Patricia Casaburi
Malta vs. Spain Golden Visa both offer European residency through investment, but they differ in keyways. Malta immediately grants permanent residence, requiring a real estate investment or rental, government contributions, and donations. Spain’s Golden Visa requires a €500,000 real estate investment or other financial assets but only provides a temporary residence, which must be renewed before leading to citizenship.
Additionally, Spain’s Golden Visa will end on April 3, 2025, but there are alternative visas that still provide Spanish residency, along with other European Golden Visa options.
This article compares both Malta and Spain Golden Visa programs and explores other EU residency by investment alternatives for investors.
This is what will be covered:
What is the Spain Golden Visa?
The Spain Golden Visa is a residency by investment program that allows non-EU nationals to gain residency in Spain by making significant investments, such as purchasing real estate worth at least €500,000 or investing €1 million in Spanish businesses or government bonds. It grants residency to the investor and their immediate family.
However, the program is set to end on 3 April 2025, so interested applicants must submit their applications before this deadline to take advantage of the opportunity. After obtaining the visa, investors can apply for permanent residency after five years and citizenship after ten years.
What is the Malta Golden Visa?
The Malta Permanent Residence Program (MPRP) is a residency by investment program that combines real estate investments, government contributions, and philanthropic donations. It offers permanent residency in Malta with no minimum stay requirements.
The program benefits up to four generations of family members, including the investor, spouse, dependent children, parents, and grandparents. Additionally, the residence permit allows visa-free travel within the Schengen Area for up to 90 days within a 180-day period.
Spain vs Malta Golden Visa Comparison
Feature | Spain Golden Visa | Malta Permanent Residence Program (MPRP) |
Application Time | ~2–3 months | ~4–6 months |
Key requirements | - Must be over 18 years of age - Must make a qualifying investment as stipulated by the government. - Must have a clean criminal record. - Must have valid public or private health insurance | - Must be 18+ - Must have a medical certificate required - Must have assets worth €500,000+ (€150,000 in financial assets) or €650,000+ (€75,000 in financial assets) - A stable source of income is required - Clean criminal record |
Spain: 20th (visa-free to 194 countries) | Malta: 28th (visa-free to 188 countries) | |
Time to Citizenship | 10 years of residency required | The Malta Permanent Residency Program (MPRP) doesn’t directly lead to citizenship and requires 15-20 years of full-time living for eligibility. |
Type of Residence | Temporary residence permit (valid for three year, then renewable in 5-year periods) | Permanent residence from the start |
Minimum qualifying investment | €500,000+ in real estate | €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 |
Need to Relocate? | No relocation not required | No relocation not required |
Work Permission | Yes, you can work, start a business, or freelance | Yes, you can work, start a business, or freelance |
Tax Residency | Not automatically a tax resident unless staying 183+ days/year | Not automatically a tax resident unless staying 183+ days/year |
Family Inclusion | Spouse, children (under 18 or dependent), dependent parents | Spouse, children (under 18 or dependent), dependent parents and grandparents |
Visa-Free Schengen Access | Yes, 90 out of 180 days | Yes, 90 out of 180 days |
To learn more about the Malta Permanent Residence Program
Malta vs Spain Golden Visa Benefits
These are some of the standout benefits of the Malta and Spain Golden Visa programs.
Spain Golden Visa unique benefits
- Work and business rights: Allows the holder to work, start a business, or freelance in Spain.
- Schengen Area access: Enables visa-free travel within the Schengen Area.
- Flexible residency: No minimum stay requirement; only need to visit Spain once every two years.
- Path to citizenship: Eligible for Spanish citizenship after 10 years of residency.
- Family inclusion: Allows family members (spouse, children, dependent parents) to join the main applicant.
Malta Golden Visa unique benefits
- Permanent residency: Provides permanent residency from the start.
- Lower investment: Investment options starting from €375,000 (if buying property).
- Generational benefits: Residency extends to four generations.
- Schengen Area Access: Visa-free travel within the Schengen Area for up to 90 days.
- No Minimum Stay: No minimum stay requirement for residency.
Spain Vs Malta Golden Visa Investment Options
Here is a comparison of investment options offered by Malta Permanent residence Program and the Spain Golden Visa:
Investment Option | Spain Golden Visa | Malta Golden Visa |
Real estate purchase | €500,000+ | €375,000 in Malta |
Real estate rental | Not available | €14,000+/year in Malta |
Government bonds | €2 million | Not available |
Investment in companies | €1 million (in Spanish companies or funds) | Not available |
Investment in startups | €1 million (in Spanish venture capital funds) | Not available |
Donation to government | Not available | €60,000 (if renting) or €30,000 (if buying property) |
Philanthropic donation | Not available | €2,000 (donation to local NGO) |
Malta vs Spain Taxes
Here is an overview of the taxes in Malta and Spain.
Tax Type | Spain | Malta |
Foreign Income Tax | Investors are taxed on worldwide income if residing in Spain for over 183 days/year. | Non-residents are only taxed on income generated within Malta. Residents are taxed on worldwide income. |
Personal Income Tax | Non-residents are taxed at 24% on income generated in Spain. Residents pay progressive rates. | Resident individuals are taxed at progressive rates from 0% to 35% depending on income. Non-residents are only taxed on Malta-sourced income. |
Capital Gains Tax | 19% for amounts up to €6,000, with higher rates for larger gains. | 0% for gains on the sale of property held for more than 5 years. Taxed at 12% on any other capital gains. |
Investment Income Tax | 21% on income from €6,000 to €50,000, 23% for €50,000 to €200,000, 27% for €200,000 to €300,000, and 28% for income above €300,000. | 15% on dividends, interest, and rental income for residents. Non-residents are only taxed on Malta-based income. |
Property Tax | Annual tax between 0.4% and 1.3%, depending on property value and location. | Property tax is low, with an annual stamp duty of 5% on the purchase price of real estate. |
Inheritance & Gift Tax | Tax rates vary depending on relationship and asset value. Some regions (CCAA) have different rates. | Inheritance and gift taxes are low or non-existent for direct family members. |
What is the Spain Golden Visa alternative?
The Spain Non-Lucrative Visa is an alternative to the Spanish Golden Visa for those who want to live in Spain without making a large investment. The Spain Non-Lucrative Visa is a residency permit for non-EU nationals who want to live in Spain without working. Unlike the Spain Golden Visa, which allows residency with no stay requirement, the Non-Lucrative Visa requires full relocation, meaning applicants must live in Spain for at least 183 days per year and become tax residents. It is ideal for retirees, passive income earners, and financially independent individuals who can support themselves without employment in Spain.
To learn more about the Spain Non-Lucrative Visa
Feature | Spain Non-Lucrative Visa |
Investment Requirement | No investment required – must show passive income |
Work Permission | No – cannot work in Spain |
Minimum Income | ~€28,800 per year (€2,400/month) for the main applicant |
Residency Requirement | Must stay in Spain at least 183 days per year |
Need to Relocate | Yes, full relocation is required |
Path to Citizenship | Eligible after 10 years of residency |
Who it’s Best For | Retirees and financially independent individuals who want to fully relocate |
Six Other European Golden Visa Alternatives
Europe has a several Golden Visas to choose from and each have various investment options that cater to different investors and their financial goals.
1. Portugal Golden Visa
Portugal’s Golden Visa program offers residency to investors and their families through various investment options, with a minimum investment of €250,000. Investment options include a venture capital funds, investment in businesses or research, or contributions to cultural or scientific projects. The program provides visa-free access to the Schengen Area, and after five years of residency, applicants may apply for citizenship. Applicants only need to visit Portugal for an average of seven days per year to meet the minimum stay requirement.
2. Greece Golden Visa
The Greece Golden Visa grants permanent residency to non-EU investors and their families in exchange for an investment. The primary option is to invest €250,000 in real estate or €400,000 in business or government bonds. There is no minimum stay requirement to maintain residency, though occasional visits may be needed. The program also provides visa-free travel within the Schengen Area. Processing takes six to eight weeks. Citizenship is possible after seven years of legal residency.
3. Cyprus Golden Visa
The Cyprus Golden Visa grants permanent residency to investors and their families without requiring them to live there. To qualify, you must invest €300,000 in real estate. The visa allows free travel within the EU, and applications are processed in about three months. While citizenship is possible, it requires seven years of legal residency and meeting additional criteria.
4. Latvia Golden Visa
The Latvia Golden Visa provides non-EU investors with a route to residency through investment. The program offers flexible investment options, including a minimum €250,000 real estate purchase, a €50,000 investment in a Latvian company that creates jobs, One of its key advantages is the fast-processing time of two to three months.
5. Hungary Golden Visa
The Hungarian Golden Visa, or Guest Investor Program (GIP), offers non-EU investors a 10-year renewable residence permit with visa-free travel in the Schengen Zone. Investors can include spouses, minor children, and dependent parents in their applications. After eight years of residency, applicants may qualify for Hungarian citizenship. But, to apply, investors must choose from three options: €250,000 in a state-approved real estate fund, or a €1 million donation to a Hungarian university for research or the arts.
6. Serbia’s residency by investment
Serbia’s residency by investment program is a quick and easy way for foreign entrepreneurs to live and work in the country. There is no minimum investment, and the process takes about a month. Residency permits last up to three years and can include family members. After three years, you can apply for permanent residency, and after six years, you may qualify for citizenship.
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 the Malta vs Spain Golden Visa
What is the difference between the Malta and Spain Golden Visa?
Malta grants permanent residence with no renewal requirements, while Spain offers a renewable residence permit that leads to citizenship after 10 years. Malta has more flexible investment options, while Spain mainly requires real estate investment.
Is Spain’s Golden Visa ending?
Yes, Spain will stop accepting new Golden Visa applications after April 3, 2025. Existing holders can still renew their permits, but no new investors will be eligible under this program.
Can I still get Spanish residency after the Golden Visa ends?
Yes, options like the Spain Non-Lucrative Visa (for retirees and financially independent individuals) and the Entrepreneur Visa (for business investors) will remain available.
Which Golden Visa program is better for long-term EU residency?
Malta provides permanent residence from day one, while Spain’s Golden Visa requires renewals every three years but allows citizenship after 10 years. If your goal is EU citizenship, Spain may be the better choice.
What are the investment options for each program?
Malta: A mix of a government contribution (€60,000+), real estate purchase (€375,000+) or rental (€14,000+/year), and a small NGO donation (€2,000).
Spain: A €500,000 real estate investment, or alternatives like €2 million in public debt, €1 million in stocks, funds, or bank deposits, or investment in a business of public interest.
Do I need to relocate to qualify for the Spain Non-Lucrative Visa?
Yes, the Spain Non-Lucrative Visa requires relocation. You must live in Spain for at least 183 days per year, making you a tax resident. This visa is for retirees or financially independent individuals who can support themselves without working in Spain.
Can I work in Spain or Malta with a Golden Visa?
Yes, Golden Visa holders can work, start a business, or freelance in Spain. In Malta permanent residents can work without restrictions.
How long until I can get citizenship on the Spain Golden Visa?
You can apply for Spanish citizenship after 10 years of residency. However, you must live in Spain for at least 183 days per year to qualify. Nationals from Ibero-American countries, Andorra, the Philippines, and Equatorial Guinea can apply in just 2 years.
What are other European Golden Visa options?
Investors can consider Portugal’s Golden Visa , Greece’s Golden Visa or Cyprus’s Golden Visa as well as the Hungarian Golden Visa, Latvia and Serbia’s residency by investment. These programs still offer residency by investment.
