Malta Residence and Visa Programme
Malta offers various options for Non-EU nationals who intend to come and reside in Malta. One of the options available in Malta relates to the Malta Residence and Visa Programme (the "MRV Programme"), which programme offers the applicant the opportunity to reside, settle, and stay indefinitely in Malta, as well as travel within the Schengen area without the need to apply for a visa.
Non-EU nationals are obliged to apply for a residence permit in case they intend to reside in Malta for more than three months.
The government has set up a new agency, the Malta Residence and Visa Agency, in order to promote and manage the MRV Programme.
Under the programme, the main applicants, their spouse and their dependants are offered the opportunity to acquire indefinite residential status in Malta subject to the following conditions:
- Qualifying property: a qualifying owned property purchased at a consideration of not less than €270,000 for a property situated in Gozo or in the south of Malta, or €320,000 for a property situated elsewhere in Malta, or rent immovable property for not less than €10,000 per annum for a property situated in Gozo or in the south of Malta, or €12,000 per annum for a property situated elsewhere in Malta. The property must be held for a minimum of five (5) years following the appointed date;
- Contribution fee: the main applicant commits himself to pay in full a contribution of thirty thousand euro (€30,000) which covers the main applicant, spouse, and the children of the main applicant and/ or of the spouse. A non-refundable administrative fee of five thousand five hundred euro (€5,500) on application, which will be deducted from the contribution fee;
- Additional contribution fee: an additional five thousand euro (€5,000) contribution, non refundable per parent or grandparent of the main applicant or of the spouse paid at application stage.
- Qualifying investment: the main applicant commits himself to a qualifying investment of an initial value of €250,000 which must be held for a minimum of five (5) years from the date of certificate;
the applicant has not had his application deemed to be against the public interest;
the applicant must provide an affidavit declaring that from the date of the application onwards s/ he has either an annual income of not less than €100,000 arising outside Malta or has capital of not less than €500,000;
the applicant must not have acquired the residency in Malta under any other program or regulations relating to residency;
the applicant and his dependants have a clean criminal record;
the applicant has passed the due diligence test and is a fit and proper person;
children over the age of twenty seven at the time of application can be included with the main applicant.
It is interesting to note that:
- children do not lose their residency rights on the 27th birthday;
the main applicant and his/ her dependants are eligible to apply for Long Term Residence, provided the respective requirements are satisfied;
approved child of the main applicant and/ or the spouse shall retain residency rights as long as they are not economically active and/ or married at application stage;
Applicants must be represented by an approved agent and/ or an accredited person. 3a Malta is an accredited agent and fully licenced to handle and submit applications under the programme.
From a tax perspective, the beneficiary would not be subject to a reduced rate of Malta tax and the general Malta basis of taxation would apply.