In 4 weeks’ time Identity Malta will open its doors to the processing of applications for Malta’s newest residency product, The Malta Residence and Visa Programme (MRVP), enacted through Legal Notice 288 of 2015.
A certificate issued by Identity Malta in accordance with these regulations shall entitle the beneficiary of such a certificate and his registered dependants to reside, settle or stay indefinitely in Malta, provided that the required conditions are met.
- Amongst other salient requirements this programme requires a non-refundable administrative fee of 5,500 Euro, which in a successful case is then deducted from the 30,000 Euro contribution that falls due before completion of the process.
- There is a Qualifying property requirement that can be satisfied by either purchasing or renting immovable property in Malta. When purchasing the minimum value is set at €270,000 if situated in Gozo or the South of Malta and €320,000 if situated in Malta. If renting, the minimum rental value is of 10,000 Euro if situated in Gozo or the South of Malta or 12,000 Euro is situated elsewhere in Malta. Such immovable property must be held for a minimum five year period.
- Finally, there is an investment requirement in the minimum value of 250,000 Euro, in instruments prescribed by Identity Malta. Similarly, these too must be held for a minimum 5 year period.
- Importantly, applicants must have a minimum annual income of €100,000 or capital of €500,000, to be evidenced and held for the entire duration of certificate holding.
Beneficiaries of the Global Residence Programme shall be allowed to apply for the issuance of a certificate in terms of this program subject to satisfying all the additional eligibility requirements of these regulations. PKF Malta holds the necessary license and qualification as Accredited Agents under the new program and are at your disposal should you be interested in making further enquiries.
Author Dr Marilyn Mifsud, PKF Malta
Get in touch: firstname.lastname@example.org | +356 21 493 041
For direct enquires kindly contact Dr Marilyn Mifsud LL.D on email@example.com or call on +356 21484373.