Eligibility Criteria – Malta Permanent Residency by Investment Program
The Maltese Government launched a new permanent residency by investment program – Malta Permanent Residency Programme (MPRP) for non-EU nationals, effective 29 March 2021. The MPRP replaced the successful Malta Residence and Visa Program (MRVP), which was launched in 2016.
To be eligible for the Malta Permanent Residency Programme (MPRP), the Applicant must meet the following criteria:
1. Licensed Agent – Submit an MPRP application via a Licensed Agent, who is listed on Residency Malta Agency’s website ‘List of Agents’. Note that VisaConnect co-operates with Malta Lawyers, who are Licensed Agents.
2. Administrative Fee – Main Applicant must pay a non-refundable administrative fee of €40,000.
3. Government Contribution – Main applicants must pay a Government Contribution of €28,000 if purchasing a property or €58,000 if leasing a property. In addition, there will be a contribution payable by each additional adult dependent of €7,500 and €5,000 Euros for each child, over 18 years of age.
4. Philanthropic Donation – Make a donation to a local Malta philanthropic, cultural, scientific, artistic, sport or animal welfare NGO registered with the Commissioner of Voluntary Organisations for €2,000 Euros (main applicant only).
5. Property Investment – The rates under the MPRP program have increased to €350,000 Euros for a purchase in the northern and central parts of Malta, and €300,000 in the South of Malta or Gozo. Alternatively, rent a property for a minimum of €10,000 in the South of Malta/Gozo or €12,000 in the rest of Malta, as previously. The Applicant must hold the qualifying property for a minimum period of 5 years, after which a residential address is required.
6. Income or Asset Documentation – Under the previous MRVP program, the main applicant had the option to demonstrate either a minimum annual income of €100,000 or €500,000 in personal assets. The new MPRP program is expected to eliminate the proof of income option, while retaining the €500,000 proof of asset obligation with a new requirement of €150,000 of total assets being available as liquid funds.
7. Securities Investment – Under the old MRVP program, the main applicant was required to make a refundable investment of at least €250,000 into government-approved securities to be held for 5 years. The new MPRP program will no longer have this requirement.
8. Financing Option – No financing option will be available under the new MPRP program.
9. Third Country National – The applicant cannot be from the EU, EEA or a Swiss national. In addition, the applicant cannot be benefiting from any other Maltese tax or residency programme nor can they be from sanctioned countries.
10. Age – The main applicant must be at least 18 years of age.
11. Fit and Proper Test – As part of the Malta Permanent Residency Programme (MPRP), there is a four-tier due diligence process carried out directly by the government to assess candidates comprehensively. Applicants must have a clean criminal record, and the Malta government conducts extensive criminal checks with INTERPOL, the International Criminal Court, and various other sources and authorities. As part of the due diligence process, applicants must also provide a police certificate before they will be approved for Malta MPRP. In addition, Applicants must not pose any potential threat to Malta national security, public policy, public health or public interest.
12. Excellent Health – Applicants must prove that they do not suffer from any contagious diseases. All applicants must also be covered by an ‘all-risks’ EU wide health insurance policy.
13. Valid Travel Document – The Applicant must have a valid travel document (Passport) for himself and his dependents.
14. Travel Insurance – Take out a Medical Insurance policy to cover all risks across Malta. Also, have travel Insurance when travelling across the Schengen Area.
15. Dependents – The Applicant can include dependents in their visa application, including: Spouse, Child (and adopted) under 18 years, Unmarried child 18-26 years, and Parents and Grandparents.
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