MALTA PERMANENT RESIDENCY PROGRAM (MPRP)

Malta Permanent Residence - Background and Guide

The Republic of Malta, a full EU member since 2004, is strategically located to provide services to the international community. Malta an English-speaking country, has built upon the commercial laws of England and now the EU, to position itself as a premier family wealth, corporate and financial services jurisdiction.

With robust, competitive taxation rules, Malta has achieved sustained economic growth. Such growth is not solely the result of Malta's tax and fiscal policies, but there are other important factors such as a multilingual workforce, lower labour costs, a strategic location and a sound telecommunications infrastructure. As a result, there has been an influx of interest from investors, high net worth individuals and corporations, who desire a stable, reputable environment in which to structure their personal and corporate affairs - as well as to reside.

Now in 2021, it is possible to apply for High Net Worth Immigration to Malta (Malta Residency by Investment) to acquire Malta Permanent Residency (Malta Golden Visa), which allows the applicant and his family to live, work, and study on the incredible island of Malta through investment in Malta Bonds, Purchase or Rental of Property (Real Estate in Malta) and a financial contribution!

Why apply for Malta Residency by Investment, in 2021?

EU Country - Since 2004, Malta has been a member of the European Union (EU) and OECD and is a highly respected country. Citizenship of Malta offers the right to live, work and study in any of the 28 EU countries and Switzerland. Also, you can benefit from Free movement of People, Goods, Services and Capital, within the EU.
Location - Near Italy, and 2 hours flight time to Germany, and 3 hours flight to London, UK.
Banking System - A+ Credit Country Rating by Poors, Moodys and Fitch. Rated as the 10th Soundest Banking system in the world.
English language - English is an official language.
GDP - 9.62 billion Gross Domestic Product. GDP Growth 2.9%, and GDP per Capita 15,300.
Low Unemployment Rate - Only 6.0%, compared to EU 9.8%.
Work Permit - Resident may apply for Work Permit, under ordinary labour laws.
No World-wide Taxation - Income arising in Malta or foreign income brought into Malta is subject to ordinary tax rules of Malta (progressive income tax bands). Income not received in Malta is not taxed in Malta (0% tax on foreign capital gains). Malta has over 70+ Double Taxation Treaties.
Residency Requirements - Allowed an absence of 6 consecutive months or 10 months in 5-year period.

Malta Permanent Residency by Investment Program - Effective From 29 March 2021

On 12 January 2021, the Malta Government announced plans to launch a new permanent residency by investment program for non-EU nationals, effective 29 March 2021. This new program will replace the MRVP program which will continue accepting applications only until March 28. The new permanent residency program, will be named the Malta Permanent Residency Programme (MPRP), and it will replace the successful Malta Residence and Visa Program (MRVP) which was launched in 2016.

To be eligible for the new Malta Permanent Residency Programme (MPRP), the applicant must meet the following criteria:

1. Government Contribution - Under the old MRVP program, the Malta government contribution (non-refundable donation) was set at €30,000 Euros for the main applicant only. According to the new MPRP program, main applicants will be charged €98,000 for administrative fees and a contribution if they rent a property. These fees are reduced to 68,000 for main applicants who purchase a property. In addition, there will be a contribution payable by each dependent in the amount of €7,500 and €5,000 Euros for each child, over 18 years of age.

2. Philanthropic Donation - The old MRVP program did not require a Philanthropic donation. The new program requires a donation to a Maltese-registered NGO in the amount of €2,000 Euros (main applicant only).

3. Property Investment - Previously, the old MRVP program required either a property purchase of €320,000 Euros or a property rental of €12,000 Euros per year in the central or northern part of Malta (€270,000 / €10,000 in the south or Gozo). The rates under the new MPRP program will increase to €350,000 Euros for a purchase in the northern and central parts of Malta, and €300,000 in the south or Gozo. Rental rates are to remain unchanged.

4. 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.

5. 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.

6. Financing Option - No financing option will be available under the new MPRP program.

7. 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.

8. Age - The main applicant must be at least 18 years of age.

9. 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 European citizenship.

10. 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.

11. Valid Travel Document - The Applicant must have a valid travel document (Passport) for himself and his dependents.

12. 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.