Malta Residence and Visa Program (MRVP)
Malta Permanent Residence Programme (MPRP)
Permanent residence in Malta is the fastest in the European Union: in a few months you and your family will receive the status of permanent residents of a respected European state, which will remain with you life long. In other countries, this procedure may take from three to six years. You will be able to enter the Schengen area at any time and stay there up to 90 days in half a year, as well as permanently live in Malta. In order to obtain permanent residence, you need to invest € 250 thousand in securities for 5 years and prove the legal origin of your funds.
Program's details
- From €250,000 minimum investment
- Real Estate you may purchase or rent
- 5-6 months the term for obtaining permanent residence permit
- For the entire life no need to prolong
- For the whole family a spouse, children, parents, grandchildren
- Visa-free entry to all Schengen countries
- The right to live in Malta no obligation
- Obtaining citizenship after 5 years of residence in Maltа
The official website of the program
-
About the Program
Malta is one of the smallest countries in the world, its population is only about 500 thousand people. However, this is a prosperous European country with a high standard of living and respect for laws. Permanent residence in Malta gives the right for visa-free entry to the Schengen zone, you may stay up to 90 days in half a year and reside an unlimited period of time on the territory of the country.
The program regulating obtaining permanent residence permit by investment - Malta Residence and Visa Program (MRVP) - came into effect in August 2015. It has three main requirements. First, the investor needs to buy Maltese securities - government or corporate bonds and shares - and hold them for 5 years. Secondly, to buy or rent a property in Malta that meets certain conditions. Third requirement: you need to pay a substantial administration fee.
The whole family receives the permanent resident status, it is issued for the whole life and is confirmed by the state certificate - Certificate of Maltese Residence.
Unlike the Malta investment citizenship program, there is no quota for the number of permanent residence permits issued. Also, you do not need to pass an exam on knowledge of the language or history of the country.
Investment Conditions
-
€ 250 000 +
-
Securities
It is necessary to invest from €250,000 in government or corporate bonds of Malta.
The securities are profitable - 1-2% in euros.
After 5 years, the assets can be sold.
-
€ 50 000 +
-
Accommodation in Malta
You need to buy or rent real estate in Malta.
Purchase: from € 270,000 - in the south of the island of Malta or on the island of Gozo; from € 320,000 - in the center or in the north of the island of Malta.
Rent: from €10,000 per year (€50,000 for 5 years) - in the south of the island of Malta or on the island of Gozo; from € 12,000 - in the center or in the north of the island of Malta.
The property must remain in ownership or remain rented for 5 years.
Please note!
Malta's laws do not prohibit raising finance for investment. Some brokers offer to allocate up to 60% of the amount required for investing in securities. In this case, less initial capital is required from the applicant for obtaining the permanent residence permit. The conditions for granting a loan are regulated by an agreement with a broker: part of the amount may become irrecoverable and / or the proceeds from bonds are transferred to the lender.
-
Permanent Residence for Family Members
Together with the main applicant, permanent residence permits can be obtained by:
A spouse
official or civil partners
Children
dependent ones, without age restrictions
Parents
for both spouses, as well as their parents
Grandchildren
For civil partners, it will be required to prove the existence of a permanent relationship, for example, by providing birth certificates of common children or shared bank accounts.
It will also be necessary to prove that the adult family members are dependent on the applicant.
-
Requirements for the Applicants
- The main applicant should be an adult citizen of a third country.
- The applicant should confirm the existence of annual income outside Malta in the amount of at least € 100 thousand per year or assets in the amount of € 500 thousand. General assets can include real estate, deposits, securities, collections, etc.
- The applicant should not have troubles with the law.
- The applicant should fulfill the conditions of the program: pay an administrative fee, purchase securities, buy or rent accomodation.
- The applicant should have health insurance valid all year round throughout the European Union.
-
Documents
All documents should be officially translated into Greek or English and certified.
Personal documents
- Application form,
- Passport,
- Marriage certificate,
- Birth or adoption certificates,
- Diplomas,
- Certificate of no criminal record,
- Military ID,
- Medical insurance.
Proof of Income
Unlike applying for citizenship, the application for permanent residence permit does not require disclosing the origin of all income. It is enough to confirm the minimum amount - an annual income of € 100 thousand or capital in the amount of €500,000. However, it is recommended to tell about them in as much detail as possible. In order to do so, it is better, together with a specialist, to write a detailed motivation letter, in which you give the entire chronology of earning the money or developing your business, from early stages to the current moment, with all the necessary explanations.
Additional Expenses
- Administrative fees
-
€30,000 - a one-time administrative fee. If the application includes parents, grandparents, grandchildren or spouses of dependent relatives, each of them will need to pay € 5,000 for due diligence.
- Legal expenses
-
A lawyer's fee for the preparation of documents and support of the process of registration of permanent residence permit will amount about €10,000-40,000, depending on the complexity of the case and the prices of a particular company.
Please note!
Most of the administrative fees are transferred upon approval. The first payment is €5,500 when submitting documents for the due diligence of the applicant. The remaining amount of € 24,500 is paid after receiving a positive answer.
-
Rights and Obligations
- You may stay in Malta at your own discretion - you can live permanently, or you don't have to come at all.
- You may freely enter the Schengen countries and stay there for up to 90 days in half a year.
- You may open your business in Malta.
- You may work, however, additional work permit is required.
- There is no obligation to become a tax resident, but you can do it if necessary.
- You may educate children in private Maltese schools. If the main applicant obtains a work permit, the children will be eligible for free education in public schools.
- You may receive medical care in clinics in Malta and Europe.
- You may obtain citizenship by naturalization. This requires permanent residence in Malta for at least 5 years.
The procedure for obtaining
