Malta Permanent Residence Program Europe
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Malta Permanent Residency Programme
Residency Malta Agency would like to inform its Licensed Agents of a revision of current legislation SL 217.26 regulating the Malta Permanent Residence Programme – the MPRP. These revisions will come into effect on 1st January 2025 by means of Legal Notice No 310 of 2024: https://legislation.mt/eli/ln/2024/310/mlt
The MPRP, as was its predecessor the MRVP, was ideated to offer value solutions to fit-and-proper individuals and families wishing to relocate to Malta or to hold a second residency for when they would need international mobility and movement, in return for a suitable investment in Malta.
In order to continue giving this value and maintain the MPRP’s unique position in the residency-by- investment landscape as a robust and reputable programme, its eligibility criteria and investment requirements are being revised to reflect current economic and market trends. In addition to this, the Agency has also been working on improving internal processes to reduce the processing timelines significantly and make it more attractive to prospective applicants, without compromising on our robust
due diligence checks.
The new eligibility criteria and requirements come into effect for applications submitted from January 1, 2025. Applicants who have already applied prior to the coming into force of these regulations shall remain subject to, and governed by, the principal regulations in force at the time of application submission.
Hereunder is a summary of the revisions. As from January 1, 2025:
Eligibility for Malta Golden Visa Europe
1. A Main Applicant shall present evidence of possession of assets having a value of not less than €500,000 out of which a minimum of €150,000 shall be in the form of financial assets or having a value of not less than €650,000, out of which a minimum of €75,000 shall be in the form of financial assets.
2. An adult child of the Main Applicant or of his spouse is eligible as a dependant if at the time of application is over 18 years of age, but not yet attained 29 years of age, not married and principally dependent on the Main Applicant. Note, however, that this change does not apply to for adult children eligible to be included in the basis of clause (e) in the definition of a Dependant.
Qualifying Property
1. Qualifying owned property must be purchased at a minimum value of €375,000 in Malta or Gozo.
2. Qualifying rented property must be leased at a minimum annual rent of €14,000 in Malta or Gozo.
Administration Fees / Contributions
The following administration and contribution fees apply:
1. Main Applicant: a non-refundable administration fee of €50,000 applies of which €15,000 need to be paid within 1 month from submission of application; with the remaining €35,000 payable within 2 months from the issuance of a Letter of Approval in Principle.
2. Dependants: fees applicable to dependants have been introduced, including for spouse, children, parents, and grandparents. A fee of €10,000 for each dependant applies, €5,000 of which is a non-refundable administration fee, payable for every dependant within 2 months from the issuance of the Letter of Approval in Principle when joining at application stage. The remaining €5,000 contribution is paid within 8 months from the issuance of a Letter of Approval in Principle.
If a dependant joins after the issuance of a certificate of residency, the non-refundable
administration fee and contribution fee must be paid upon submission of application.3. A contribution of €30,000 in respect of the Main Applicant who opts for a qualifying owned property (if purchasing property); or a contribution of €60,000 in respect of the Main Applicant who opts for a qualifying rented property; paid within 8 months from the issuance of a Letter of Approval in Principle.
Please be guided accordingly.
Any individual interested in applying for this Programme is required to do so through a registered approved agent and/or a registered accredited person. Dr Anton Tabone LL.D is an approved agent of this Programme and can be contacted on dratabone@gmail.com or on +356 99455052.
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