The Maltese Government through LN 121 of 2021 has published the Malta Permanent Residence Regulations which lay down the framework for the acquisition of Maltese permanent residency through this programme. The regulations stipulate the eligibility and investment requirements of the MPRP. The new Legal Notice replaces the previous Malta Residence and Visa Programme Regulations which were regulated by Legal Notice 288 of 2015 as subsequently amended.
These regulations grant successful applicants and their family members a permanent residence status in Malta which allows them to stay indefinitely in Malta subject to fulfilling a number of requirements. These regulations apply only for non-EU/EEA nationals and hence EU/EEA nationals are not eligible to submit applications under the MPRP.
Malta Permanent Residence Programme – Benefits
There are various reasons why applicants apply for residence under the MRVP. These include:
- The right to live, work and stay in Malta
- Access to high quality education and healthcare
- Investment in a sound real estate market
- Visa Free Travel within the Schengen Area allowing holders of a Maltese residence card the right to stay in another Schengen country for 3 months in every 6-month period
- The possibility of applying for Maltese citizenship through naturalisation after 5 years residing in Malta and evidence of a genuine link.
Malta Permanent Residence Programme – Eligibility
The MPRP Regulations require the main applicant to demonstrate economic self-sufficiency by providing evidence of holding at least €500,000 of capital, out of which €150,000 should be in the form of financial assets. In addition, the applicant must demonstrate evidence of his source of funds and wealth as well as a clean police record. The Maltese authorities are committed to the highest standard of due diligence to ensure only deserving and reputable applicants are allowed to proceed for the grant of Maltese residency under the MPRP.
Malta Permanent Residence Programme – Requirements
The MPRP Regulations allows for the granting of permanent residency in Malta through a certificate of permanent residence to individuals and their families who contribute to the economy of Malta by means of an investment in real estate (rental or purchase), a contribution to the Government of Malta as well as a donation to a charitable institution or NGO. Applicants are required to fulfil all the three requirements.
- Government Contribution: €68,000 when purchasing a property or €98,000 when renting a property.
- Charitable Donation: €2,000 to a registered charity or NGO
- Property Investment
a. Rental Option: Minimum €10,000 if property is located in Gozo or the South of Malta or Minimum €12,000 if property is located in Central or Northern Part of Malta
b. Purchase Option: Minimum €300,000 if property is located in Gozo or the South of Malta or Minimum €350,000 if property is located in Central or Northern Part of Malta
Malta Permanent Residence Programme – Taxation
Malta’s tax system is based on domicile and residence. Residence for tax purposes in Malta is established either by residing in Malta for more than 183 days or by showing an intention to reside in Malta indefinitely. Individuals who are non-tax residents of Malta and not domiciled are taxable only on Malta source income and gains. Non-domiciled Maltese residents are taxable on a remittance basis only on foreign source income transferred to Malta and only to the extent remitted, subject to a minimum tax of €5,000. The minimum tax only applies to individuals and couples who earn at least €35,000 of annual income arising outside Malta.
