Introduction to Malta Permanent Residence Programme (MPRP)
Malta, with its strong economic environment, strategic geographic positioning, and political stability, has become a favored residency destination. The Malta Permanent Residence Programme (MPRP) offers investors, individuals, and families a flexible pathway to obtain permanent residency in Malta within a quick turnaround time of 4-6 months. This guide aims to provide comprehensive details about the program, covering key aspects such as eligibility, benefits, investment options, and the application process.
What is the Malta Permanent Residence Programme?
The MPRP allows investors to acquire permanent residency in Malta, enjoying the benefits of living comfortably as Maltese residents. The program emphasizes Malta's attractiveness, including safety, economic stability, political stability, high-quality infrastructure, and healthcare. Originally launched in 2015, the program underwent revisions in 2021 to enhance the quality of candidates and improve the due diligence process.
Why Malta?
Malta, an exquisite European archipelago in the Mediterranean Sea, boasts jagged cliffs, stunning beaches, and ancient sites. As part of the European Union, being a permanent resident of Malta provides the freedom to travel visa-free throughout the EU.
Malta Permanent Residence 2023 Highlights
Upon approval of the MPRP application, residents benefit from:
- No relocation requirements.
- Visa-free access to the Schengen area.
- Renewable residence card valid for five years.
- Pathway to Maltese citizenship under specific conditions.
- Tax residency achieved by living in Malta for 183 days per year.
- Rights to establish a business in Malta.
- Inclusion of up to four generations of dependents in the application.
- Enjoyment of high-quality healthcare, education, and a comfortable lifestyle.
Malta Permanent Residence Programme Investment Options
Investors have two main options to obtain permanent residence:
1. Property Purchase:
- Minimum property value of €300,000 (South of Malta/Gozo) or €350,000 (rest of Malta).
- Government fee of €28,000.
- Additional application fee of €68,000 and a €2,000 donation to an approved NGO in Malta.
2. Property Lease:
- Minimum lease of €10,000 (South of Malta/Gozo) or €12,000 (rest of Malta).
- Government fee of €58,000.
- Additional application fee of €98,000, and a €2,000 donation to an approved NGO in Malta.
Eligibility and Requirements
Key Requirements:
- Third country nationals, non-EU, non-EEA, and non-Swiss.
- Not from sanctioned countries.
- No advantages under other regulations and schemes.
- Stable financial resources to support themselves and dependents.
- Capital assets of at least €500,000, with €150,000 in financial resources.
- Clean criminal record and no threat to national security.
Dependents:
- Up to four generations of dependents can be added to the application.
- This includes the applicant's spouse, children under 18, dependents over 18, parents, and grandparents.
- Additional fee of €7,500 for each adult dependent.
Application Process
The Residency Malta Agency oversees a four-tier due diligence and screening process to ensure the qualification of applicants. The process is relatively quick, and residency can be obtained within four to six months. The agency also ensures yearly program compliance.
Conclusion
The Malta Permanent Residence Programme provides an attractive option for those seeking residency in a European country known for its beauty, stability, and strategic location. With flexible investment options and a relatively quick application process, the program caters to investors, families, and individuals looking to make Malta their second home. Prospective applicants are encouraged to thoroughly review eligibility criteria and investment details before initiating the application process.
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