Legal Notice 122 of 2021 has amended the Malta Residence and Visa Programme Regulations with the main aim of aligning certain requirements and eligibilities to the newly launched Malta Permanent Residence Programme.
The MPRP is a residency-by-investment program which shall entitle a beneficiary to the right to settle, stay and reside in Malta permanently together with one’s registered dependants. In addition to this, the new Malta Permanent Residence Programme also offers the freedom to enjoy Visa-free travel across Schengen, 90 out of 180 days and it also allows four generations of families to apply.
The following requirements must also be fulfilled in order to submit an application in accordance with MPRP:
- Be third country nationals, non-EEA and non-Swiss
- Not benefit under other pertinent regulations and schemes
- Be in receipt of stable and regular financial resources, sufficient to maintain themselves and their dependants
- Show that they have capital assets of not less than EUR 500,000 out of which a minimum of EUR 150,000 of which must be financial assets;
- Be fit-and-proper individuals and have a clean criminal record
- In possession of a valid travel documents
- Pay a non-refundable administrative fee of EUR 40,000
- Rent property for not less than EUR 12,000 per annum if situated in Malta or EUR 10,000 if situated in the south of Malta or Gozo/Purchase property of not less than EUR 350,000 if situated in Malta or EUR 300,000 if situated in the south of Malta or Gozo;
- Pay the Government a contribution of EUR 28,000 if purchasing property or EUR 58,000 if leasing a property. One would be required to pay an additional EUR 7,500 for each additional adult dependent (if applicable);
- Pay a EUR 2000 towards NGOs.