The new Malta Permanent Residence Programme (“MPRP”) was launched in 2021 and replaced the previous Malta Visa Residence Programme (“MRVP”) from 2015. It is a residency-by-investment programme that is based on investment in real estate and government contributions. With a promise of 4 to 6 months processing time from the submission of full application, this programme is designed to give reputable ‘third country nationals’ and their dependants the opportunity to acquire indefinite Maltese residential status.
The term “third country national” applies to all those who are not citizens of the European Union, the European Economic Area or Switzerland. Successful applicants will not only have the opportunity to acquire residency, but they will also be free to travel within the Schengen Area without the requirement of obtaining a visa for a period of 90 days for every 180 days and also participate in Malta’s real-estate market.
The authority responsible for examining MPRP candidates is Identity Malta. In order to determine eligibility for this programme, Identity Malta examines factors such as the applicant’s standing in current and former countries of residency, annual income, capital assets and source of wealth
Candidates eligible for the programme are allowed to extend their privileges to ascendants and descendants from up to four generations. Eligible dependants include:
- Spouses;
- children under the age of 18;
- unmarried children; and
- parents/grandparents who are financially dependent on the main applicant.
Requirements for Malta Permanent Residence Programme
- Applicants must be third country nationals ;
- Applicants must not be citizens of sanctioned countries, as announced by the Agency from time to time;
- Applicants must be 18 years of age or above;
- Applicants must not benefit from any other residency scheme;
- Applicants must have clean police conduct;
- Applicants must not impose a threat to national security or public;
- Applicants must have stable financial income, sufficient for themselves and their dependants;
- Applicants must hold Assets of not less than €500,000, out of which minimum €150,000 must be financial assets;