Permanent Residence For Non-EU Nationals
The Malta Permanent Residence Programme (MPRP) launched in 2021 is a PR programme open to non-EU nationals who invest in Malta. The MPRP offers third country nationals the opportunity to acquire a second residency in Malta which is a member state of the EU and part of the Schengen Area. Individuals and families often look at having a second residency in a safe and stable country where they can settle and reside due to economic and political upheaval in their country of origin. The Programme is regulated by a robust legal framework, and it allows the Main Applicant the right to include in the application, the spouse, children, parents, (including parents in law) and grandparents and to give the opportunity to reside or settle indefinitely in Malta. The residency permit also allows the applicants the right to travel within the twenty six countries of the Schengen Area without a visa.
The Malta Permanent Residence Programme (MPRP) is only open to Non-EU Nationals who are in receipt of stable resources to maintain themselves and their family members. Applicants must provide evidence of a clean police record and source of wealth and funds. In this regard, applicants and their family members are to pass a strict four tier due diligence test.
In order to be eligible, applicants must also provide evidence that they hold at least three hundred and fifty thousand euro (€350,000) in capital and one hundred and fifty thousand euro (€150,000) in financial assets.
Qualifying Family Members
The Main Applicant may also include the following family members in the same MPRP application:
- Spouse or Partner of the Main Applicant,
- Unmarried and economically dependent children of the Main Applicant & the Spouse,
- Economically Dependent Parents of the Main Applicant & the Spouse,
- Economically Dependent Grandparents of the Main Applicant & the Spouse
To benefit under the MPRP, applicants are to satisfy several criteria. The Main applicant must:
- Pay a Government Application Fee of €68,000 if purchasing a property in Malta or €98,000 if renting a property in Malta, and
- Donate at least €2,000 to a philanthropic organization or NGO, and
- Rent or Purchase a property in Malta
- Central & Northern Part of Malta: Minimum Purchase at €350,000 or rent at €12,000 annually
- Southern Region of Malta and Gozo: Minimum Purchase at €300,000 or rent at €10,000 annually
The Benefits of the Malta Permanent Residence Programme (MPRP)
- Permanent Residence status in Malta valid for life
- The right to reside indefinitely in Malta
- Property Investment is only required for the first five years
- Visa-Free Travel within the Schengen Area
- Ability to include family members in the same application
- No minimum stay requirement
The application can be submitted through a Power of Attorney whereby the applicant entrusts us with the submission of the application and supporting documentation. At this stage a €10,000 non-refundable fee is payable from the total application fee. Once an application is submitted, the Malta Permanent Residence Agency (MPRA) reviews the application & supporting documents and conducts due diligence on the applicant. Such review is usually completed within 4-6 months. If the application is approved, the final contribution must be paid, property must be rented or purchased and a donation to charity is also to be made.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.