The Malta Residence and Visa Programme (MRVP) is a program designed towards reputable third-country nationals who would like to reside and invest in Malta. A beneficiary of the MRVP will be entitled to residency rights in Malta as the receiver will obtain a Malta Residence Permit. The MRVP has become a popular choice for respectable individuals seeking a residence in a safe and stable country for themselves and their families. Malta allows a comfortable living environment in a European Union country with high standards of living. This programme acts as a gateway to Europe to its beneficiaries, providing visa-free access to the European Schengen Area countries.
The new programme falls under the Immigration Act and Identity Malta is entrusted with the running of the programme. Each application has to be administered by a registered approved agent with Identity Malta. Accounting Services Ltd is an Accredited Agent with license number IIP117 and Maltese Authorised Registered Mandatory with license number ARM01937. The programme is available to both the applicant and also their dependants subject to qualifications. Apart from the application forms and various due diligence documents, to qualify, the individual must primarily be a third country national, (meaning nationals coming from non-EU, EEA or Switzerland).
In brief, the programme consists of three tiers of investments:
1. Immovable property
2. Investment in favour of Malta Government
3. Monetary contribution
Full details of the programme in terms qualifications and general requirements of are as follows.
The eligibility criteria are the following:
- At least eighteen years of age
- Meets the application requirements
- Has a clean criminal record, has passed due diligence checks and is a fit and proper person
- Commits to provide proof of title to a qualifying property
- Commits to a qualifying investment of an initial value of €250,000 which must be held for a minimum of period of 5 years from the date of certificate
- Commits to pay in full a contribution of €30,000 in accordance with these regulations
- Has not had his application deemed to be against the public interest
A qualifying property may be either of the following:
- A qualifying owned property purchased at a consideration of not less than €270,000 for a property situated in Gozo or in the south of Malta, or €320,000 for a property situated elsewhere in Malta.
- A qualifying rented property, taken on lease for a rent of not less than €10,000 per annum for a property situated in Gozo or in the south of Malta, or not less than €12,000 per annum for a property situated elsewhere in Malta.
There will be a non-refundable administrative fee of €5,500 on application, 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 €100,000 arising outside Malta or has capital of not less than €500,000.