The following changes to the Malta Permanent Residence Programme came into effect from the 1st of January 2025:
Eligibility Criteria
1. A Main Applicant shall present evidence of possession of assets having a value of not less than €500,000 out of which a minimum of €150,000 shall be in the form of financial assets or having a value of not less than €650,000, out of which a minimum of €75,000 shall be in the form of financial assets.
2. An adult child of the Main Applicant or of his spouse is eligible as a dependant if at the time of application is over 18 years of age, but not yet attained 29 years of age, not married and principally dependent on the Main Applicant. Note, however, that this change does not apply to adult children eligible to be included on the basis of clause (e) of the definition of a Dependant in terms of the applicable regulations.
Qualifying Property
1. Qualifying owned property must be purchased at a minimum value of €375,000 in Malta or Gozo.
2. Qualifying rented property must be leased at a minimum annual rent of €14,000 in Malta or Gozo.
Administration Fees / Contributions
The following administration and contribution fees will apply:
1. Main Applicant: a non-refundable administration fee of €50,000 applies of which €15,000 need to be paid within 1 month from submission of application; with the remaining €35,000 payable within 2 months from the issuance of a Letter of Approval in Principle.
2. Dependants: fees applicable to dependants have been introduced, including for spouse, children, parents, and grandparents.
A fee of €10,000 for each dependant applies, €5,000 of which is a non-refundable administration fee, payable for every dependant within 2 months from the issuance of the Letter of Approval in Principle when joining at application stage. The remaining €5,000 contribution is paid within 8 months from the issuance of a Letter of Approval in Principle.
If a dependant joins after the issuance of a certificate of residency, the non-refundable administration fee and contribution fee must be paid upon submission of application.
3.The Economic contribution has been revised and will be €30,000 in respect of the Main Applicant who opts for a qualifying owned property (if purchasing property); or a contribution of €60,000 in respect of the Main Applicant who opts for a qualifying rented property; paid within 8 months from the issuance of a Letter of Approval in Principle.
Transition Period
Applications currently being compiled under the regulations prior to the publication of L.N. 310 of 2024 will be accepted until 31st December 2024. At present we do not have any that fall within the transition period.
The Authority will accept submissions until the above-mentioned date with the following minimum required documentation, which include:
1. Form MPRP 1;
2. Form MPRP 10 (for the Main Applicant and each dependant);
3. Power of Attorney;
4. Certified true copies of passports (for the Main Applicant and each dependant); and
5. Declaration signed by the Main Applicant, including the bank details of the primary bank account from which funds will be transferred to Residency Malta Agency.
It is imperative that all remaining documentation be submitted by Friday 28th March 2025. Applications that do not have complete documentation by this date will be considered withdrawn, and the file will be returned to the licensed agent. Note that the due diligence process can only begin once the file is fully complete.
