Malta — archipelago in the Mediterranean, announced the “Startup Residency Program” for non-EU entrepreneurs to start new businesses on the island or expand existing ones.
The Malta Startup Residency Program is designed for third country nationals who are willing to use Malta's attractive and lucrative start-up ecosystem for their innovative startup.
The program provides a residence permit for a period of 3 years to the founders, co-founders, employees and their immediate family members. The permit can then be extended for another 5 years by the founders and co-founders, and for 3 years by employees, provided that the business is conducted and developed in the right direction. Applicants themselves must still meet the criteria.
Malta — the perfect breeding ground for new businesses to thrive. Its strategic location and concentration of industry players and talent creates the right environment for startups to launch, grow and scale products and services.
The investment requirement for the Malta Startup Residency Program is a minimum of €25,000 in tangible investment or paid-in share capital. Beneficiaries of the Malta Startup Residence program will be required to have a physical presence in Malta and pay local taxes. After five years of residence in Malta, beneficiaries will be able to apply for a long-term residence permit.
Experts are optimistic about this new proposal. “Malta creates an ideal ecosystem for start-ups. It has a diverse economic landscape — from high-tech manufacturing to robotics, pharmaceuticals, aviation, maritime, research, development of medical equipment. In addition, there is a strong expatriate community that is easy to communicate with as English is the official language. This is not to mention the fact that Malta — one of the safest and most beautiful countries in Europe to live and raise a family, with first-class medical care and an education system that is second to none.”
Malta Enterprise offers a special package for start-ups, including grants, loans and other gratuitous assistance that can greatly stimulate start-ups seeking funding in the early stages.
The country consistently scores high thanks to stable credit ratings and positive outlook. Despite its small size, Malta's connections are not limited to the EU market, but extend to the markets of Africa and the Middle East.
With its year-round mild climate, rich history and heritage, hospitable population, first-class education and world-class medical care, the beneficiaries of this programs and their families will feel comfortable and safe from the moment they land.
