S.L. 123.79 Art. 7Withdrawal of certificate.

The certificate shall be deemed to have been withdrawn with immediate effect if the holder of the certificate:

(a) is issued with a residence permit or a residence document in terms of regulation 9 of the Immigration

Regulations;

(b) does not take up residence in Malta within twelve months of the date of issue of the certificate and does not, within fifteen days of taking up residence in Malta, give notice to the Commissioner on the form as set out in Schedule B, containing the information and documents requested therein;

(c) does not produce evidence that within twelve months of taking up residence in Malta he has purchased a flat at a cost of not less than €69,000 or a house of not less than €116,000 or taken on a leased immovable property at not less than €4,150 per annum: Provided that in the event that the holder of a certificate either:

(i) sells the aforesaid house or flat; or

(ii) terminates the aforesaid lease, the holder of the certificate must hold a qualifying property holding. For the purposes of this regulation: "qualifying property holding" is a holding which arises where a beneficiary either:

(i) owns qualifying owned property; or

(ii) rents qualifying rented property as lessee; and, in either case, occupies such property as his primary residence: Provided that the persons who reside in the qualifying property are not persons other than the beneficiary and his family members; "family members" means beneficiary’s ascendants in the direct line, descendants in the direct line, brothers, sisters, spouse/s or persons with whom beneficiary is in a stable and durable relationship; "primary residence" means the dwelling house in which an individual habitually resides in as his principal place of abode worldwide; "qualifying property" means either a qualifying owned property or a qualifying rented property, as the case may be; "qualifying owned property" means an immovable property purchased:

(a) after 14 September, 2011 up to 30 June, 2013 at a consideration of not less than four hundred thousand euro (€400,000);

(b) after 1 July, 2013, at a consideration of not less than:

(i) subject to the provisions of sub-paragraph (ii), two hundred and seventy-five thousand euro (€275,000) for a property situated in Malta; or

(ii) two hundred and twenty thousand euro (€220,000) for a property situated in Gozo or in the south of Malta; "qualifying rented property" means a property taken on a lease of:

(a) if the lease was taken on between 14 September, 2011 and 30 June, 2013, not less than twenty thousand euro (€20,000) per annum;

(b) if the lease was taken on or after 1 July, 2013:

(i) subject to sub-paragraph (ii), nine thousand and six hundred euro (€9,600) per annum for a property situated in Malta; or

(ii) eight thousand and seven hundred and fifty euro (€8,750) per annum for a property situated in Gozo or in the south of Malta; "south of Malta" means the areas within set boundaries as designated in the Second Schedule to the Local Government Act of the localities listed in the Schedule to these regulations;

(d) does not comply with the provisions of regulation 9;

(e) does not continue to comply with the provisions of regulation 6(c);

(f) is not in receipt of stable and regular resources which are sufficient to maintain himself and his dependents without recourse to the social assistance system in Malta;

(g) if the property referred to in paragraph (c) is occupied by persons who are not the permit holders and, or his family members;

(h) is not in possession of sickness insurance in respect of all risks normally covered for Maltese nationals for himself and the members of his family.