New Malta Permanent Residence Program

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.