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February 3, 2021

New Malta Permanent Residence Program

Posted by:
Elevay Global

The Hon. Alex Muscat, Parliamentary Secretary for Citizenship and Communities, announced the intention to introduce a new Permanent Residence Programme to be proposed to parliament over the coming weeks. This is expected to replace the Malta Residency and Visa Programme (MRVP) over the next 3 months.

Changes Considered

  • Commitment to process faster while keeping high standards of due diligence.
  • MRVP to be replaced by Malta Permanent Residence.
  • Termination of Concessionaires’ role.
  • Removal of bonds investment requirement;
  • Increase of Contribution to €68,000 or €98,000 if investor buys / rents property respectively.
  • Property purchase minimum increased to €300,000 (South of Malta or island of Gozo) and: €350,000 for the rest of Malta.
  • Property rental minimum rates remain €10,000 and €12,000 respectively.

Eligibility

Family applications continue to be favoured by the Malta Permanent Residence Programme, allowing the following to be included in a family application for permanent residence:

  • unmarried couples in a long term relationship and
  • dependent unmarried children with no age limit, as well as
  • parents and grandparents on either side

If you are interested in Malta Permanent residency please don’t hesitate and signup to know more through HERE.

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