Changes to the new Malta Permanent Residence Programme (MPRP) regulations implemented.

REAL ESTATE NEWS

29th March 2021

Changes to the new Malta Permanent Residence Programme (MPRP) regulations implemented.

On the 29th of March 2021, the new Malta Permanent Residence Programme (MPRP), replacing the previously successful Malta Residence and Visa Programme (MRVP) Regulations, have come into force.

The new rules - called the Malta Permanent Residence Programme Regulations have been enacted by the Legal Notice 121 of 2021. Effective as of the 29th of March 2021, new applications submitted for the purpose of permanent residency in Malta by investment will fall under the new regulations.
 
With a stable economy and a high standard of living Malta has attracted a lot of foreign interest over the years. The islands strategic position provides easy access to the rest of Europe whilst providing a relaxing Mediterranean lifestyle. For those individuals with a discerning eye, Malta is the Island in the Mediterranean to find a vast array of benefits for those looking for a peaceful yet vibrant way of life with European access and visa-free travel within the Schengen area.

Which investments qualify for the new Malta Permanent Residence Programme (MPRP) regulations?

As with the previous programme, certain investment requirements and contributions will need to be made. These requirements are as follows;

  • A Real Estate Investment – Successful applicants will need to make a property investment, which may take the form of either;
    • A property purchase of no less than EUR350,000 if the property is situated in Malta or if the property is in Gozo or the South of Malta, the minimum purchase value is reduced to EUR300,000.
    • A residential rental lease at a minimum of EUR12,000 per year if the property is situated in Malta or EUR10,000 per annum for a property situated in Gozo or the South of Malta.
  • A Government Contribution – Qualifying applicants will need to make a Governmental contribution. The amount of the contribution is dependent on the type of property investment.
    • If the property is purchased, the contribution will be EUR28,000
    • If the property is rented, the contribution will be EUR58,000
    • If parents or grandparents for the principal applicant or spouse are included, an additional fee of EUR7,500 will be applicable.
  • A Donation of EUR2,000 to a local non-governmental organisation registered with the Commissioner for Voluntary Organisations will also be required.

An administrative fee of €40,000 per application will be applicable, of which €10,000 will need to be paid upon the submission of the application, and the balance (EUR30,000) at the file approval stage.

Who are the qualifying dependants under the new Malta Permanent Residence Programme (MPRP) rules?

Only Third Country Nationals (TCN) can apply for residence under the new Malta Permanent Residence Programme (MPRP) regulations. Third Country Nationals are those individuals who are not citizens of the European Union. EEA nationals and Swiss nationals are not considered to be third-country nationals.

The qualifying dependants are defined as follows:

  • The principal applicant's spouse, as long as it is in a monogamous marriage A monogamous relationship having the same or a similar status to marriage is also acceptable – the so-called de facto partnerships. Also, the term "spouse" shall be gender-neutral;
  • Children under 18 years old, including adopted, of the principal applicant or his spouse;
  • Children over the age of 18 years old, not married, and principally dependent on the principal applicant;
  • Financially dependent parents or grandparents of the principal applicant or of his spouse; or
  • Disabled adult children of the principal applicant or spouse.

Which other requirements are needed to be granted with residence under the Malta Permanent Residence Programme regulations?

The applications must be submitted by an Approved Agent. The Agent needs to perform Tier 1 Due Diligence checks and provide evidence to the Residency Malta Agency that the applicants are fit and proper persons.

Aside from investing in Malta. applicants must have:

  • Regular resources which are sufficient to maintain themselves;
  • Medical Insurance;
  • Assets with a minimum value of no less than €500,000 and a minimum of €150,000 in the form of financial assets.

Can applications be rejected under the Malta Permanent Residence Programme regulations?

All applications undergo stringent due diligence and background check to assess the quality of applicants and their suitability.

Applications can be rejected. Causes for rejection may include but are not limited to the following:

  • Having a previous application for a certificate or an application for Maltese citizenship refused;
  • Not having a clean criminal record;
  • Having pending criminal charges or have been found guilty of any crimes related to;
    • Crimes of terrorism,
    • Money laundering,
    • Funding of terrorism,
    • Crimes against humanity,
    • War crimes,
    • Crimes that infringe upon the Protection of Human Rights and Fundamental Freedoms as established by the European Convention on Human Rights,
    • Paedophilia,
    • Defilement of minors,
    • Rape,
    • Violent indecent assault,
    • Inducing persons under age to prostitution, and
    • Abduction.
  • In the process of or has been listed under international sanctions applying restrictive measures that the Agency is bound by law, or has opted, to follow.

 

 

Back to Archive

Share this Article

Malta Sotheby's International Realty

Launched on the Maltese islands in 2013, Malta Sotheby's International Realty had one clear vision and goal in mind – to offer our clients the highest level of commitment and quality of service in the high-end residential and commercial real estate market throughout the Maltese Islands. We derive our success from local expertise, professionalism, commitment, and discretion to meet any client’s needs. We understand the importance of finding a home that not only suits your needs but suits your vision for the future – a place that facilitates comfort, creativity and familiarity. We realise that a home is much more than a place to live - it is a sanctuary from where we build families and dreams. Our real estate professionals will guide you towards finding your ideal home throughout the entire buying and selling process. The culture of Malta SIR is defined by our knowledgable and dedicated diverse team which spans over multiple nationalities, whether you are a vendor or a buyer we speak your language.

The listing information set forth on this site is based upon information which we consider reliable, but because it has been supplied by third parties to our franchisees (who in turn supplied it to us) , we cannot represent that it is accurate or complete, and it should not be relied upon as such. The offerings are subject to errors, omissions, changes, including price, or withdrawal without notice. All dimensions are approximate and have not been verified by the selling party and cannot be verified by Sotheby’s International Realty Affiliates LLC. It is recommended that you hire a professional in the business of determining dimensions, such as an appraiser, architect or civil engineer, to determine such information.