flat tax rate for foreign retirees and other incentives for individuals relocating to the country.
High Quality of Life
Greece is renowned for its Mediterranean climate, stunning landscapes, rich cultural history, and a laid-back lifestyle, making it a desirable place to live or vacation.
Opportunities for Investment Returns
Greece’s thriving real estate market provides opportunities for property appreciation and rental income, particularly in high-demand areas like Athens, Santorini, and Mykonos.
Secure Environment
Greece is considered a safe and stable country, with a welcoming community and a rich expatriate presence.
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Malta Permanent Residence Programme and the Greek Golden Visa Programme: A Comparison
The Malta Golden Visa and the Greece Golden Visa both grant permanent residence in their respective countries, allowing visa-free travel across the Schengen Area. However, they differ in key aspects. In Malta, applicants have the flexibility to either buy or rent property as part of the qualifying criteria, while in Greece, only property purchases are allowed, with a minimum investment of €500,000 in certain areas. Malta offers a significant advantage for families, as dependents included in the application retain their residence for life, whereas in Greece, children lose their residency status once they turn 21. Additionally, properties purchased under Malta’s programme cannot be rented out, ensuring that they remain primarily for the applicant’s use. In contrast, Greece allows investors to rent out their properties, offering an additional income stream for participants. These differences make each programme appealing to different types of investors depending on their priorities and long-term goals.
Apply for the Malta & Greece Residence Programmes
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