Malta Announces a Revamped Residence by Investment Programme

March 26 00:00 2021 by The Editor Print This Article

Malta’s residence by investment laws have undergone a major amendment with the formal launch of a new residence by investment programme replacing the previous Malta Residence and Visa Programme. By means of Legal Notice LN 121 of 2021, Malta launched the Malta Permanent Residence Programme (MPRP) allowing non-EU nationals the right to apply for permanent residence in Malta. This programme was already announced on January 12th this year, but with the formal publication of the legal notice, new applications are now being accepted.  
The new MPRP allows two different investment routes: Applying for MPRP through a Property Rental Option or through a Property Purchase Option. 

Eligibility - MPRP

The Malta Permanent Residence Programme is open to non-EU/EEA nationals only. In order to be eligible under the programme, the Main Applicant must show that he has in his possession capital of at least €500,000 out of which €150,000 must be liquid assets.  
The new MPRP program allows the applicant to include in the same application: the spouse or partner in a long and durable relationship, dependent unmarried children of any age, and economically dependent parents and grandparents. 

Three Main Requirements - The Malta Permanent Residence Programme

The Main Applicant must satisfy the following three requirements: 

  1. Government Contribution & Administrative Fees: Under the MPRP, the main applicant is required to pay €98,000 when opting for the Property Rental Option or €68,000 when opting for the Property Purchase Option
  2. Philanthropic Donation: The MPRP also requires the main applicant to make a donation of €2,000 to a Maltese registered NGO or philanthropic organisation.
  3. Property Rental or Purchase: The applicant is also required to rent or purchase property in Malta. The minimum purchase value for a property located in the Northern and Central part of Malta is of €350,000 while property located in the South of Malta or in Gozo should at least cost €300,000. If the applicant opts to rent a property, the minimum annual rental fee should be €12,000 per year in the Central or Northern part of Malta and €10,000 annually in the South of Malta or Gozo.

An applicant may only invest in a residential property and should keep the qualifying property for at least five years.  

Investment in Government Bonds No Longer Required 

Under the previous MRVP program, the main applicant was required to make an investment of at least €250,000 into government approved bonds for a period of 5 years. The new program has removed this requirement. 

Accredited Malta residence agent and Malta citizenship lawyer Dr Priscilla Mifsud Parker (licence number AKM-ACCA-21) commented that an investment in Government bonds did not add much value to the local economy and the Programme had failed to stimulate the Maltese capital markets as hoped at its inception.