Malta Permanent Residence Programme
17 October 2024 | Malta
Malta Permanent Residence Programme
The Malta Permanent Residence Programme (also known as “MPRP”) is a residency-by-investment scheme that requires contributions from the government and investments in eligible real estate. When it comes to helping people and their families obtain a Maltese residency card, the Programme is quite beneficial. It takes 4 to 6 months to submit an application that is accurate and full.
Legal Basis
By virtue of Legal Notice 121 of 2021 – Malta Permanent Residence Programme Regulations, 2021 (“the Regulations”), a third country national together with his / her approved dependants (spouse/ children/ parent/ grandparent/ grandchildren) is entitled (upon approval) to reside, settle or stay indefinitely in Malta, subject to the continued adherence of all obligations and conditions set out in the Regulations.
Why Malta Permanent Residence Programme (MPRP)?
- Reputable residency program with a four-tiered due diligence approach to carefully examine applicants.
- Upon approval, a certificate of permanent residence is issued.
- Relatively fast approval procedure (4-6 months).
Eligibility Requirements of Malta Permanent Residence Programme
To be eligible for the MPRP, applicants should:
- Be third country nationals, non-EU, non-EEA and non-Swiss;
- Not hail from sanctioned countries, as announced from time to time by the Agency;
- Not benefit under other pertinent regulations and schemes;
- Be in receipt of stable and regular financial resources, sufficient to maintain themselves and their dependants, without recourse to the social assistance system of Malta;
- Show they have capital assets of not less than €500,000, out of which a minimum of €150,000 must be financial assets;
- Be fit-and-proper individuals and have a clean criminal record;
- Not pose any potential threat to the national security, public policy, public health or public interest.
Key Benefits of Malta Permanent Residence Programme (MPRP)
- Schengen Mobility
Visa-free access across the Schengen zone, for a period of 90 days within a 180 day period. - Permanent Residence
Right to settle and stay indefinitely in Malta. Future dependants & family members can be added after the certificate is granted. - Language
English in one of the two official languages in Malta. - Quality of Life
Malta enjoys a high quality of life, with state of the art public and private hospitals, low crime rate and a mild climate. - Education
Access to high-level education in both state and private institutions.
Key information to keep in mind
- The Maltese authorities require full transparency and take the due diligence procedure very seriously;
- After the certificate is issued, the qualifying property must be retained for a minimum of five years, at which point a residential property will be needed;
- The capital assets, which should not be less than €500,000 (at least €150,000 of which should be in financial assets), shall be retained for a minimum of five years from the certificate’s issuance date;
- The individual is required to have health insurance and steady, regular income that is sufficient to support them and their dependants without turning to Malta’s social assistance system;
- After the initial five years, the status is reviewed annually or as the Agency sees fit; and
- As soon as the beneficiary violates any of the regulations’ stated rules, the status will be revoked.
Frequently Asked Questions (FAQs)
The term is individual: it depends on several factors, for example, the time needed to prepare documents, find a property to rent or buy, and fulfil other investment conditions.
After submitting documents, the application is processed for 6+ months. Then, some time is needed to get final approval and receive residence cards.
Adult investors over 18 years old can participate if they have:
- a proven legal income;
- no criminal records;
- no previous refusals on getting a visa in a country that has a visa-waiver agreement with Malta;
- assets of at least €500,000, including liquid financial assets of €150,000.
Investors’ family members can get permanent residence under the programme. A spouse or partner, children, parents and grandparents can participate. There is no age limit for relatives.
However, several requirements are imposed on adult family members. Children over 18 must not be married. Adult children, parents and grandparents should be principally dependent on the investor.
If the investor buys real estate to participate in the programme, they can sell it five years later and get the money back. In addition, they can rent out the property.
Rental payments, administration and contribution fees, and charitable donations cannot be refunded.
The MPRP is valid indefinitely as long as annual compliance is carried out for the first five years and the residency cards are renewed when they expire.
Yes, additional dependents may be added only once the application has been approved.
Yes, as long as Residency Malta is notified of such a change through the licenced agent.
For more details & questions, Kindly contact us and one of our Immigration Consultants & Immigration Lawyers will respond to you.
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GET IN TOUCH WITH US
Simard & Associates helps clients apply for citizenship and residence under the applicable programs. To schedule an initial free consultation, get in touch with us.
GET IN TOUCH WITH US
Simard & Associates helps clients apply for citizenship and residence under the applicable programs. To schedule an initial free consultation, get in touch with us.