Malta announces new residency-by-investment programme: Malta Permanent Residence Programme

NEWS

01 Feb 2021

On the 12th of January 2021, the Malta Residence and Visa Agency (MRVA) announced that the Malta Residency and Visa Programme (MRVP) as known to date, shall come to an end by March 2021 and a new residency-by-investment programme shall be launched entitled ‘Malta Permanent Residence Programme’ (MPRP). The aim of the new programme is to offer permanent Maltese residency to successful applicants.

The new programme will be managed by a new agency, the Residence Malta Agency which will replace the existing MRVA.

Eligibility Criteria for the Malta Permanent Residence Programme

In order to be eligible for the programme the applicant must have €500,000 in assets of which at least €150,000 must be financial assets.

Malta Permanent Residence Programme Requirements

In order to apply for the new residency-by-investment programme the applicant needs to fulfil the following requirements:

• Immovable property purchase or rental:
  1. Purchase: if the purchased property is located in the South of Malta or Gozo, then the property value would need to be of at least €310,000 whilst if the property is located in any other area of Malta, then the property value would need to be of at least €350,000;
  2. Rental: if the rented property is located in the South of Malta or Gozo, then the annual rent value needs to be of at least €10,000, whilst if the property is located in any other area of Malta, then the rent value needs to be of at least €12,000.
• Non-refundable government contribution. The value of the contribution is directly depended on the previous requirement, whether the applicant rents or purchases an immovable property in Malta:
  1. If the applicant purchases a property in accordance to point 1.a above, then the contribution amounts to €68,000;
  2. If the applicant rents a property in accordance to point 1.b above, then the contribution amounts to €98,000.
• Donation to a Maltese registered non-government organisation of €2,000.

How long will the application process take?

The processing time for applying for the new programme is expected to last between 6 to 8 months.

The new residency by investment programme provides competitive and reasonable application requirements when compared to other European residency programmes. Applicants would be able to have access to further educational opportunities, greater mobility across the Schengen area and a possibility to further expand their investments to ensure the family’s wealth in the long term.

Full guidelines for the Malta Permanent Residence Programme are expected to be released in the coming weeks.