How much does the Malta Residence and Visa Program cost?

First things first... You are NOT required to pay the entire amount in one go.

The outlay structure is divided into different sections, namely:
 
  • Contribution to the Government of Malta;
  • Property Purchase or Rental Requirements; and
  • Investment Upon Approval.

 

 

 

MRVP investment-1

 

If you are in this section, this means you are looking for a unique strategy to safeguard your future prosperity and security.

The Malta Residence and Visa Program could be the solution to every query you have.


So what exactly is the Malta Residence and Visa Program (MRVP)?

If you are a third country national, then the MRVP allows you and your family to relocate to Malta. This can be done by taking up a residency by an investment program.

The MRVP can grant you and your family the right to reside, settle and stay indefinitely in Malta. It is done by issuing you with a lifetime Permanent Residency Certificate together with a Malta residence card.

In simple words, you and your family can take up Malta permanent residence through the MRVP.

Given that Malta is a member of the European Union and also the Schengen area, you enjoy unrestricted entry into Malta as well as free movement within the Schengen Area, within the Schengen agreement. This means you can cross internal borders without checks.

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By obtaining MRVP, you are entitled to:
 
  • Visa-free travel within the Schengen area;
  • The right to reside, settle and stay indefinitely in Malta;
  • The eligibility to apply for naturalisation as a Maltese citizen;
  • The possibility of tax benefits under the Global Residence Program;
  • European Long Term Residence permit after 5 years in Malta;
Now that you know what the MRVP is and the benefits it entitles you to,
 
Let us jump to the next big question,
 

What are the eligibility criteria for MRVP?

For you to be eligible for the MRVP you must meet several Malta immigration requirements, namely:
 
  • Be at least 18 years of age;
  • Have an annual income of not less than €100,000 arising outside of Malta, or have a global net worth in excess of €500,000;
  • Have a stable and regular income for maintaining yourself and your family;
  • Have a medical insurance that covers you and your family globally;
  • Have a certificate of good health from a reputable health system;
  • Never been denied a visa to a country with which Malta has visa-free travel arrangements;
  • Not be considered a potential national security risk;
  • Not having a reputational risk; and
  • Not subject to criminal proceedings.
 
You will be required to pay the amounts at different stages of the application.
 
By now you know how you can be eligible and how much MRVP will cost you.
 
Let us move further and discuss;
 

How much Time does the MRVP Process take?

To make it simpler for you, we have created a flowchart to explain the Malta residency application process:
 
MRVP timeline-1

 

Moving on,

Below we have listed some frequently asked questions (FAQs);

 

Q1. What are the tax implications of obtaining Residence in Malta?

Answer: If you are a tax resident of Malta but not domiciled in Malta, then all your income generated in Malta will be taxed. All the foreign source income remitted to Malta will also be taxed. In simple words, you will only be taxed if you become a Malta tax resident. 

Capital gains arising outside Malta will remain non-taxable in Malta even if received in Malta. If you are neither ordinarily resident nor domiciled in Malta, then you’ll be taxed only on income arising in Malta i.e. income having a Malta source.

The Global Residence Program grants you a 15% beneficial tax rate on income received in Malta from foreign sources.

You may also have the possibility to claim relief from double tax treaties. To date, Malta has concluded more than 72 double taxation agreements for the avoidance of double taxation.

Our professional tax advisors can assist you in clarifying all your doubts.

Q2. What is Malta Permanent Residency (and how can it be obtained)?

Answer: It is a scheme designed to attract all individuals and their families to take up permanent resident status in Malta. If you are a non-EU national and have been legally residing in Malta for five continuous years (with some allowable absence) you can be eligible to apply for Long-Term Residency status. This scheme is also known as Long-Term Residency scheme.

Q3. What does Qualifying Property mean?

Answer: Under the MRVP a qualifying property means the acquisition of real estate with a minimum value of €320,000 (€270,000 if located in Gozo or the South of Malta) ) to be held for at least 5 years; or the lease of a residential immovable property in Malta for a period of 5 years, at an annual rent of at least € 12,000. (€10,000 if located in Gozo or the South of Malta).

For more please visit MRVP FAQs page.

Q4. What does Qualifying Investment mean?
Answer: This means €250,000 value in debt or equity securities listed on the Official List of the Malta Stock Exchange. Investment in these securities may also be achieved through an investment in collective investment schemes that are licensed and are on the Official List of the Malta Stock Exchange.
 
Such investment is to be retained for a period of 5 years following the granting of the residency certificate.
 
For more please visit MRVP FAQs page.
 
Q5. What is the requirement for Health Insurance?
Answer: Evidence of possession of Health Insurance in respect of all risk (for a cover of at least 30,000) across the whole of European Union for the applicant and all his/her dependents.
Such insurance policy is to be retained indefinitely.
 
For more please visit MRVP FAQs page.
 

Final Words

Malta’s jurisdiction is an attractive option if you are looking for opportunities to relocate.

If you are thinking of becoming a Resident of Malta, some of the many factors that rank Malta amongst the top ones are:

  • Steady economic growth;
  • Political stability;
  • Its geographical location;
  • Booming sectors including financial services, maritime, aviation, gaming and real estate;
  • Tax efficient systems;
  • One of the world’s safest countries.

Many residents are attracted to this island state every year. They may be freelance professionals who can work remotely or retirees from countries like Northern Europe or the UK.

Everyone who makes a decision to become a resident of Malta is attracted to its natural beauty and architecture; relaxed lifestyle; affordable cost of living along; and its rich historical culture.

 


 

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