On Saturday, January 13, 2024, RIF Trust partnered with Benrock Capital for an exclusive event. Crowne Plaza Riyadh RDC Hotel & Convention hosted a seminar and dinner for Saudi HNWIs. We talked them through the process of acquiring European residency in 2024.
RIF Trust’s presentation focused on the Malta Permanent Residence Programme (MPRP). This Residency by Investment requires you to spend at least €150,000. Processing time is around six to eight months and this European residency gives you visa-free access to the 27 Schengen countries.
Malta is a family-friendly country. There are excellent international schools and a low crime rate. You can add your spouse or partner to this European residency, along with dependent children, parents, and grandparents.
There are two MPRP options. The first sees you pay the Maltese Government €68,000 and buy a property worth €300,000 in the south of Malta or Gozo (€350,000 anywhere else).
To qualify for the second option, you must make a €98,000 government contribution and rent a residential property with a minimum annual lease of at least €10,000 in the south of Malta or Gozo (€12,000 elsewhere).
Benrock Capital’s appropriately-named Isabel Castilla highlighted the benefits of the Spanish Golden Visa. Isabel showed a video that illustrated the beauty of her native country. She then outlined the paths to this European residency, with particular emphasis on the popular real estate route.
As well as Saudis, expats were in the audience. They included Egyptians, Jordanians, Lebanese, Syrians, and Yemeni. A lively question and answer session extended into dinner.
Questions primarily revolved around return/capital growth, taxes, and details of the property market in Spain. Many questions were asked about the financed commercial space option.
Isabel explained that the return is assured, not only the annual one (which in the case of commercial space can also be paid in advance), but the buyback is guaranteed as well.
Do not worry if you were unable to make this event. Our team of expert investment migration advisors is on hand to address any queries you might have about European residency. So, don’t delay and contact RIF Trust today.