The Malta Permanent Residence Programme (MPRP) was launched by virtue of the Legal Notice 121 of 2021 and came into force on 29th March 2021. The authority responsible for managing, as well as for promoting the Programme is the Residency Malta Agency.
Through MPRP Third Country Nationals and their dependents willing to invest in the islands of Malta are granted a permanent Maltese residency, which provides them with the opportunity to reside, settle and live in Malta. One of the main features of this program is that there are no minimum stay requirements towards the applicant. This gives a privilege to the applicant and his dependents to travel freely within the Schengen area without any need of applying for a visa.
Benefits of Malta Permanent Residence Programme (MPRP):
- Maltese Residency within 3 months.
- The applicant and all family members/dependents will have an EU residence card opening visa-free travel to any country within the Schengen area, for a total period of 90 days within 6 months.
- Application may include 4 generations.
- All applicants will have the right to reside indefinitely in Malta
- The applicant and his/her family can avail the highly reputed health care of Malta which is ranked 5th in the world.
- MRVP also gives access to the top-tier British standard Education and English Language schools by residing in Malta.
- There is no presence required in Malta.
- Government Application fees: The main applicant is required to invest EUR 40,000 to the Government of Malta of which EUR 10,000 will be paid on the initial application/registration process and the balance of EUR 30,000 will be invested on the approval of the application.
- Dependent Application fee: Additionally, EUR 7,500 must be invested as an application fee per dependent parent/grandparent.
- Declaration of Liquidity: The Applicant must have in his/her possession a capital of not less than EUR 500,000, out of which a minimum of EUR 150,000 must be financial assets.
- Real Estate Investment: Applicants must purchase or lease a property in Malta of minimum (Such investment can be processed after receiving the letter of approval and not necessarily before):
- Purchase: EUR 350,000, or EUR 300,000 if located on the South of Malta or Gozo.
- Lease/rent: EUR 12,000 per annum, or EUR 10,000 per annum if located in the South of Malta or Gozo.
- Government Contribution: Additionally to the above, applicants must pay a government contribution of:
- EUR 28,000 if purchasing a property, or
- EUR 58,000 if leasing a property.
- Donation to NGO: The applicant must make a donation of EUR 2,000 to a local NGO registered with the Commissioner of Voluntary organizations.
After 5 years, the applicant may decide to sell the investments in real estate and still retain residence on condition that other requirements according to L.N. 288 of 2015 are met. This is only due to approval.
For more insights, read our article about Do’s and Don’ts for a Successful Residency Application of Malta and learn some useful tips before starting your applying for the program.