New residency scheme next month.

So it would be easier only for investors? And how do they define one?

oscar_PL wrote:

So it would be easier only for investors? And how do they define one?

I din't read it like that as it states.........
he first draft of a citizenship and visa agency that will, among others, provide a fast track approach for foreign investors.

for the vast majority of EU citizens this is irrelevant - it will be aimed at attracting wealthy non-EU citizens

Why irrelevant? Because if this is being done to make a 'level playing field' then by logical extension this will be of some help to everyone and that will include EU members.

this is a replacement for the HNWI scheme, which was a replacement for the permanent residence (PR) scheme, neither of which had any appeal to the vast percentage of EU citizens.

The schemes appeal will be to those who don't have a right to live in Malta - EU citizens already have that right.

You may be right but I still think information such as this  belongs on here as not all members are EU and some may be prospective investors. Just shows how we each interpret information in our own ways

I also found this quote 'Muscat said that government was to revamp the system how residency permits, visas and ID cards are issued to make it more expedite.'

http://www.maltatoday.com.mt/en/newsdet … h-20130515

I agree it should be on here, absolutely, but just wanted to clarify what this is, and what it isn't, as some might think this is a replacement for the eResidency card

georgeingozo wrote:

I agree it should be on here, absolutely, but just wanted to clarify what this is, and what it isn't, as some might think this is a replacement for the eResidency card

Fair comment
I wonder how long this will actually take to implement?

The new residency scheme ? should be quick - presumably they have already got a plan to implement, and it might only attract a hundred people a year.

"revamp the system how residency permits, visas and ID cards are issued to make it more expedite." now thats a different matter - tens of thousands of people - new plans can be implemented quickly as well, but the backlog is so big

I'd guess the new scheme will be similar to HNWI, just not as onerous on the minimum financial requirements (which were very high)

it will largely depend on what changes JM makes and how simple he wants to make it.....

toonarmy9752 wrote:

it will largely depend on what changes JM makes and how simple he wants to make it.....

Presumably pitched somewhere between PR scheme and HNWI scheme. The whole purpose is to attract people who will make a significant economic contribution to Malta, and in exchange will get permanent residency status.

So people setting up significant businesses, or people with significant income/capital.

i was actually referring to the ordinary "joe dokes" e-residency scheme and the changes that he is expected to make. altho to be fair it is just as apt for the new PR/HNWI scheme i suppose.

toonarmy9752 wrote:

i was actually referring to the ordinary "joe dokes" e-residency scheme and the changes that he is expected to make.

I don't see them making significant changes ( other than procedural ones)to the eResidence system as they are largely defined by EU law.

"All" they need to do is allocate significantly more people to the department.