MDA welcomes Global Residence Programme
The Malta Developers Association welcomes with satisfaction the Global Residence Programme announced yesterday by Parliamentary Secretary for Competitiveness and Economic Growth Edward Zammit Lewis.
Through this initiative foreigners who buy property of a high value and pay tax in our country can benefit from a residence permit in Malta. The MDA had been insisting for a long time that a programme like this has to have attractive conditions to suceed and it appears that now Government has come up with a good programame with more realistic conditions than had been introduced previously.
The MDA believes that the sale of property to foreigners can be a good source of income for the property market and in this way both this market as well as the national economy are strengthened.
There are still other problems that occur when foreigners who are not citizens of the European Union or the European Economic Area want to buy property in our country without benefiting in some way from residence in Malta. The MDA is confident that a solution can also be found for these problems and is always prepared to play its part so that even in these instances this type of investment will be encouraged without creating disadvantages for the country.