Your European Journey Starts Here:
Investment Migration is a globally sought-after niche, offering an array of tangible and intangible benefits to affluent individuals, primarily hailing from non-European countries. They are in pursuit of a golden opportunity to acquire a second permanent residency or citizenship in a European nation. Malta, in particular, offers diverse programs designed to attract foreign investments. Among these, the Granting of Citizenship by Naturalisation for Exceptional Services by Direct Investment (S.L. 188.06)stands out as it grants citizenship rights, while the Malta Permanent Residency Programme (MPRP) (S.L. 217.2), ratified and approved by the Government of Malta, offers permanent residency to Third Country Nationals (TCNs).
The Success of Malta’s MPRP:
Since its inception in 2016 by the then ex CEO, Mr Roderick Cutajar now founder off immVest, the Malta Residence and Visa Program (MRVP), now officially known as the Malta Permanent Residency Programme (MPRP), has risen to prominence as one of the leading Residency by Investment (RBI) programs for TCNs seeking relocation to Europe. The Programme’s success can be attributed to the unwavering commitment and professionalism of the local authorities and accredited agents involved, coupled with a robust legal framework that is in force.
It’s important to note that the MPRP is exclusively applicable to TCNs, meaning that European Union (EU), European Economic Area (EEA), and Swiss nationals are ineligible to apply for the program.
Application Process:
Prospective investors interested in MPRP must initiate their applications through an accredited agent. Applicants are not allowed to compile and submit their applications directly to Residency Malta Agency (RMA). Accredited agents are bound to conduct a thorough ‘Know Your Customer’ (KYC) due diligence on the main applicant and their dependents. This process is vital to ensure that there is no prior evidence that could jeopardize the successful completion of the MPRP application. MPRP regulations, Article 7, emphasize that the agent must obtain and submit the correct applicant information and documents at the request of RMA.
Once application forms are received and registered, the RMA undertakes a Completeness and Correctness exercise. This involves scrutinizing and validating each document for missing information or false declarations. In the event of missing information or discrepancies, RMA liaises with the appointed agent or individual for the provision of any needed clarification.
Qualification Requirements:
Main applicants for the MPRP, must meet specific criteria to apply for this permanent residency program. A key prerequisite, is that applicants must be 18 years of age or older at the time of application and in possession of a valid travel document or passport. To satisfy the qualifying criteria as outlined in the MPRP Regulations, the main applicant is expected to have a clean criminal record, a recent police conduct, evidence of possession of assets, having a value of not less than five hundred thousand euro (€500,000), out of which a minimum of one hundred and fifty thousand euro (€150,000) shall be in the form of financial assets. These requirements are mandatory to ensure that the main applicant and their dependents are self-sufficient and will not become a burden to the local society.
Letter of Approval in Principle:
After the file is processed by the staff at RMA, a Letter of Approval in Principle is issued and sent directly to the Accredited Agent. This letter informs the main applicant and dependents that their application to become permanent residents of Malta has been approved in principle, subject to satisfying certain requirements. This process is taking approximately six to eight months.
Qualifying Property:
The main applicant is expected to provide proof of rent or outright purchase of a qualifying property, which must be maintained for five years. Proof of rent of property in the North (min. twelve thousand euro(€12,000)) or located in the South (min. ten thousand euro (€10,000)) of Malta; or; outright purchase of a property in the North (min. three hundred and fifty thousand euro (€350,000)) or South (min. three hundred thousand euro (€300,000)).
Final Steps:
Once all requirements stipulated in the Letter of Approval in Principle are satisfied, RMA proceeds to issue a Letter of Final Approval, along with a Certificate of Residence. Identity Malta then facilitates the printing of MPRP residency cards, typically with a duration of five years.
The applicants are requested to travel to Malta for the biometrics procedure. Pertinent to point out that there are no minimum stay requirements to maintain residency status.
A World of Opportunity:
The Malta Permanent Residency Programme (MPRP) has emerged as a pivotal gateway for high net worth individuals seeking to secure a second permanent residency in Europe. Its robust legal framework, rigorous due diligence, and stringent eligibility criteria ensure that those who gain access to this programme are well-qualified and committed to contributing positively to the Maltese community.
As the MPRP continues to thrive and evolve, it plays a significant role in attracting global investors and expatriates. Its success story is a testament to Malta’s dedication to facilitating foreign investments and fostering economic growth. The programme stands as a symbol of opportunity, bridging borders for individuals who aspire to call Malta their second home, thereby enriching the cultural diversity and economic landscape of this beautiful Mediterranean nation.
For personalized guidance, inquiries, or more information, please feel free to reach out to out at [email protected].