The Italy vs Malta Golden Visa programs are among the most sought-after residency-by-investment options in Europe. These programs offer individuals a chance to gain residency and enjoy the benefits of living in the EU by making a qualifying investment in either country. The Malta Golden Visa officially known as the Malta Permanent Residence Program, is known for its real estate investment options, while Italy’s program offers a mix of business and philanthropic investments.
Though both programs provide a route to EU residency, they cater to different needs, whether you’re focused on property investment, starting a business, or supporting a charitable cause.
This article will break down the key features of the Italy vs Malta Golden Visas, comparing investment options, benefits, and processes to help you choose the right fit for your goals.
Here is what we will cover:
- Italy Golden Visa Explained
- Malta Golden Visa Explained
- Italy vs. Malta Benefits
- Italy vs Malta Golden Visa Requirements
- Italy and Malta Golden Visa Program Investment Options
- Government Fees for Italy and Malta Residency by Investment Program
- Italy vs Malta Golden Visa Tax Considerations
- How do you choose the Golden Visa Program that is best for you?
- Six Alternative EU Golden Visa Programs
Italy Golden Visa Explained
The Italy Golden Visa, also known as the Italy Investor Visa, is a residency-by-investment program designed for entrepreneurs and high-net-worth individuals. Investment options start at €250,000 in an innovative startup. The visa grants a two-year residency permit, renewable for three more years, with no requirement to live full-time in Italy. Permanent residency is possible after five years, and citizenship after ten. Family members, including spouses and dependent children, are included. Italy offers a €200,000 flat tax on foreign income for new residents, which makes it attractive for global investors.
Malta Golden Visa Explained
The Malta Golden Visa, officially known as the Malta Permanent Residence Program (MPRP), grants permanent residency to non-EU nationals through investment. Applicants can either rent a property for at least €14,000 per year and contribute €60,000 to the government or buy real estate worth at least €375,000 with a reduced €30,000 government contribution. Both options require a €2,000 donation to a Maltese NGO. Residency is granted immediately, and allows Schengen to travel and stay indefinitely. Family members, including grandparents, can be included. Only foreign income remitted to Malta is taxed.
To learn more about the Malta Permanent Residence Program
Feature | Italy Golden Visa | Malta Golden Visa |
Application time | ~3–6 months | ~12 months |
Italy: 22nd (visa-free to 194 countries) | Malta: 28th (visa-free to 188 countries) | |
Time to citizenship | 10 years | The Malta Permanent Residency Program (MPRP) doesn’t directly lead to citizenship and requires 15-20 years of full-time living for eligibility. |
Qualifying investment | €250,000+ (startup), €500,000+ (Italian company), €2M (bonds), €1M (donation) | €60,000 (renting) €30,000 (buying) govt. contribution, €14,000+/year (rent) or €375,000+ (buy), and €2,000 (NGO donation) |
Residency requirement | No minimum stay required | No minimum stay required |
Ability to work | Yes, you can work, start a business, or freelance | Yes, you can work, start a business, or freelance |
Family inclusion | Yes, spouse, children (under 18 or dependent), dependent parents can be included | Yes, spouse, children (under 18 or dependent), dependent parents and grandparents can be included |
Italy vs. Malta Benefits
One of the key differentiating factors when comparing Golden Visas is the benefits investors can gain from them. These are some of the unique benefits that the Malta and Italy Golden Visas offer.
Unique Benefits of the Italy Golden Visa
- Lower investment options: The starting investment is €250,000 (for startups), which is more accessible than Malta’s €375,000 property route.
- Tax perks for high-net-worth individuals: Italy’s €200,000 flat tax on worldwide income is appealing for those with large global earnings.
- Path to citizenship: Italy offers citizenship after 10 years, but Malta offers permanent residency with stricter laws for citizenship.
- Work rights included: Investors can work, freelance, or run a business without needing an extra permit.
To learn more about the Italy Golden Visa
Unique Benefits of the Malta Golden Visa
- Permanent residency from day one: Malta grants lifetime permanent residency immediately.
- Schengen freedom: While both visas offer Schengen travel, Malta’s residency card is valid for five years at a time while Italy’s must be renewed more frequently.
- Favorable tax system: Malta only taxes foreign income if it’s remitted to Malta which is a major advantage for international investors managing offshore income.
- English-speaking environment: Malta’s official languages are Maltese and English, which makes settling in and doing business easier for many expats.
- More flexible family inclusion: Malta’s program covers spouses, dependent children, parents, and grandparents. Italy only includes spouses, dependent children, and dependent parents.
Italy vs Malta Golden Visa Requirements
This is what you need to determine eligibility for both Golden Visa programs.
Malta Golden Visa Eligibility Criteria
To qualify for the Malta Permanent Residence Programme (MPRP), applicants must:- Be at least 18 years old.
- Have a clean criminal record and no security or reputational risks.
- Have a certificate of good health.
- Show a stable source of income.
- Own assets worth at least €500,000 (€150,000 must be financial assets) OR €650,000 (€75,000 must be financial assets).
- Not be involved in any criminal proceedings.
To qualify for the Malta Permanent Residence Programme (MPRP), applicants must:Italy Golden Visa Eligibility Criteria
- To qualify for the Italy Golden Visa, applicants must:
- Be at least 18 years old.
- Make a qualifying investment as required by the government.
- Provide a clean criminal record and a certificate of no pending charges.
- Show proof of funds and complete the investment or donation within 3 months of entering Italy.
- Submit a bank letter confirming compliance with FATF anti-money laundering standards.
- Provide a self-declaration of investment and a board resolution accepting the investment.
- If required, submit a lawyer- or accountant-certified declaration confirming the legal source of funds.
- Show proof of suitable accommodation in Italy (needed when applying for a residence permit).
- Pay the required application fees.
Italy and Malta Golden Visa Program Investment Options
Comparing investment options is important to find the residency by investment program that will not only give you access to European markets but align investment goals.
Italy Golden Visa investment options
To qualify, applicants must choose one of the following investments:
- Startup Investment: Invest €250,000 in shares of an Italian innovative startup already operating in Italy. The official list of startups is available online.
- Company Investment: Invest €500,000 in an Italian company (quoted or non-quoted) that has already filed at least one balance sheet.
- Government Bonds: Invest €2 million in Italian Government Bonds, such as Treasury Certificates (CCT), Zero-coupon Treasury Bonds (CTZ), or Long-term Treasury Bonds (BTP), with a minimum two-year maturity.
- Philanthropic Donation: Donate €1 million to a public interest project in areas like culture, education, scientific research, immigration management, or heritage preservation.
Malta Golden Visa investment options
Applicants must choose one of the following real estate investment routes:
Property rental option:
- Rent a property for at least €14,000 per year (for a minimum of 5 years).
- Pay a €60,000 government contribution.
- Donate €2,000 to a Maltese NGO.
Property purchase option:
- Buy a property worth at least €375,000 in Malta or Gozo (must be held for 5 years).
- Pay a €30,000 government contribution.
- Donate €2,000 to a Maltese NGO.
- The property cannot be rented out or sub-leased during the 5-year period
Investment Option | Italy Golden Visa | Malta Golden Visa |
Real estate purchase | Not available | €375,000 in Malta |
Real estate rental | Not available | €14,000+/year in Malta |
Government bonds | €2 million | Not available |
Investment in companies | €500,000 (Italian company) | Not available |
Investment in startups | €250,000 (innovative startup) | Not available |
Donation to government | Not available | €60,000 (if renting) or €30,000 (if buying property) |
Philanthropic donation | €1 million (donation to public-interest projects) | €2,000 (donation to local NGO) |
Government Fees for Italy and Malta Residency by Investment Program
Each Golden Visa program comes with a additional government fees, these are the fees for the Malta and Italy Golden Visa.
Italy Golden Visa fees:
- Elective Residence Visa Application Fee: €116
- Postal Bulletin Fee (Visa): €30.46
- Postal Bulletin Fee (Residence Permit): €50.00
- Revenue Stamp: €16.00
Malta Golden Visa fees:
- Government Contribution: €50,000 (mandatory)
- Additional Fee for Dependents: €10,000 per dependent (if added after approval)
- Residence Card (Initial 5 Years): €137.50 per person
- Residence Card (After 5 Years): €27.50 per person
Italy vs Malta Golden Visa Tax Considerations
Taxes are a major factor when choosing a “Plan B” country to live in. Here is a side by side of the two programs.
Tax Aspect | Italy Golden Visa | Malta Permanent Residence Programme (MPRP) |
Tax Residency | - To benefit from Italy's special tax regime, individuals must become tax residents, by residing in Italy for more than 183 days per year. | - Permanent residency under the MPRP does not automatically confer tax residency. Individuals must meet specific criteria, such as residing in Malta for more than 183 days in a calendar year, to be considered tax residents. |
Taxation on Foreign Income | - New tax residents can opt for a flat tax of €200,000 annually on all foreign-sourced income, regardless of the amount. This regime is valid for up to 15 years and can be extended to family members for an additional €25,000 per person annually. | - The MPRP is tax neutral; it does not offer specific tax benefits or impose additional tax obligations. Standard Maltese tax rules apply, meaning foreign-sourced income is taxable in Malta only if remitted (brought into) the country. |
Taxation on Local Income | - Income generated within Italy is subject to the standard progressive income tax rates, which can be as high as 43%, plus regional and municipal taxes. | - Income and capital gains arising within Malta are subject to the standard income tax rate, with a maximum rate of 35%. |
Capital Gains Tax | - Capital gains from foreign assets are covered under the flat tax regime and are not subject to additional taxation in Italy. | - Foreign capital gains are not taxed in Malta, regardless of remittance. |
Wealth and Inheritance Tax | - Italy does not impose a wealth tax. Inheritance and gift taxes apply at rates ranging from 4% to 8%, depending on the relationship between the donor and recipient. | - Malta does not levy wealth, inheritance, or estate taxes. However, transfers of immovable property may be subject to stamp duties. |
Non-Domiciled Status Benefits | - Italy offers a favorable tax regime for new residents but does not have a formal non-domiciled status akin to other countries. | - The non-domiciled (non-dom) tax benefits in Malta, such as the flat 15% tax rate on foreign income remitted to Malta, are not available under the MPRP. |
How do you choose the Golden Visa Program that is best for you?
Investment preferences: Consider your budget and investment goals. Look for programs that match your desired investment amount and type (real estate, business, etc.).- Tax benefits: Evaluate the tax structure and how it applies to your income and assets. Some programs offer flat taxes or tax exemptions on foreign income, which may be more beneficial for high-net-worth individuals or those with international assets.
- Residency & citizenship path: Decide whether you want to focus on permanent residency or citizenship. Check the required timeframe for obtaining residency or citizenship, and consider how much time you need to spend in the country.
- Family inclusion: Consider how many family members you wish to include in the application. Some programs allow inclusion of extended family, while others may limit it to spouses and dependent children.
- Lifestyle: Think about the kind of environment you prefer for living. Some countries offer a variety of living options, from busy cities to quiet rural areas, while others may provide a smaller, more intimate setting.
Investment preferences: Consider your budget and investment goals. Look for programs that match your desired investment amount and type (real estate, business, etc.).Six Alternative EU Golden Visa Programs
- Portugal Golden Visa offers residency with a minimum investment of €250,000, including options like venture capital funds or business investments. After five years, investors can apply for citizenship with no minimum stay requirement, of just an average of seven days per year.
- Greece Golden Visa grants permanent residency with investments starting at €250,000 in real estate. There is no minimum stay, but occasional visits are needed. Citizenship may be possible after seven years if specific requirements are met.
- Cyprus Golden Visa provides permanent residency for €300,000 in real estate. It allows free EU travel, with applications processed in three months. Citizenship is available after seven years after certain criteria is met.
- Latvia’s Golden Visa offers residency through investment options like €250,000 in real estate or €50,000 in a local business. Processing takes 2-3 months, and it provides Schengen Zone access.
- Hungary Golden Visa program offers a 10-year renewable permit for €250,000 in government approved real estate. Citizenship is possible after eight years, with a processing time of around eight months.
- Serbia’s Residency by Investment offers a fast residency program with no minimum investment and a process time of about one month. After three years, you can apply for permanent residency, and after six years, citizenship may be possible.
As part of our commitment to providing transparent and reliable services, we are proud to be a licensed agent in Malta, holding the official license number AKM-AGEN. This certification demonstrates our dedication to the highest standards in the investment migration industry and further enhances our ability to offer expert guidance and support to our clients.
How Can Global Citizen Solutions Help You?
Global Citizen Solutions is a boutique migration consultancy firm with years of experience delivering bespoke residence and citizenship by investment solutions for international families. With offices worldwide and an experienced, hands-on team, we have helped hundreds of clients worldwide acquire citizenship, residence visas, or homes while diversifying their portfolios with robust investments.
We guide you from start to finish, taking you beyond your citizenship or residency by investment application.
Frequently Asked Questions about Italy vs Malta Golden Visa
What is the main difference between the Italy and Malta Golden Visa programs?
Italy’s Golden Visa offers residency through various investment options like startups and donations, while Malta’s program offers permanent residence through real estate or government contributions, with a quicker process.
Can I apply for citizenship through either Golden Visa program?
Italy offers citizenship after 10 years of legal residency, while Malta allows citizenship after a number of years, you must establish strong ties to the country.
How long does the application process take for both programs?
The Italy Golden Visa typically takes around 2-3 months, whereas the Malta Permanent Residence Program takes 12 months for approval.
What are the investment requirements for both programs?
For Italy, the investment options range from €250,000 for startups to €2M for bonds. Malta requires a €375,000 property purchase or €14,000 per year for renting, along with government contributions.
Do both Golden Visa programs allow family inclusion?
Yes, both programs allow the inclusion of spouses, children under 18 (or dependent), and dependent parents in the application.
Are there minimum stay requirements for the Golden Visa programs?
Neither Italy nor Malta requires a minimum stay for residency. However, maintaining residency may require periodic visits to the respective countries.
Can I work in both Italy and Malta with the Golden Visa?
Yes, both Italy and Malta Golden Visa holders can work, start a business, or freelance within their respective countries.
