Malta Residence and Visa Programme (MRVP)
Beneficiaries under the Malta Residence and Visa Programme (MRVP) will be issued with a Maltese residence certificate, which will entitle the holder to reside indefinitely in Malta. The principle applicant and his dependents will therefore be issued with a five-year e-residence card that will automatically be renewed every five years thereafter.
The card would significantly facilitate the process of obtaining a work permit in Malta and would also allow the holder to travel within the Schengen area, without the need for applying for additional visas.
- be a third country national (TCN) and not a citizen of Malta, the EU, EEA or Switzerland and maintain a health insurance policy;
- be in receipt of an annual income of not less than €100,000 or be in possession of capital (including immovable property) of not less than €500,000.
Phase 1 – Submission of Application
Payment of a one-off Administration Fee (€5,500) to the Identity Malta Agency (IMA) that would cover the due diligence checks. All application documents would be submitted by Kyshen on behalf of the client.
Phase 2 – Due Diligence
The due diligence process takes approximately three months to complete. Upon satisfying the IMA due diligence checks, the applicant will receive a Letter of Approval in Principle and be required to pay a non-refundable contribution fee (€24,500) to the Government of Malta.
Phase 3 – Investment
1. Acquisition of a Qualifying Property in Malta.
In terms of the regulations, a qualifying property is an immovable residential property situated in Malta that is either:
– purchased for a minimum consideration of €320,000 (€270,000 p/a if situated in Gozo or the South of Malta).
– leased for not less than €12,000 per annum (€10,000 p/a if property is situated in Gozo or the south of Malta).
2. Investment for five years in Malta Government Securities (MGS) (minimum €250,000).
Upon request our firm will provide you with the latest list of MGS available for purchase. Interests generated by the MGS may be retained by the holder of the MGS and are usually paid on a semi-annual basis.
The MGS investment and the qualifying property must be retained for a minimum period of five (5) years. Once the initial five-year period has passed the investments may be terminated and the residence certificate retained. A residence in Malta would still need to be retained, however the property would no longer need to meet the minimum requirements of the programme.
Phase 4- Completion and Continuous Obligations
IMA will issue the certificate of residence once the above investments have been fulfilled. The principle applicant will then be able to visit Malta to have IMA capture his biometrics and issue his initial five-year residence card.
The certificate shall be monitored annually for the initial five years, and then once every five years thereafter. The applicant’s respective agent would therefore need to file a compliance form confirming that the conditions above continue to be adhered to. In every five-year period the beneficiaries would need to depart from Malta for a minimum of either six consecutive months or for a total aggregate period of ten months.
Malta Individual Investor Programme (IIP)
The Malta Individual Investor Programme (IIP) is a citizenship by investment programme that was introduced by Legal Notice 47 of 2014. All benefici...