The Residency Malta Agency which regulates the Malta Permanent Residence Programme (MPRP), and the Malta Nomad Residence Permit has issued for the first time statistics on Malta’s residence by investment programme going all the way back to 2016. The statistics cover both the Malta Residence and Visa Programme which has now been repealed and the Malta Permanent Residence Programme which was launched last year.
Through both programmes, a total of 2,273 main applicants were approved together with 5,303 dependants since 2016. The majority of applicants have been Chinese nationals which account to 87% of all approvals, followed by Vietnamese nationals (2.9%), Russian nationals (2.6%), South Africans (1%) and Turks (1%). The remaining 6% of applications hail from various non-EU countries. 2020 was the year in which most approvals were issued making Malta’s residence programme the second biggest European golden visa that year.
The Residency Malta Agency also revealed that it has rejected 10% of all applications submitted while 3% of applications have been withdrawn by the applicants during the due diligence process.
The Malta Permanent Residence Programme
Malta’s Permanent Residence Programme is a residence by investment scheme aimed at non-EU nationals who want to obtain permanent residence in Malta and the right to travel within the Schengen Area without a visa. To be eligible for the MPRP, the applicant must show that he is in possession of capital assets of not less than €500,000 out of which at least €150,000 must be in the form of financial assets.
To participate in the programme applicants must:
- Pay a non-refundable administrative fee of €40,000
- Pay a government fee of €28,000 when purchasing a property or €58,000 when renting a property
- Make a donation of €2,000 to a local cultural, philanthropic, artistic or sport organisation, and
- Purchase or rent a property in Malta
Malta Startup Residence Programme
After the launch of the Malta Nomad Residence Permit in June, Residence Malta Agency is also planning to launch a new programme aimed at third country nationals who wish to incorporate their business in Malta and reside on the island for a permanent basis.
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