Malta Permanent Residency Program (MPRP): 2024 Guide
What is the Malta Permanent Residency Program (MPRP)?
The Malta Permanent Residence Program (MPRP) is a residency-by-investment program that grants permanent resident status in Malta to third-country nationals (non-EU / EEA / Swiss nationals) along with their approved dependants (spouse / children / grandchildren / parents / grandparents).
Benefits of the Permanent Residency Program (MPRP)
Residency Rights: Beneficiaries and their dependents can reside, settle, or stay indefinitely in Malta. They also gain access to the healthcare system and educational opportunities.
Visa-Free Travel: Holders of the MPRP can travel visa-free within the Schengen Area for 90 days within a 180-day period.
Family Inclusion: The program allows the inclusion of up to four generations in a single application, covering spouses, children (including adopted children), and dependent parents or grandparents.
No Physical Presence Requirement: No requirement to live in Malta to maintain residency status, allowing beneficiaries to use Malta as a “safe haven” or second home.
Tax Advantages: Potential to become a tax resident if spending more than 183 days a year in Malta.
Employment and Business Opportunities: Right to work and do business in Malta. Ability to register a company and become a tax resident in Malta.
No Language Test: No requirement to pass a language test for the application.
How to Get Permanent Residency (PR) in Malta
To be eligible for the Malta Permanent Residence Program (MPRP), applicants should meet the following eligibility criteria and requirements:
MPRP Eligibility Criteria and Requirements
Third-Country National: Applicants must be nationals of countries that are not part of the European Union (EU), European Economic Area (EEA), or Switzerland. This means they are non-EU, non-EEA, and non-Swiss nationals.
Clean Criminal Record: Applicants and their dependents must have a clean criminal record. They must not pose any threat to national security, public policy, public health, or public interest. They must not be subject to international sanctions, and they must not have been denied an application for Maltese citizenship previously.
Sufficient Financial Resources: Applicants must have stable and regular financial resources sufficient to maintain themselves and their dependents without recourse to the social assistance system of Malta.
They must possess capital assets of at least €500,000, out of which a minimum of €150,000 must be in financial assets (such as stocks, bonds, funds, or bank deposits).
This financial requirement must be maintained for the first five years of residence.
Health Insurance: Applicants must possess a health insurance policy that covers all risks normally covered for Maltese nationals for themselves and their dependents. The health insurance must have a minimum coverage of €30,000 per year.
Fit and Proper Individuals: Applicants must undergo thorough due diligence checks to ensure they are fit and proper individuals. This includes background verification, proof of funds, and no involvement in any activities likely to cause disrepute to Malta.
No Benefit from Other Programs: Applicants should not be beneficiaries under other pertinent Maltese regulations and schemes such as the Malta Individual Investor Programme (MIIP) or the Global Residence Programme (GRP).
Licensed Agent Submission: Applications must be submitted via a licensed agent accredited by the Residency Malta Agency. The licensed agent assists with the entire process, including the preparation and submission of the application and documents.
Tax Advisors Malta have registered agents that can assist you with this process. Send us an email to get more information.
Government Contribution and Property Investment: Applicants must pay a non-refundable administrative fee of €40,000. This is typically divided into €10,000 payable upon submission of the application and €30,000 payable within two months from the issuance of the Letter of Approval in Principle.
Property Investment: Applicants can either rent or purchase a property in Malta.
Renting: Applicants can rent a property for a minimum of €10,000 per annum in the South of Malta/Gozo or €12,000 per annum in the rest of Malta.
Purchasing: Alternatively, they can purchase a property for a minimum value of €300,000 in the South of Malta/Gozo or €350,000 in the rest of Malta.
Government Contribution: Applicants must make a government contribution of €28,000 if purchasing a property, or €58,000 if renting a property.
Donation: Applicants must make a donation of €2,000 to a local philanthropic, cultural, scientific, artistic, sport, or animal welfare NGO registered with the Commissioner of Voluntary Organisations.
Additional Fees: Applicants must pay an additional fee of €7,500 for each additional adult dependent (parent or grandparent) of the main applicant and/or spouse who is principally dependent on the main applicant.
Valid Passport: Provide a valid passport.
Property Maintenance: Maintain the qualifying property for a minimum period of five years. After 5 years you must continue to have a residential address in Malta, but this can be a different property, and there are no specific investment requirements for this new property as long as it is a genuine residential address.
Compliance: Ensure compliance with all the rules and regulations set by the Residency Malta Agency and the government of Malta.
Summary of Financial Commitments for the MPRP
Renting
- Pay a non-refundable administrative fee of €40,000.
- Rent a property (minimum €10,000 annually in the south of Malta/Gozo or €12,000 in the rest of Malta)
- Make a government contribution of €58,000
- Donate €2,000 to a local NGO.
- Pay €7,500 for each additional dependent parent or grandparent.
Minimum Total if Renting: €150,000 – €160,000
Purchasing Property
- Pay a non-refundable administrative fee of €40,000.
- Purchase a property (minimum €300,000 in the south of Malta/Gozo or €350,000 in the rest of Malta).
- Make a government contribution of €28,000.
- Donate €2,000 to a local NGO.
- Pay €7,500 for each additional dependent parent or grandparent.
Minimum Total if Renting: €370,000 – €420,000
*These calculations do not include additional costs for dependents, such as €7,500 for each additional dependent parent or grandparent.
How Long Does it Take to Process an Application for the MPRP?
The processing time for an application under the Malta Permanent Residency Program (MPRP) typically ranges from 4 to 6 months from the submission of a complete and correct application. However, this timeline may be affected by the volume of applications and the specific details of each case.