Yesterday, 13th October 2022, the Residency Malta Agency in collaboration with Malta Enterprise has launched a new, but much-anticipated residency programme – Malta Startup Residence Programme (MSRP). The new programme is aimed to attract entrepreneurs to develop or expand their innovative business ventures into Malta, where in return they would be eligible to obtain a special residence permit for a period of 3 years to run their business operations. Such permit can be renewed for a further period of 5 years, up to a maximum of 8 years.
Under the Startup Residence Programme of Malta, a residence permit can be granted to founders, co-founders, core employees and family members of all involved parties, with an application processing fee of €750 for each individual application. Residence permits for core employees and their family members are issued for an initial period of 3 years which can further be extended to a further 3-year period.
Whilst this new programme offers residence opportunities for the involved parties, since it is a business-based programme and specifically targeted at start-ups, applicants are required to obtain an approval of their business plan from Malta Enterprise prior to applying for the residency programme.
The newly incorporated start-up would need to satisfy certain criteria in order to be eligible under this programme including a share capital requirement, and develop a concept which is innovative and novel.
Further information and eligibility guidelines can be found on the programme page. For a personalised solution based on your circumstances, we recommend seeking professional assistance.
SMM Immigration department
SMM Immigration team focuses on delivering quality advice and assistance on various immigration-related matters. Book a face-to-face or online consultation by filling in the contact form or call +356 2123 7167 for immediate assistance.