The Malta Residence and Visa Programme (MRVP) was launched by the Parliamentary Secretary for Competitiveness and Economic Growth in 2015. The authority responsible for managing, as well as for promoting the Programme is the Malta Residency and Visa Agency.
Through MRVP 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 Residence and Visa Programme (MRVP):
- 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.
- 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 30,000 to the Government of Malta of which EUR 5,500 will be paid on the initial application/registration process and the balance of EUR 24,500 will be invested on the approval of the application.
- Dependent Application fee: Additionally, EUR 5,000 must be invested as an application fee per dependent parent/grandparent.
- Declaration of Liquidity: The Applicant must declare an annual income of not less than EUR 100,000 arising outside Malta or has in his/her possession a capital of not less than EUR 500,000
- Real Estate Investment: Applicants must purchase a property of minimum EUR 320,000 or EUR 270,000 if located on the South of Malta or Gozo. Otherwise, applicants have an option to lease a property of EUR 12,000 per annum or EUR 10,000 per annum if located in the South of Malta or Gozo. Such investment can be processed after receiving the letter of approval and not necessarily before.
- Investment in Government Bonds: The applicant must invest in government bonds/shares amounting to at least EUR 250,000.
After 5 years, the applicant may decide to sell the investments (real estate/government bonds) and still retain residence on condition that other requirements according to L.N. 288 of 2015 are met. This is only due to approval.
Also, 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.