Survey Finds Majority of Malta’s Golden Visa Beneficiaries Live Abroad
Survey Reveals Key Trends in Malta’s Golden Visa Program and Its Impact
A recent survey by the non-profit organization **“Malta’s Golden Visas: What problem are they solving and who benefits?”** highlights critical findings regarding the Golden Visa Program in Malta, its beneficiaries, and its socioeconomic impact.
Competition in the Housing Market
The survey found that the program often pits low-to-medium income renters against wealthier visa buyers. Out of **2,500 applications analyzed**, only **67 applicants purchased property**, while the vast majority opted for rentals. Most renters paid the minimum required amount—**€12,000 annually** on the mainland or **€10,000 annually** in Gozo.
Chinese Nationals Dominate the Program
From 2016 to 2021, nearly **88% of Golden Visa holders** were nationals from China. While **5,200 Chinese nationals** acquired residency in Malta through the program during this period, the population data revealed that only **2,700 Chinese citizens** currently reside in the country.
Property Preferences of Golden Visa Buyers
The report from the **Daphne Caruana Galizia Foundation** shows that only **7%** of Golden Visa beneficiaries choose to buy property, with the rest opting to rent.
Malta’s Golden Passport Program
In addition to the Residency by Investment Program, Malta also runs a **Golden Passport Program** offering citizenship to wealthy foreigners in exchange for financial investments.
- From **2014 to 2023**, **1,532 individuals** acquired Maltese citizenship through the program.
- Despite its contribution to Malta’s economic growth, the program has faced criticism over alleged links to money laundering, tax evasion, and corruption.
EU Commission's Stance on Golden Visa and Passport Programs
The European Commission has repeatedly called on EU countries to terminate these programs, citing concerns over their misuse for illicit purposes. However, Malta continues to operate both schemes, emphasizing their importance to the country’s economy.
These findings underscore ongoing debates about the long-term impact of such programs on Malta’s housing market, economic growth, and international reputation.
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