The MPRP is a well crafted residency-by-investment programme based on investments in property and government contributions. The success of the Programme lies in the all-round value it offers individuals and families wishing to make Malta their home away from home.
Residency Malta Agency is the Government entity responsible for managing and promoting Malta’s residency by investment program (aka Golden visa), by applying a stringent four-tier due diligence process that ensures the most meticulous of screening to attract quality individuals.
Eligibility
To participate in the MPRP program, third country nationals must be able to:
- Submit an application via a Licensed Agent;
- Pay a non-refundable administrative fee of €40,000;
- Rent a property for a minimum of €10,000 in the South of Malta/Gozo or €12,000 in the rest of Malta; or
- Purchase a property for a minimum value of €300,000 in the South of Malta/Gozo or €350,000 in the rest of Malta;
- Pay a Government contribution of €28,000 if purchasing a property or €58,000 if leasing a property;
- Pay €7,500 for each additional parent or grandparent of the Main Applicant and/or spouse who is principally dependant on the Main Applicant;
- hold the qualifying property for a minimum period of 5 years after which a residential address is required;
- 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;
- Be in possession of a valid travel document;
- Take out a health insurance policy to cover all risks in Malta and other European countries;
Process Flow
The Process Flow of the Malta Permanent Residence Programme requires attention from investors applying for the programme. The whole process from application to residence permits may take 6-8 months including one visit to Malta.
Below is an explanation of what happens in each step:
1. Power of Attorney
This is the first step in the application process. Through the signing of the POA document the Main Applicant empowers the licensed agent to act on his/her behalf in terms of MPRP
2. Submission of Application Pack
The licensed agent is required to submit application pack on behalf of the applicant. The file submitted to Residency Agency must be complete and accurate, a receipt will be issued as confirmation for submission.
3. Due Diligence
The Agency applies rigorous scrutiny via a four-tier due diligence process in order that only persons and families of repute are attracted to the Programme. Residency Malta Agency and the licensed agent share the responsibility of verifying Submission of application pack are complete and correct. As a first step, the agent applies KYC on applicants. The Agency’s team then employs the second tier of due diligence. The application’s completeness identifying anomalies that highlight any potential risk. The documentation submitted to the Agency is checked in its entirety to ensure validity, for example of notarised and apostilled documents and translations. Applications with missing documentation are paused until the agent submits them of behalf of his client.
The third step is obtaining clearance from police authorities following including checks against Interpol and Europol data.
A thorough and in-depth online investigation is then undertaken. International databases are consulted to check for sanctioned individuals and companies. Searches are conducted on all family members applying for residency, their corporate partners and associates.
The agency’s analysts finally put together applicants ‘story’. In cases where more clarity applicant to ensure it has the right and proper picture of the family’s application. Where necessary, information is bounced back with the due diligence companies to ensure coherence.
4. Issuance of a Letter of Approval in Principle or Rejection
The final applicants file is presented to the approvals board to take a final decision on the outcome of application. If the decision is one of rejection, a letter of rejection is issued. If the decision is one of approval, a Letter of Approval in Principle (LAP) is issued.
5. Make Investments
The next step in the process is for the applicant to settle the investment required under the MPRP terms. MPRP. Applicant should purchase the property or lease it out, make the donation to the registered NGO/organisation of choice and settle the contribution to the Government.
6. Biometric data taking and issuance of Residency Card
Once the LAP (Letter of approval) is issued, applicants and any dependants included in the application may travel to Malta for recording biometrics. Agents should make an appointment for biometrics through our online booking system, accessed via Appointments via email or phone calls are not entertained. The biometric data is tied to the issuance of a residency card, this is not a mandatory step in the application process. The residency card is valid for 5 years, renewable thereafter with the exception of minors turning 14 or 18 years. Minors approaching their 14th or 18th birthday will have a residency card valid up until a month before their birth date.
7. Annual Compliance
On yearly basis, the agency will ask the agent to submit beneficiary proof of property lease via the presentation of a contract of lease, as well as proof of sickness insurance cover via presentation of annual policy. This recurs annually for the first five years whenever the agency deems necessary at its discretion
