April 2021: Malta’s new permanent residency program “Malta Permanent Residence Program (MPRP)” now live.
As announced in our January blog post, the Malta Government has now launched the new Malta Permanent Residence Program (MPRP). The new program is replacing the popular MRVP program which has been phased out.
The new MPRP permanent residency program requires all of the following investments:
1. Government Fee and Contribution. The government’s administrative fee for the new program is EUR 40,000 charged to the main applicant only. In addition, there is a mandatory contribution in the amount of EUR 28,000 (if the main applicant is purchasing a Malta property) or EUR 58,000 (if the property is rented). In addition, there is a EUR 7,500 contribution payable by each dependent parent or grandparent, on either side of the family. The spouse of the main applicant and children of any age are included free of charge.
2. Philanthropic Donation. The MPRP program requires a donation to a Maltese-registered charitable organization in the amount of EUR 2,000 (main applicant only).
3. Property Investment. The required property investment is EUR 350,000 for a purchase in the northern and central parts of Malta, and EUR 300,000 in the south or Gozo. Rental rates are EUR 12,000 per year, or EUR 10,000 per year, respectively.
4. Asset Documentation. The main applicant must demonstrate a minimum net worth of EUR 500,000 of which EUR 150,000 are to be in the form of financial assets such as stocks, bonds, funds and bank deposits.
The new MPRP program is available to married couples, unmarried couples in a long-term relationship, dependent unmarried children of any age, and parents and grandparents on either side of the family.
The main benefits of Malta permanent residency include residing permanently in Malta, as well as enjoying visa-free travel across the Schengen zone. However, the MPRP does not automatically lead to Malta (EU) citizenship. If you prefer Malta citizenship (passport) please contact us about the “Granting of Citizenship for Exceptional Services Regulations” or visit our website for details.
If you have decided that the Malta residency or citizenship is right for you, please contact us for next steps at service @ zenturo.com. We appreciate the opportunity to be of service.
Disclaimer: Because immigration by investment program details can change from time to time please inquire with us regarding the latest rules and regulations for the program of your choice. Our immigration attorneys are government-licensed Authorized Registered Mandatories, a designation required by the Malta Government to file Malta citizenship or residency by investment applications. License: AKM-BALD.
