Visa residency rules changed for Malta

February 10, 2015
Malta undergoes changes in visa residency rules

The Government of Malta has undergone special changes to its rules concerning rich investors as a number of them are heading towards the Mediterranean country. The same residency rules apply to Europeans as well as non-Europeans. Almost 36 rich people applied for this scheme in a year’s time. It appears that rich Chinese and Russian nationals have a preference for residency plans in Spain and Portugal when compared to Malta which has provisions for a visa if they invest in real estate.

In the meantime, the latest nation which has simplified its visa norms in a bid to allure more wealthy individuals to invest in the country is India. The investors particularly complained regarding the rules and regulations involving a move which needed to be considered individually by the government before approving it. This makes setting up a business very time consuming and much exposed to activists who try their best to thwart the proceedings.

India’s interest is particularly on the Chinese investment. A new procedure is about to be made which will help in identification of areas and sectors wherein the companies from China are able to enter, enter with some impositions or where they are not allowed at all. It is a complaint by China that business entities are required to meet strict visa and security clearance needs before investing in India. However, according to Foreign Minister, Sushma Swaraj Chinese companies will find it easier to do business in the country.

Plans for introduction of visas on arrival for Chinese travelers are underway. However, the officials say that an alternative agreement should fall in place concerning Indian nationals touring China.

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