this is amazing because in the realier days europeans seeked residence in south africa.......
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Malta offers back door entry
November 22 2008 at 12:13PM
By Bronwynne Jooste
The Mediterranean island of Malta is becoming the gateway for wealthy South Africans to secure quick residency in the European Union.
For the right price South Africans can bypass reams of red tape when applying for permanent residence in Europe. Malta joined the EU in May 2004.
There are criteria that must be met before people can be granted residency in most EU countries, and the controls are getting even tighter.
Successful applicants do not even have to live in Malta for a minimum amount of time to qualify
Now well-off South Africans can get permanent EU residency in just four months through the historic island.
Successful applicants do not even have to live in Malta for a minimum amount of time to qualify.
But they will have to earn at least R300 000 a year or have a net worth of R4,5-million. The applicants will also be required to lease or buy property in Malta and bring a certain amount of money into the country each year.
Malta recently joined 26 other European countries which have signed the Schengen treaty, meaning people who have permanent residence there will have free movement across all major European countries, without having to apply for visas.
A Cape-based company, Crusader Rock, is one of the few companies to offer the deal in the country. There has been a flurry of interest since its launch earlier this year and several company directors have already secured their residence in this way.
James Bowling, manager of Crusader Rock, said the option was attractive because it eliminated a lot of lengthy procedures.
"It's getting more difficult to get residence in Europe - there's a lot of red tape. But in Malta the barriers to entry are lower than in other countries in the European Union."
The company already has close to 100 clients eager to take advantage of the opportunity. Bowling said the agreement benefited those applying for residence and the Maltese.
