Maltese citizenship

It's very much as you say, after 5 years you can apply and your application will be almost certainly rejected. Even if you have been here many years you have very little chance.
As this is Malta you can ,of course, buy Citizenship and passport! You need about €600,000 though.
If you have immediate Maltese ancestry then you have a right to citizenship but if your ancestors are a little further back it may take some time.

Thanks Foxglove! I know about that citizenship programme but it is not for me, common mortal.
Is there any difference when EU citizen and non EU applies for citizenship? What I've read is that it takes much longer for non eu (18years) than for eu (6y) to obtain Maltese citizenship. But I do not see how there is any difference

Many non EU expats never even get the chance to make it to the 'permanent resident' status as they only get residence for 1 year and then on year 5 it is not renewed.
If you have €600,000 then does not matter where you are from!!
You can get away without even living here at all!!

Ray