The Malta Permanent Residence Programme is now accepting applications from prospective applicants seeking permanent residence in Malta. Following the publication of Legal Notice 121 of 2021 the Malta Permanent Residence Agency is now formally accepting applications under the MPRP, after having stopped receiving applications under the previous Malta Residence and Visa Programme on Friday 26th March 2021.
Two Investment Options for Applicants to choose from
The Malta Permanent Residence Programme is now accepting applications from prospective applicants seeking permanent residence in Malta. Following the publication of Legal Notice 121 of 2021 the Malta Permanent Residence Agency is now formally accepting applications under the MPRP, after having stopped receiving applications under the previous Malta Residence and Visa Programme on Friday 26th March 2021.
The new regulations lay down the legislative framework for the acquisition of residency under the MPRP. Residence cards under the MPRP are issued for 5 years and renewable for 5 years indefinitely as long as the applicant maintains a residential property in Malta. Holders of the MPRP enjoy permanent residency status in Malta granting the right to stay indefinitely in Malta subject to fulfilling the requirements set out in the legal notice.
Malta Permanent Residence Programme: Investment Options
Applicants under the MPRP may choose from two investment options:
1.Property Rental Option, or
2.Property Purchase Option
Whichever option is chosen the applicant is also required to make a one-time donation of €2,000 to a Maltese charity institution or non-governmental organisation.
Applicants are also required to make a contribution of €68,000 when buying a qualifying property; or €98,000 when renting a qualifying property.
If the applicant opts for the Property Rental Option, he should rent a property for at least €10,000 annually if the property is located in the South of Malta or Gozo, or €12,000 annually if located in the Central or Northern Part of Malta.
If the applicant opts for the Property Purchase Option, he should buy a property for at least €300,000 if the property is located in the South of Malta or Gozo, or €350,000 if located in the Central or Northern Part of Malta.
Malta Permanent Residence Programme – Eligibility
The MPRP is available only for Non-EU/EEA applicants of good repute. Applicants are required to show evidence of clean source of funds and wealth and a clean police record. In addition, applications under this programme are required to have capital of at least €500,000 out of which €150,000 must take the form of financial assets.
In the same application, the applicant may include the following family members:
•spouses or partners in a stable and durable relationship
•dependent unmarried children with no age limit, as well as
•economically dependent parents and grandparents of both the Main Applicant & the Spouse
Malta Permanent Residence Programme: Benefits
- Permanent Residence is valid for life
- Maltese Residence Cards are valid for 5 years and renewable for subsequent periods of 5 years
- Applicants have the right to live, work and reside in Malta
- Malta is part of the Schengen Area, the Commonwealth and the European Union
- Visa Free Travel within the Schengen Area
- Malta enjoys high quality education and healthcare services
- The MPRP allows a property rental option in lieu of a buying option, making the process both easy and convenient.
Our Malta Permanent Residence Services
ACC Immigration is a Maltese licenced immigration firm guiding high net worth international families on diverse subjects such as residency & citizenship, corporate, tax, financial services, fintech & property acquisition. Over the last 20 years, our Malta Immigration specialists have successfully represented hundreds of individuals and families ranging from expatriate retirees, emigrants seeking employment and high net worth individuals.
We are able to advise you on the tax and legal implications and requirements of the residence application process and indicate expected time frames based on the specific circumstances and nature of your application. Our advice covers the rules applicable to immigrating to Malta under a number of available residence schemes as well as practical relocation assistance ranging from transportation and insurance to schooling and health insurance coverage.
ACC Advisors Limited holds licence number AKM-ACCA
