MALTA'S RESIDENCE AND VISA PROGRAMME (MRVP)
Malta is an ideal place to take up residence. Besides its pleasant climate, safe environment and hospitable English-speaking population, it offers a range of benefits to individuals seeking to acquire Malta residence, given its advantageous tax regime and competitive cost of living.
THE RESIDENCY AND VISA PROGRAMME IN BRIEF
The Malta Residence and Visa Programme was launched by the Maltese government through a Legal Notice published on the 28th of August 2015. The new Regulations were introduced to further draw third-country national investors to Malta.
The Programme offers Non-EU/EEA/Swiss nationals the opportunity to apply for a certificate which entitles the applicant and their registered dependents the right to reside, settle or stay indefinitely in Malta, as well as travel within the Schengen area without the need for applying for a visa.
Once obtained, the certificate issued under these regulations will be monitored annually for the first five years, and every five years thereafter.
The certificate does not entitle the holder to any other rights under the Immigration Regulations apart from residence.
Dependents under the programme include :
- the spouse of the main applicant in a monogamous marriage or in another relationship having the same, or similar status as marriage;
- children (including adopted children) of the main applicant or spouse under 18 years of age;
- children of the main applicant or spouse between the age of 18 and 26 provided that they are unmarried and economically dependent on the main applicant;
- parents or grand-parents of the main applicant or spouse provided that they are not economically active and are fully supported by the main applicant;
- children of the main applicant or spouse over the age of 18 with a certified disability in terms of the Equal Opportunities (Persons with Disability) Act, provided that they are living with and are fully supported by the main applicant.
Under the programme applicants and their dependents are offered the opportunity to acquire indefinite residential status in Malta subject to the following conditions:
- A non-refundable administration fee of €5,500 must be paid on submission of the application
- Once it is established that the beneficiary qualifies, he/she must pay a contribution of €30,000 (less the non-refundable fee that was paid on application)
- The applicant must purchase a qualifying immovable property in Malta for an amount of not less than €320,000 or €270,000 if the property is situated in Gozo or the south of Malta. The qualifying property must be held for a minimum of 5 years from the date of issuing of the certificate
- Alternatively the applicant may rent a property in Malta with a minimum annual rent of not less than €12,000 (€1,000 monthly), or €10,000 (€833,33 monthly) if the property is situated in Gozo or the south of Malta
- The applicant also needs to make a qualifying investment, in the form determined by Identity Malta, having an initial value of €250,000. The Investment needs to be retained for a minimum period of 5 years from the date of issuing of the certificate
- An affidavit must also be provided stating that from the date of application onwards he/she has an annual income of not less than €100,000 arising from outside of Malta, or he/she is in possession of capital of not less than €500,000
In addition to satisfying the above application requirements, the applicant must also meet the following criteria:
- The main applicant must be 18 years of age or older;
- Applicants and their dependents must be in possession of a valid travel document;
- The applicant and his/her dependents must provide a clean police conduct certificate
- Applicants and their dependents must satisfy all due diligence checks deeming them fit and proper
- The applicant and his/her dependents must hold adequate health insurance covering the EU territory
- The applicant must not benefit under the Residents Scheme Regulations, High Net Worth Individuals – EU, EEA/SWISS Nationals Rules, Malta Retirement Programme Rule, Residence Programme Rules, Qualifying Employment in Innovation and Creativity Rules or the Highly Qualified Persons Rules
- The applicant must be a third country national, i.e. not a citizen of the European Union, EEA or Switzerland
VIEW MALTA'S CITIZENSHIP BY INVESTMENT PROGRAMME HERE