The ultimate guide to the Malta Permanent Residence Program

The stunning Mediterranean island nation of Malta is more than just a hit with holidaymakers and has proven to be one of the most sought-after European destinations for years.

The Malta Permanent Residence Program (MPRP) is a government program targeting foreign investors, retirees, and high-net-worth individuals looking to gain residency in an EU state via services of extraordinary value able to have their permanent resident visa certificate granted officially.

In this blog, we will cover every detail about the Malta Permanent Residence Program, like who can apply, how to apply, the benefits of the MPRP program, and what FRR Immigration is doing for their Indian applicants under the MPRP Programme.

What is the Malta Permanent Residence Program?

The Malta Permanent Residence Program (MRPP) is a residency-by-investment scheme designed to enable non-EU/EEA/Swiss citizens and their dependents, who have financially independent resources generated from abroad, as well as entrepreneurs and persons in other specified categories benefiting the Maltese economy. 

Launched in 2021, the program is structured by the Residency Malta Agency and appears to be one of the simplest people-friendly migration programs with a relatively small investment choice as compared to many similar programs. The residency component means that an individual gets all rights here as someone living in Malta.

Eligibility Criteria for the Malta Permanent Residence Program

The requirements for the Malta Permanent Residence Program:

Financial Requirements

• Contribution to the Government: Applicants must pay a government contribution that is non refundable of €68,000 with Purchase Property/€98,000 by Rent.
• Property Investment: Investors need to invest (buy or rent) in a residential or commercial. You will be required to invest a minimum of €300,000 in the south part of Malta or Gozo and €350,000 elsewhere for purchasing. You are looking at a minimum annual lease of €10,000 in South or Gozo, and anywhere else it is €12,000.
• Donation: A mandatory donation needs to be made towards a Maltese-registered philanthropic, cultural and sportive non-governmental organization (fund) amounting to €2,000.
• Proof of Wealth: You must show you have the necessary investment (minimum €500,000 in acceptable forms — at least €150,000 being financial instruments)
• Health Insurance: Applicants and their dependents are to be covered with comprehensive health insurance that covers all the risks across Malta.
• Fit and Proper Test: An elicit inquiry process which is designed around a stringent due diligence standards that will allow only those who have clean police record and no risk to Malta’s reputation.
• Residence Requirement: The Malta Permanent Residence Program does not require the physical residence of an applicant in Malta; however, applicants need to visit at least once during the application process.

The Application Process of the Malta Permanent Residence Program

The Malta permanent residence process consists of several steps, like:

• Engage a Licensed Agent

Application for the MPRP commences with a licensed agent authorized by the Residency Malta Agency. An agent will look after your application and walk you through the whole process.

• Preparation of Documents

You will have to get everything ready, like your ID, financial documents, and health insurance coverage, along with a police conduct certificate. The agent, of course, will help to make sure all that paperwork is within whatever standards the program requires.

• Submission of Application

Your authorized agent will file an application on your behalf with the Residency Malta Agency. This includes a €10,000 due diligence fee that must be paid upon submission.

• Due Diligence Process

The Residency Malta Agency performs a rigorous due diligence check on every applicant. This is an average process time of 4 to 6 months. If approved, a Letter of Approval in Principle will be issued.

• Fulfillment of Investment Requirements

Once you have been granted that ‘in principle approval’, then it is time to fulfill the actual financial commitments, which would be, for example, the purchase or lease of property (investment), government contribution, and donation. Ensure that this is complete within 8 months post-issuance of the approval letter.

• Issuance of Residence Certificates and Cards

Once you have met all investment requirements, you and your dependents will get a residency certificate as proof that you receive the settled status in Malta. Residency cards will also be released, giving you the ability to travel endlessly across the Schengen Zone.

Benefits of the Malta Permanent Residence Program

The Malta Permanent Residence Program offers a host of benefits to successful applicants:

1. Permanent Residency

The MPRP provides Maltese permanent residency rights to the principal applicant, along with their dependents (spouse and children) as well as certain other family members such as parents and grandparents.

2. Visa-Free Travel in the Schengen Zone

This gives you visa-free access to the Schengen Zone, made up of 26 countries in Europe as a resident.

3. Tax Benefits

Malta has a is liberal tax regime with no wealth or inheritance taxes and not annual property taxes. In addition, income which is generated outside Malta and remitted to Malta is not taxed.

4. Access to High-Quality Healthcare and Education

The tax-friendly nation also offers a world-class healthcare system, and it is home to several international schools and universities.

5. Stable and Safe Living Environment

As such, the country is famous for its political stability with a low crime rate and developed standard of living which makes it excellent as a residence for families or retirees or even location-independent business owners.

6. No Minimum Stay Requirements

One of the only residency programs in Malta that does not require a minimum stay, allowing you to live elsewhere but still benefit from Maltese residency.

How FRR Immigration Can Assist You with the Malta Permanent Residence Program

The Malta Permanent Residence Program is much more complex as compared to other residence programs because of various financial & legal requirements. Fortunately, FRR Immigration — a prominent immigration consultancy firm known for its exceptional acumen of residency-by-investment schemes globally has you covered on that front by ensuring the Indian citizens have an absolute hassle-free and straight-forward process to get through all these visa hurdles.

Our team at FRR Immigration is well-versed in processing applications for the Malta Permanent Residence Program and can assist from choosing an appropriate investment route to document collection, sourcing licensed agents & following up compliances. With nuances in the Indian application, our team is devoted to giving every one of you a personalized touch and helping through all stages with extreme professionalism.

So, if you are looking to obtain Malta permanent residency and citizenship, then FRR Immigration can assist you through every step of the application process in a way that guarantees success without stress.

Contact us now for more details on how we can facilitate obtaining a residency in Malta.