Investing as a foreigner

Hi friend, we're not too far away from each other, you're from Canada and I'm from North America. Basically I've opened two companies so far in Malta and am thinking about the third, I have been using dingli law firm dingli.com.mt/ and they have always sorted me out. They're very professional and experienced. Hopes this helps and good luck with your saloon. Will

Hi willallen,

the law firm that you recommend boasts that they don't advertise their services :

'The Firm does not advertise its services, both as a matter of policy as well as in strict compliance with the dictates of local professional ethics'

so I'm wondering whether you discussed your recommendation with them.

I don't think we are talking about a saloon , the European term is salon . Saloon is also a nice place but something else -)))

For you Shadimelody , I'm not sure what you mean with the info that you need to invest in a hair salon / barbershop in Malta. It is definitly a very competitive market. Walk the streets and you will see vegetable vans , hairdressing salons and Chinese massage salons .....

Apart from that the hairdressing market in Malta is a very individual one. Most salons are owned by the professionials , very often using the properties together but with every hairdresser having their own working hours and clients. It  goes very much by recommendation. There are a few larger chains with employees.

So I'm not sure where you fit into this scenario. A Maltese friend of mine runs her own salon so I can get you information on the requirements  to open/run your own business if you are a hairdresser yourself.

If you are thinking of opening a new chain /francise business you should definitly get professional advice.

If you are a Canadian citizen your main problem is probably investing at least 100.000 € to start your business and getting residency through the investment. BUt you will also need to employ Maltese hairdressers !

Cheers
Ricky

Thanks so much for the info. I will definitely contact them.

Hey Ricky

Thank you so much for the info.  You really covered a lot of things I was looking for.  It is a hair salon or a barbershop that I plan to start. I've been in the business for 19 years.  I'm planning to visit malta before and spend some time researching in person. I do have my own restaurant as well  in Canada.
Once again thank you

Hi,

the financial requirement for third-country nationals to receive residency as self-employed setting up a business in Malta is changing from 1. August 2015 according to a notice by the ETC in todays newspaper.

The option now applies to self-employed persons/shareholders who have invested at least 500.000 € through a cash/stock injection within Maltese territory. The limit until now was 100.000 €.

http://www.etc.gov.mt/NewsDetails.aspx?NewsID=112

Cheers
Ricky

Hi Ricky,
Found this item interesting.  I applied for self sufficiency and was given temporary "blue card" to cover my lengthy stay in Malta until such times as my Form H and accompanying documents have been processed.  It all looks hopeful as they included a photograph on my document but I must wait here in Malta and not leave for another country until it is processed, as my piece of paper is clearly marked "not valid for re entry to Malta.  As the date given was 3rd August.  At the time of submission, I was given what I would call a "verbal nod" that my application would be successful.  It makes me wonder whether the financial requirements for self sufficiency will change also.  Any thoughts on that, Ricky?  I have enquired by email, by mobile phone and again filled out an enquiry form at St.Elmo's but so far so joy!  Noone can tell me when my documents will be processed!  I am an Australian so non EU.  At the time, I was told that request to get an e residency card is subject to each individual application.

Hi Ozchook,

I know of a similar case with an American self-sufficient citizen who was first told that the application was no problem but then told that it was denied  . The visa for Malta was extended by 4 weeks.  The case is still ongoing .

My previous information ( also out of personal experience) is that non EU citizens are not granted residency as economic self-sufficient , only if the applicant opts for HNWI scheme or buys a Maltese passport.

I wish you luck and will keep you updated.
Ricky

Many thanks for your response, Ricky.  I have bought a property here and before that was "flagged" when I presented my documentation at the Immigration Department,  I was told that I must have at least 100,000 invested in Malta.  When I presented the contract of sale for the apartment worth more than 100,000 euros, all seemed OK verbally but because the rules look like changing for self employment on the 1st August, I  wonder if the story will be different.  Would appreciate any further updates if you hear of any changes. Otherwise it looks like I will reluctantly go down the path, six months in, and six months out in a non Shengen country with the limitation of not more than five years.
Ciao, Robyn

Thanks for the valuable information provided. Very much appreciated

Hi,

the financial requirements for residency through economic self-sufficiency have not changed. In fact the option never existed as far as I know.

Buying/owning a property in Malta does not give you a right to residency in Malta. You can come on vacation and stay there . You are not allowed to rent it out either.

Property does not qualify as business investment unless it is clearly a business and not residential. The investment figures quoted are always ex residential sales.

Cheers
Ricky

Yes, am aware that buying a property doesn't (on paper anyway) entitle a self sufficiency applicant submitting a Form H any entitlements whatsoever but got an entirely different impression from the children in the Immigration Dept.....supposedly 100,000 euros per annum investment in Malta, which apparently includes property purchase.      My pension entitlement from Oz. almost but not quite, reaches their minimum stated requirement.  I really wonder if they know what they are doing there.  Was also told on an earlier occasion that Form H was no longer available for non EU people and had been phased out.  As always, depends on who you connect with really.  However I feel that they are attempting to get a consistent act together and would like to think that I will not slip through the cracks....am aware of the rules about renting!
Cross your fingers for me........Ozchook