A new residence and visa sale scheme just launched in China is part of a global push spearheaded by private companies to attract rich individuals to Malta. A spokesman for Economic Growth Parliamentary Secretary José Herrera, who launched the new scheme in China last week, confirmed that the programme would be marketed around the world by private companies with successful applicants paying a fee of €10,000 each. Applicants will have to invest €250,000 in government bonds and buy or rent property on the Maltese islands. Properties in Malta need to have a minimum value of €320,000, or €270,000 in Gozo or the south of Malta or annual rental value of €12,000 in Malta and €10,000 in Gozo and the south of Malta. A €30,000 'contribution' must also be made, part of it going to the private company promoting the scheme and the rest to Identity Malta. The spokesman said the contribution would "support" Identity Malta's operations and serve as a source of income for the government. The programme will be promoted in Asia, the Americas, Oceania, South Africa, the Middle-East, Turkey and Europe. In Europe, the scheme will be specifically targeting the Russian Federation and...
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