The Malta Residence and Visa Program (MRVP) was implemented in 2015 under the Immigration Act (Cap. 217). The legal basis regarding the MRVP is contained in the Malta Residence and Visa Program Regulations, 2015. These Regulations allow duly qualified, reputable third country nationals (non EU, EEA or Swiss nationals) and their families, who make a contribution to the economic development of Malta, to be granted a Maltese Residence Permit, allowing the individuals the right to reside, settle and stay indefinitely in Malta, with free movement of travel within the Schengen area.

Requirements

The main applicant must be at least 18 years of age to qualify and must provide an affidavit declaring that from the date of the application they have an annual income of no less than EUR 100,000 or have in their possession capital of no less than EUR 500,000. The following options apply to meet the application requirements:

• Participation in approved financial instruments of at least EUR 250,000, which must be held for a minimum of five years

• A property purchase of EUR 320,000 (EUR 270,000 in South Malta or Gozo) to be held for a minimum period of five years; or a property lease of EUR 12,000 per annum (EUR 10,000 in South Malta or Gozo) to be leased for a minimum period of five years

• A non-refundable government contribution of

  EUR 30,000 and, where applicable, EUR 5,000 per parent or grandparent of the main applicant or of the spouse paid in accordance with these regulations

• Once five years have elapsed a suitable property needs to be held in order to renew the residence permit

The main applicant and any dependents must have a clean personal background with no criminal record and must be in good health with full medical insurance valid throughout the EU.

An application may include the children of the main applicant and/or the spouse, irrespective of their age if they are principally dependent upon the main applicant and are not married. Additionally, parents or grandparents of the main applicant or their spouse may also be included in the application as dependents if they are not economically active and are principally dependent on the main applicant. In this case, there will be an additional EUR 5,000 non- refundable contribution per parent or grandparent of the main applicant or of the spouse. An affidavit of support is required from the main applicant for all of their dependents over the age of 18 years.

There is also an option for the main applicant, to apply against a non-refundable supplementary administration fee of EUR 5,000 per person, to include on the main beneficiary certificate:

• The spouse of a previously approved dependent child of the main applicant and/or the spouse

• The child, born or adopted after the approval date, of a previously approved dependent child of the main applicant and/or the spouse

Benefits of Malta Citizenship by Investment

Malta offers a second citizenship option to families wishing to relocate their personal or business affairs to an EU country. Citizenship granted through this programme is valid for life and it is passed on to future generations by descent.

Citizenship is granted after 12 months from effective date of commencement of the genuine link with Malta.  Candidates must commit to a light physical presence in Malta before citizenship is granted. Persons already resident one year prior to IIP approval already satisfy this requirement.

Some benefits of Maltese citizenship include;

• Mobility:

  • Visa-free travel to over 166 countries, including EU, USA, Canada.

  • Right to live, work and study in any of the 28 EU countries, Norway, Iceland, Switzerland & Liechtenstein.

• EU approved citizenship program since Feb 2014

• Family eligibility includes parents of main applicant and spouse, minor children, unmarried dependent adult children <27. Descendants automatically entitled to citizenship thereafter.

• Malta is a neutral, safe and stable country with a friendly people living a European lifestyle but with a Mediterranean quality of life.

• Efficient process:

  • Citizenship approved after 4 months processing time.

  • Fast track residence cards within 1-3 weeks with Schengen mobility for 18 months.

  • A total of 12 months to issue passport (inclusive of processing time) from date of initial residency.

For more details on citizenship by investment in Malta, call our business immigration lawyers on 02085954222 or contact us online and we will call you.