Applying for a second residence or citizenship in Europe has evolved from being an extravagant investment to a wealth and family management solution for Nigerian nationals. Nigerians are increasingly applying for the Malta Permanent Residence Program , where families can obtain the right to live in Malta, access the Schengen Area and enjoy better economic opportunities and education. Requests from Nigerian nationals wanting a residency in Europe have increased and it is becoming clearer that Nigerians are looking for better opportunities for their families. According to the World Bank, the majority of the young population in Nigeria are taking steps to emigrate from the country to be able to live, work, invest, study, and do business abroad.
The Malta Permanent Residence Programme grants permanent residence immediately. Investors can benefit from permanent residence for life and a residence card renewable every five years.
Political Stability and Security
The African continent is not new to social and political unrest, and families are therefore looking for countries offering a safe, peaceful, and stable environment. Obtaining residency in Malta through the MPRP offers the perfect alternative. The crime rate in Malta is relatively low and the country is considered as a very safe and stable country to live in. In addition, English is an official language in Malta and widely spoken so it is very easy to communicate with locals. In terms of political stability, Malta is a stable country with a democratic system of government. It has a strong economy and infrastructure and is a member of the European Union.
One of the main reasons why Nigerians are increasingly applying for the Malta Permanent Residence Program and seek to move to Europe is because of educational opportunities. The Maltese government invests heavily in education and Malta has a well-built educational infrastructure which includes a mix of public, church, and private schools. Malta’s university (The University of Malta) attracts a large number of foreign students who come to Malta to acquire their bachelor’s degree or masters degree. Apart from the University of Malta, the country also has vocational institutes such as the Malta College of Arts, Science and Technology (MCAST). Nigerian nationals applying for Malta Permanent Residence can be rest assured that their children can receive good quality education from reputable public or private schools in Malta.
Better Business Opportunities
Nigerians have increasingly started applying for a Maltese residence through the MPRP because there are better business opportunities in Malta and a higher chance for them to access the European market. Obtaining residency in Malta makes it easier for investors to register subsidiaries and open bank accounts in Europe, and hence one could do business with customers directly rather than rely on European partners. With a Maltese residency, applicants would also be able to live permanently in Malta and travel within the Schengen Area thus facilitating mobility which would help investors in attending business meetings and conferences in Europe, therefore avoiding bureaucratic visa processes & applications.
Investors from Nigeria who may suffer from infrastructure deficit and power cuts which can hinder their economic activity, have no issues to worry about as Malta offers a well-developed infrastructure and a good internet connection.
Moving to Malta through the Permanent Residence Program (MPRP) not only allows applicants and their family members to enjoy life within Malta but also gives them a chance to travel visa-free within the Schengen Zone, which comprises of 27 countries. Nigerian passport holders don’t have the privilege of visa-free access to the Schengen Area and obtaining residency in Malta would facilitate travel to Europe.
Economic Stability and Employment
In Nigeria, inflation and economic disparity is on the rise. The Malta Permanent Residence Program provides an opportunity for Nigerians to live in a country with a stable economy and a good lifestyle. The steady growth in the Maltese economy led to various job opportunities in different sectors such as finance, healthcare, technology and hospitality.
There are three main requirements, which all need to be fulfilled in order to acquire permanent residence through the Malta Permanent Residence Programme:
- Pay a one-time application fee to the Government Agency of €98,000 when renting a property or €68,000 if buying a property, and
- Rent a property in Malta for €10,000 OR purchase a property for €300,000 and
- Pay a donation of €2,000 to a local registered philanthropic, cultural, sport, scientific, animal welfare or artistic NGO.
In addition, the applicant needs to declare and provide evidence that he is in possession of assets having a value of not less than €500,000 out of which a minimum of €150,000 shall be in the form of financial assets.
You can read more on the requirements and application process here.
Applications for residency in Malta are to be submitted by a licenced agent. Our firm has a wealth of experience in assisting applicants in obtaining residency and citizenship in Malta. So don’t miss this chance to contact us today and get to know more about your potential future as a Maltese resident or citizen in detail.