The Maltese government has proposed new changes to Golden visa program, which was previously known as Malta Residency Visa Programme.
The New scheme known as Malta permanent residence program (replacing MRVP) will likely launch soon becoming more cheaper and easier to apply. Once the law is approved, they are expected to come into force effective the 29th of March 2021.
The proposals have been tailored to be more attractive, with the aim of attracting more talent and to encourage applicants to venture into other areas and opportunities which malta offers.
What has changed?
- Malta removed the qualifying investment of €250,000 in Government stocks or bonds which was previously required.
- The Government fee structure has been increased to total €98,000 (if you rent) and €68,000 (if you buy real estate). This replaces previous MRVP Govt fee of €30,000
- NGO charity donation option €2000 has been added
- Investing in Real estate €300,000 now qualifies for Golden visa (previously this was on top of bond investment)
Program Benefits
This program fits well for those who want only permanent residency or green card in the schengen area and don’t want citizenship. For example you restricted from acquiring dual nationality.
- Low administration fees, more cheaper than previous version of program
- Permanent Residency and the right to settle indefinitely;
- Freedom of movement to the Schengen Zone for all applicants;
- Up to four generations can apply for the Programme;
- The right to find employment or to set up a business;
- No minimum stay restrictions.
- Possibility for a path to citizenship (naturalization rules)
Eligibility Criteria (Main Applicant)
A total capital of a minimum of €500,000 net assets of which at least €150,000 in liquidity or other financial instruments. This is a mandatory requirement.
Investment contributions
OPTION 1: RENTING OF PROPERTY
- €40,000 MRVA administration fee;
- €58,000 Government contribution;
- €10,000 Rent in the South of Malta OR €12,000 Rent in the North of Malta.
OPTION 2: PURCHASING OF PROPERTY
- €40,000 MRVA administration fee;
- €28,000 Government contribution;
- €300,000 Property in the South of Malta OR €350,000 Property in the North of Malta.
Donation:
Donation to a Non-Governmental Organisation of €2,000;
Health insurance
The purchase of a Health Insurance covering the Maltese islands for each and every applicant;
Lawyer/Agent fee
Additional depends on the lawyer.
Additional costs for family
- Additional Dependents (parents-in-law & grandparents) – €7,500 per capita;
- Spouse of an already approved main applicant – €7,500;
- Child 18+ of an already approved main applicant – €5,000;
- Minor child of an already approved dependent child/or of an already approved spouse – €5,000;
Please contact us for more information.
