MALTA PERMANENT RESIDENCY PROGRAMME (MPRP)

Table of Contents

Background and Guide - Malta Permanent Residence Programme (MPRP)
Why apply for Malta Residency by Investment?
Eligibility Criteria - Malta Permanent Residency by Investment
Benefits of Malta Permanent Residency Program (MPRP)
Malta Citizenship by Investment and Property Purchase Assistance

Background and Guide - Malta Permanent Residence

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 2022, 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! Contact our Malta Immigration Consultants and Lawyers by telephone or visit us in our offices in Brisbane, Australia, Singapore, Hong Kong, London, UK and Lisbon, Portugal.

Why apply for Malta Residency by Investment, in 2022?

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 - The economy of Malta grew 9.7% year-on-year in the third quarter of 2021, down from an upwardly revised 14.9% growth in the previous quarter which was the highest expansion in 20 years.
Low Unemployment Rate - In 2020, the unemployment rate in Malta was at approximately 4.09 percent, compared to EU 6.7%, as at September 2021.
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.

Eligibility Criteria - Malta Permanent Residency by Investment Program

On 12 January 2021, the Malta Government launched a new permanent residency by investment program for non-EU nationals, effective 29 March 2021. 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 - Main applicants are 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 MPRP program requires a donation to a Maltese-registered NGO in the amount of €2,000 Euros (main applicant only).

3. 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 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.

Benefits of Malta Permanent Residency Program (MPRP)

The benefits of the Malta Permanent Residency Program (MPRP) are as follows:

Indefinite Residence - Offers third country nationals and their dependents indefinite residential status in Malta
Right to travel in all Schengen Area - travel within 26 Countries, visa free
Four Generation Program - Spouses, children under the age of 18, unmarried children (No age limit), parents and grandparents
Married Children - If children marry after they obtain card, wife can also apply for indefinite Residential status
No Residence requirement - Immediately receive an indefinite residence permit without living there, after just a 1 day visit
Indefinite Permanent Residence Card - The MPRP is the only Permanent Residency Program in Europe or Worldwide that guarantees an Indefinite Permanent Residence Card for the Applicant's children and their children
Low entry costs
No requirements for business, language, education background, age, etc
No language test
Only invest after receive Approval Letter in Principle
Safe and secure - A+ credit score Government bond
Fast and transparent process - 8 - 10 months to get the Residence Card

Malta Citizenship by Investment and Property Purchase Assistance

For assistance in applying for the Malta Citizenship by Naturalisation for Exceptional Services, eligibility criteria, and how our Immigration Consultants can assist you, and assistance to buy a Property in Malta, click on the following VisaConnect website pages: