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THE MALTA GOLDEN VISA (MALTA PERMANENT RESIDENCE PROGRAMME (MPRP))

The Malta Permanent Residence Programme (MPRP), also known as the Malta Golden Visa Programme, provides foreign nationals the chance to secure residency in Malta. With a robust legal framework and a favorable investment climate, Malta is a highly desirable destination for those seeking long-term stability and access to Europe. Additionally, the island enjoys excellent air connections, making travel to and from Europe and beyond both accessible and convenient.

MALTA GOLDEN VISA PROGRAMME

Malta, a picturesque Mediterranean archipelago, offers the Malta Permanent Residence Programme (MPRP), commonly known as the Malta Golden Visa. This residency-by-investment program allows non-EU, non-EEA, and non-Swiss nationals to obtain permanent residency in Malta through investments in property and contributions to the government.

The program not only provides residency but also grants holders the right to enjoy visa-free travel within the EU and the Schengen Area, making it an attractive option for those looking for greater mobility in Europe.

Established in 2021, the Malta Golden Visa Programme is designed to attract investors, high-net-worth individuals and their families. The program has gained considerable attention from international investors looking to secure residency in an EU member state known for its strong economy, high quality of life, and strategic location in the heart of the Mediterranean.

Permanent residence by investment in Malta was previously available through the Malta Residence and Visa Programme (MRVP). However, on 29th March 2021, it was replaced by the current Malta Permanent Residence Programme (MPRP), which is regulated under the Malta Permanent Residence Programme Regulations (L.N. 121 of 2021).

MALTA GOLDEN VISA INVESTMENT REQUIREMENTS

There are three requirements to satisfy: 

Property

• 1.1. The applicant must either purchase a property in Malta or Gozo for a minimum value of €375,000, or
• 1.2. Rent a property in Malta or Gozo for a minimum value of €14,000 per annum

Once the property is acquired it must be retained for a period of at least 5 years from obtaining the citizenship.

Contribution of: 

•         2.1. €30,000 payable to the Maltese government if purchasing a property, or
•         2.2. €60,000 payable to the Maltese government if leasing a property

                  In both cases the applicable fee for each added dependent is €10,000.

Donation – €10,000 one-time charitable donation to a local philanthropic, cultural, scientific, artistic, sport or animal welfare NGO registered with the Commissioner of Voluntary Organisations.

BENEFITS OF MALTA GOLDEN VISA

• Fast acquisition – within 4 to 6 months;
• Grants individuals the right to settle, live, and remain permanently in Malta;
• Residents can enjoy visa-free travel across the EU and the Schengen Area for up to 90 days within any 180 day period in a year;
• Allows applicants to include up to four generations in a single application;
• Tax Benefits, with Malta offering an efficient tax system for residents;
• Investment required only for first five years;
• Range of top-tier international schools offering various curricula;
• World-class healthcare;
• Low crime rate.

ELIGIBILITY FOR MALTA GOLDEN VISA 

• Must be nationals from third countries, not part of the EU, EEA, or Switzerland;
• Should not originate from countries under sanctions as periodically specified by the Agency;
• Must not receive benefits from other relevant regulations and programs.
• Must demonstrate stable and regular financial resources sufficient to support themselves and their dependents without relying on Malta’s social assistance system;
• Must show capital assets of at least €500,000, with a minimum of €150,000 in financial assets; or show capital assets of at least €650,000, with €75,000 in financial assets.
• Must be individuals deemed fit and proper with a clean criminal record;
• Must not present any potential threat to national security, public policy, public health, or public interest;
• Must hold a valid travel document;
• Must obtain a health insurance policy covering all risks in Malta and other European countries

MALTA GOLDEN VISA APPLICATION PROCESS

1. The initial step involves onboarding the client and providing basic due diligence documentation, such as, passport, utility bill as proof of address, application form and a signed CV.
2. Collecting all required forms and supporting documents is the second step. Ultimate Consultancy assists you throughout this process. After the application is finalised, it is submitted to Residency Malta. Following submission, rigorous due diligence checks are conducted.
3. Once the application successfully clears the due diligence checks, an approval in principle is granted. This process may take approx. 16 weeks.
4. Applicants and their dependents are required to travel to Malta to provide their biometric data, which is necessary for the issuance of their Maltese residency cards.
5. The main applicant is required to fulfil the necessary investments, which include purchasing or renting a residential property, paying the government contribution, and making a donation to a registered Maltese voluntary organisation (VO) or non-governmental organisation (NGO).

RENEWAL OF MALTA GOLDEN VISA

Residence cards are initially issued for a period of 5 years. However, if a minor dependent reaches the age of 14 or 18 during this time, the card’s validity will expire on the dependent’s birthday.

Renewal requests after the initial 5-year period must be submitted through the designated agent. Since biometric data needs to be recaptured for the extension, all beneficiaries are required to be physically present in Malta to provide their biometric information after the first five years of residency. A renewal fee of €27.50 per year applies for this process.

WHO CAN APPLY FOR MALTA GOLDEN VISA

Only Third Country Nationals are eligible to apply for residence under the Malta Permanent Residence Programme (MPRP) regulations. For the purposes of these regulations, Third Country Nationals are defined as individuals who are not citizens of the European Union (EU). Nationals of the European Economic Area (EEA) and Switzerland are not considered Third Country Nationals and therefore do not qualify under this program.

In addition to the principal applicant, individuals who qualify as dependents under Legal Notice (L.N.) 121 of 2021, are also eligible to apply. The qualifying dependents are defined as follows:

• Spouse or Partner: The legally married spouse or partner in a monogamous marriage and stable relationship that has similar status to marriage with the principal applicant. For the purposes of the Malta Permanent Residence Programme (MPRP), the term “spouse” is defined as gender-neutral. This means that it applies equally to individuals in a legally recognised marriage, regardless of gender. The definition ensures inclusivity and aligns with the principles of equality under the MPRP regulations.
• Children: Minor children under 18 years of age (including adopted) of the principal applicant or their spouse/partner.
• Adult children (18 years or older) who are financially dependent on the principal applicant, are unmarried, and are pursuing full-time education or training.
• Disabled adult children of the principal applicant or their spouse are also considered qualifying dependents under the Malta Permanent Residence Programme (MPRP) regulations. To qualify, these individuals must be financially dependent on the principal applicant and provide appropriate documentation to substantiate their disability and dependency. This inclusion ensures that the MPRP accommodates the needs of families with dependents who require long-term care and support.
• Parents or Grandparents: The parents or grandparents of the principal applicant or their spouse/partner, provided they are financially dependent on the principal applicant.

 

MALTA GLOBAL RESIDENCE PROGRAMME (GRP)

The Malta Global Residence Programme (GRP) is designed to meet the needs of private clients, specifically targeting high-net-worth individuals from outside the European Union (EU), European Economic Area (EEA), or Switzerland who are interested in obtaining tax residency within the EU. The GRP offers a streamlined pathway for eligible individuals to establish residency in Malta, benefiting from the country’s favorable tax regime and high quality of life. This program is particularly attractive to wealthy individuals seeking to relocate or secure a secondary residence in a stable, EU-member country.

MALTA GLOBAL RESIDENCE MAIN REQUIREMENTS

Applicant needs to purchase or rent property in Malta

Under the Malta Global Residence Programme (GRP), applicants are required to purchase a property in Malta to qualify for residency. The minimum purchase value depends on the location of the property:

• €220,000: If the property is located in Gozo or the South of Malta.
• €275,000: If the property is located in other parts of Malta.

This property must be maintained for the duration of the residency status under the GRP. 

Alternatively, applicants may choose to rent a property for a minimum of €8,750 per year in Gozo or the South of Malta or €9,600 per year in other parts of Malta. 

These requirements ensure that applicants have a stable and secure residence in Malta while contributing to the local real estate market.

Application Fees

Non-Refundable Application Fee:

• €5,500: If the property is purchased in Gozo or the South of Malta.
• A higher fee applies if the property is located in other parts of Malta (typically €6,000).

Represented by Authorised Registered Mandatory

The applicant and their dependents must be represented by an Authorised Registered Mandatory (ARM) under the Malta Global Residence Programme (GRP). The ARM is responsible for providing guidance, assisting with the application process, and ensuring that all requirements are met. This representation is mandatory, and the ARM plays a key role in facilitating the application to secure tax residency in Malta under the GRP.

Third-country nationals

Applicants must be third-country nationals, meaning they cannot be citizens of the European Union (EU), European Economic Area (EEA), or Switzerland. Individuals with dual citizenship, including citizenship from any of the aforementioned regions, are also excluded from applying under the GRP. Applicants must not reside in any other jurisdiction for more than 183 days in a calendar year. This ensures that Malta remains their primary tax residency under the GRP.

Not benefiting from other tax programmes

Applicants interested in applying under the Malta Global Residence Programme (GRP) must not be benefiting from any other special tax programs or regimes. This requirement ensures that individuals do not simultaneously avail themselves of multiple tax benefits, maintaining the integrity of the GRP and compliance with Malta’s tax residency rules. Applicants must confirm that they are not participating in any other tax programs when submitting their application under the GRP.

Financially Self Sufficient

Applicants under the Malta Global Residence Programme (GRP) must demonstrate that they have a stable and regular income sufficient to support themselves and any dependents without relying on Malta’s social assistance system. This requirement ensures that applicants are financially self-sufficient and capable of maintaining their livelihood and that of their family members while residing in Malta. Proof of income, such as employment, business, or investment income, may be required to substantiate this criterion during the application process.

Health Insurance

The applicant must have comprehensive sickness insurance that covers all risks typically covered for Maltese nationals. This ensures that the applicant and their dependents have access to healthcare without burdening Malta’s public health system.

Valid Travel Document

The applicant must hold a valid passport or other recognised travel document.

Language Proficiency

The applicant must be able to communicate adequately in English, which is an official languages of Malta. This ensures ease of integration and communication within the country.

Fit and Proper

The applicant must be deemed a fit and proper person, meaning they must have a clean criminal record and meet the ethical standards required by the program. This is assessed through due diligence checks conducted during the application process.

QUALIFYING DEPENDANTS

In addition to the main applicant, the following qualifying dependents are eligible to be included in the application:

• Spouse or Partner: The legally married spouse or a partner in a long-term, stable relationship with the main applicant.
• Biological or Adopted Children: Minor Children (under the age of 18 years old) and Adult Children: Children aged 18 or older who are financially dependent on the main applicant, unmarried, and pursuing full-time education or training. Adult children who are unable to support themselves due to serious illness or disability are also considered qualifying dependents.
• Dependent relatives in the ascending line of the applicant or his spouse.
• Parents or Grandparents: The parents or grandparents of the main applicant or their spouse/partner, provided they are financially dependent on the main applicant.
• Housekeeping staff that have been with the family for at least 2 years from the date of application.

These dependents must meet the criteria outlined in the GRP regulations and be included in the main applicant’s application. The inclusion of dependents makes the program particularly appealing for families seeking to establish residency in Malta together.

MALTA GLOBAL RESIDENCY PROGRAMME APPLICATION PROCESS

When applying for residency in Malta through programs like the Global Residence Programme (GRP) or other similar schemes, the process involves several key steps, including due diligence and meeting the property requirement. Here’s a breakdown of what happens after the Commissioner issues a Letter of In-Principle Approval:

1. Due Diligence and In-Principle Approval

Once your application is submitted, the Maltese authorities conduct a thorough due diligence process to verify your background, financial standing, and eligibility for the program.

If the due diligence is successful, the Residency Malta Agency (or the relevant authority) will issue a Letter of In-Principle Approval. This letter confirms that your application has been preliminarily accepted, pending the fulfillment of certain conditions.

2. Property Requirement 

At this stage the Applicant must fulfill the property requirement stipulated above.

3. Submitting Proof of Property Acquisition

Once you have purchased or rented a qualifying property, you must provide proof of the transaction to the Residency Malta Agency. This typically includes:

• A copy of the final deed of purchase (if buying) or the lease agreement (if renting).
• Proof of payment, such as bank transfers or receipts.
• A property valuation report from a licensed architect or surveyor, if required.

4. Final Approval and Residency Certificate

After the property requirement is satisfied and all documents are submitted, the authorities will issue the final approval and grant you a residency certificate.

This certificate confirms your status as a Maltese resident and allows you to enjoy the benefits of the program, including favourable tax treatment and access to Malta’s healthcare and education systems.

5. Maintaining Residency

To maintain your residency status, you must:

• Retain ownership or rental of the qualifying property.
• Pay the minimum annual tax liability (€15,000 for the main applicant, with additional amounts for dependents).
• Spend a minimum of 90 days per year in Malta (averaged over five years) to maintain tax residency.

TAX BENEFITS OF MALTA GLOBAL RESIDENCE

Applicants taking up residence in Malta through the Global Residence Programme (GRP) benefit from a special and favourable tax status, which includes the following tax advantages:

• Flat Tax Rate
• Non-domiciled individuals who become tax residents in Malta under the GRP are subject to a minimum annual tax liability of €15,000. This amount increases if dependents are included (e.g., €25,000 for a spouse and children).
• Tax on Foreign Income Remitted to Malta
• Only foreign income that is remitted to Malta is subject to tax at the flat rate of 15%.
• Income from Malta which is received in Malta shall be charged at 35%.
• Foreign income not brought into Malta is not taxed – 0% tax, providing significant tax efficiency for individuals with overseas income.
• No Wealth or Inheritance Taxes
• Malta does not impose wealth, inheritance, or gift taxes, making it an attractive destination for high-net-worth individuals.
• Double Taxation Treaties
• Malta has an extensive network of double taxation treaties, which can help reduce or eliminate the risk of being taxed twice on the same income.
• Capital Gains Tax Exemptions
• Capital gains arising outside Malta are not taxed in Malta, even if remitted to the country. This is a significant benefit for investors and individuals with international assets.
• Tax-Free Allowances and Deductions
• Residents may benefit from certain tax allowances and deductions, further reducing their taxable income.
• Stable and Transparent Tax System
• Malta offers a stable and transparent tax regime, which is appealing to individuals seeking long-term residency in a secure jurisdiction.

OTHER BENEFITS

Health System

Malta’s outstanding healthcare system is one of its most significant advantages, earning it a 5th-place ranking among 100+ countries by the World Health Organisation (WHO). Malta’s public healthcare system is funded through taxation and provides free or heavily subsidized medical services to all residents, including expats who contribute to the system. Mater Dei Hospital: Malta’s largest and most advanced public hospital, offering a wide range of medical services and specialized treatments. Malta also boasts a robust private healthcare sector, which offers fast access to medical services, shorter waiting times, and a more personalized patient experience. Healthcare in Malta is accessible and affordable, with both public and private options available to residents.

Language

English as an official language and an English speaking population.

Political Stability

Malta’s excellent political stability and its status as a member state of the Schengen Area are significant advantages for residents and expats. Here’s a closer look at what these benefits entail:

Malta is known for its stable and democratic political environment, with a long history of peaceful governance and a strong rule of law. As a member of the European Union (EU) since 2004, Malta adheres to EU regulations and standards, ensuring a high level of transparency, security, and economic stability.

The country’s government is committed to fostering a business-friendly environment, attracting foreign investment, and maintaining a high quality of life for its residents.

Schengen Area Membership

Malta is part of the Schengen Area, which allows for borderless travel between 26 European countries. This includes popular destinations like France, Germany, Italy, Spain, and Greece.

As a resident of Malta, you can enjoy freedom of movement within the Schengen Zone, making it easy to travel for business, leisure, or family visits without the need for additional visas or border checks.

This is particularly beneficial for expats and global citizens who value the ability to explore Europe seamlessly.

EU Membership Benefits

Malta’s EU membership provides residents with access to a wide range of economic, social, and legal benefits, including:

The right to live, work, or study in any EU country.

Protection under EU consumer rights and data privacy laws.

The country also uses the Euro (€) as its currency, simplifying financial transactions and trade within the Eurozone.

Strategic Location in the Mediterranean

Malta’s central location in the Mediterranean makes it a gateway to Europe, North Africa, and the Middle East.

The island’s excellent air and sea connections provide easy access to major European cities, with flight times as short as 1-3 hours to destinations like Rome, London, Paris, and Barcelona.

Safe and Secure Environment

Malta is consistently ranked as one of the safest countries in the world, with low crime rates and a strong sense of community.

The country’s political stability and EU membership contribute to its reputation as a secure and reliable place to live and do business.

Global Residence Programme (GRP) and Freedom of Movement.

Through Malta’s Global Residence Programme (GRP), non-EU nationals can obtain residency and enjoy the benefits of living in a politically stable, Schengen-member country.

This includes the ability to travel freely within the Schengen Area, making Malta an ideal base for those who value mobility and connectivity.

Why Malta Stands Out

Malta combines the advantages of political stability, EU and Schengen membership, and a high quality of life in a stunning Mediterranean setting.

Whether you’re looking for a safe and stable environment to raise a family, a strategic base for business, or a gateway to explore Europe, Malta offers unparalleled opportunities.

Vibrant Lifestyle

Malta offers a lively and vibrant lifestyle on a sunny Mediterranean island, making it an ideal destination for those seeking a perfect blend of relaxation, adventure, and culture. Here’s what makes Malta so special:

     1.Sunny Weather and Stunning Seas

Malta enjoys over 300 days of sunshine annually, with mild winters and warm summers, making it a year-round destination for outdoor activities.

The island is surrounded by the crystal-clear Mediterranean Sea, offering breathtaking beaches, hidden coves, and some of the best diving and snorkeling spots in the world.

2. World-Class Diving Destination

Malta is regularly voted the second-best diving destination globally, thanks to its clear waters, fascinating underwater landscapes, and numerous shipwrecks.

Popular dive sites include the Blue Hole, Um El Faroud, and the Underwater Arch, attracting divers of all levels.

3. Rich History and UNESCO World Heritage Sites

Malta is home to three UNESCO World Heritage Sites:

Valletta: The capital city, known as the “Fortress City,” is a treasure trove of Baroque architecture, historic landmarks, and cultural events.

Ħal Saflieni Hypogeum: An underground prehistoric burial site dating back to 4000 BC, offering a glimpse into Malta’s ancient past.

Megalithic Temples: Including Ġgantija, Ħaġar Qim, and Mnajdra, these are some of the oldest free-standing structures in the world, predating the pyramids of Egypt.