Malta Residency & Visa Programme (MRVP)
The Minister for Home Affairs and National Security has introduced Immigration Act (CAP. 217) of the Malta Residence and Visa Programme Regulations 2015 whereby an investor who makes a qualifying investment determined by Identity Malta having an initial value of two hundred and fifty thousand Euro (€250,000) and obtains a qualifying rented or purchased property would receive a certificate which shall be deemed to constitute an issued permit, which entitles the beneficiary of such a certificate and his registered dependents to reside, settle or stay indefinitely in Malta
The Malta Residence & Visa Programme Regulations of 2015
The Maltese government has introduced a new residency scheme through Legal Notice 288 of 2015 in terms of which a beneficiary and his registered dependents can reside, settle or stay indefinitely in Malta.
The purpose of this new set of regulations is to attract more quality investors who wish to acquire residence in Malta. The regulations are predicted to enhance commercial activities, businesses and wealth. The applicant must satisfy a three-tier structure: Contribution, Qualifying Property and Qualifying Investment. It is important to note that an applicant will be admitted as a beneficiary under this Programme after the necessary due diligence procedures have been carried out in line with the qualifications, general requirements and eligibility criteria laid down by the Regulations. (The entire application process is to be supervised by an approved agent or accredited person. The certificate issued under these regulations allows the beneficiary to reside, settle or stay in Malta indefinitely, after due diligence is carried out). The certificate is monitored yearly for the first five years, after that it is to be monitored every five years.
Applicants under this programme are to invest in the Maltese economy apart from satisfying the following requirements for eligibility:
- Applicant must be over 18 years of age.
- Must be in possession of a clean police conduct.
- Fit and proper individual.
- Must pay a contribution of €30,000.
- The payment of a non-refundable administrative fee of €5,500 which is paid together with application.
- Requires investing in property valued at not less than €320,000 or of not less than €270,000 for property in the South of Malta or Gozo.
- The beneficiary can opt to rent property with a minimum value of €12,000 per year or €10,000 for property rented in the South of Malta or Gozo.
- An initial amount of €250,000 shall be utilized as a qualifying investment in Malta.
- Beneficiaries have to record a minimum of €100,000 annual income or else they need to have capital amounting to a minimum of €500,000.
New Regulation Benefits
- The regulation facilitates beneficiaries and their dependents into residing in Malta and it gives freedom of travel in the Schengen area without the need of a Visa.
- Dependents include spouses, children under the age of 18, unmarried children between 18 and 26 years of age who are still financially dependent on the beneficiary, children with disability, parents and grandparents of beneficiary.
- Beneficiaries who fall under the Residents Scheme regulations, the High Net Worth Individuals – EU/EEA/Swiss Nationals Rules, the Malta Retirement Programme Rules, the Residence Programme Rules, the Qualifying Employments in Innovation and Creativity Rules or the Highly Qualified Persons Rules, are not eligible to apply for the Residence and Visa Programme Regulations of 2015.
- Life- long permit.
- Property rental instead of ownership is allowed.
- Safe investment Property rental instead of ownership is allowed.
- Wide ranging definition of family dependents, spouse or partner, children up to 26, adult dependent children, parents, parents-in-law, grandparents and grandparents-in-law.
- Political and economic stability.