Newly Launched Malta Residency & Visa Program (MRVP)

Identity Malta Agency has announced that the Malta Residency & Visa Program (MRVP) is now accepting applications.

The Malta Residence and Visa Programme provides international investors with residency rights in Malta. These rights will apply only for non-EU / EEA / Swiss Nationals.

The new programme falls under the Immigration Act and is available to both the applicant and also their dependants subject to the below qualifications.

The qualifications and general requirements for the issuing of a certificate under these regulations are that such person:

  1. is at least eighteen years of age;
  2. meets the application requirements;
  3. has a clean criminal record (as do his dependants), has passed the due diligence test and is a fit and proper person;
  4. commits himself to provide proof of title to a qualifying property which may be either of the following:

A qualifying owned property purchased at a consideration of not less than two hundred and seventy thousand euro (€270,000) for a property situated in Gozo or in the south of Malta, or three hundred and twenty thousand euro (€320,000) for a property situated elsewhere in Malta

A qualifying rented property, taken on lease for a rent of not less than ten thousand euro (€10,000) per annum for a property situated in Gozo or in the south of Malta, or not less than twelve thousand euro (€12,000) per annum for a property situated elsewhere in Malta.

  1. commits himself to a qualifying investment of an initial value of two hundred and fifty thousand euro (€250,000) which must be held for a minimum of period of 5 years from the date of certificate.
  2. commits himself to pay in full a contribution of thirty thousand euro (€30,000) in accordance with these regulations.
  3. has not had his application deemed to be against the public interest.

A non-refundable administrative fee of five thousand five hundred euro (€5,500) on application will be applicable, which will be deducted from the contribution. The applicant will need to provide an affidavit declaring that from the date of the application onwards he has either an annual income of not less than hundred thousand euro (€100,000) arising outside Malta or has capital of not less than five hundred thousand euro (€500,000).

The applicant has to be a third country national, not a Maltese, EEA or Swiss national.

The applicant must not be under the Residents Scheme Regulations, the High Net Worth Individuals – EU / EEA / Swiss Nationals Rules, the Malta Retirement Programme Rules, the Residence Programme Rules, the Qualifying Employment in Innovation and Creativity Rules or the Highly Qualified Persons Rules.

The beneficiary must hold both the qualifying property and the qualifying investment for a minimum five (5) year period following the appointed date.

The certificate will give the applicant and the registered dependants the option to reside, settle or stay indefinitely in Malta.

Each application has to be administered by a registered accredited person or registered approved agent with Identity Malta to which Abacus is a registered agent.

For more information about residency schemes in Malta please contact stephanie.sullivan@abacusmalta.com.