A new directive targeting third-country nationals to invest in a new or existing start-up shall be implemented in the coming months as announced by Malta’s Finance Minister Clyde Caruana. The new Malta Start-Up Residence Programme will be operated by the Residency Malta Agency and the government agency Malta Enterprise.
What are the Benefits of the Malta Start-Up Residence Programme?
This new programme aims at generating investment opportunities for locals and foreigners by granting Start-up investors a residence permit upon fulfilling the initial requirement to establish a solid project in Malta. Various European countries have already taken the initiative to implement this programme such as France, Italy, Ireland, Denmark amongst many others with Malta being next. Entrepreneurs with the objective to root themselves in Malta, must legally satisfy the relevant criteria pertaining to the programme, yet primarily the investor must present a successful entrepreneurial history together with a strong business objective and proof of success from the applicant’s country of origin.
As investors relocate to Malta, this programme will also give the opportunity to Malta’s young entrepreneurs at university level to participate in research projects, which may further be developed into a start-up business hence creating a remarkable opportunity to intertwine education and work. Similarly, Maltese entrepreneurs would have better access to business opportunities by integrating with foreign investors from all over the globe with a different mindset hence enhancing global diversity within the island and set forth firm innovations which would secure Malta’s economy and the business development sector.
The Introduction to the Blue Med Hub
Malta’s Finance minister also announced The Blue Med Hub initiative. This project is expected to start operating in Malta, offering opportunities for start-ups and small and medium enterprises both foreign and local to establish themselves in Malta. The initial plan is for the hub to collaborate with entities located in the Middle East and Africa.
More details about the Malta Start-Up visa and the Blue Med Hub will be announced in the coming weeks once the Malta Financial Budget for 2022 is implemented.
