Malta Residency and Visa Programme (MRVP)

In 2015 Malta has launched The Malta Residence and Visa Programme (MRVP) which is available for applicants who are third-country nationals and their dependants. The residence permit issued under this programme provides the beneficiary and his/her dependants the right to reside, settle or stay in Malta, indefinitely plus the ability to freely move around the countries in the Schengen Area. It also provides them with the opportunity to live in a country with a moderate cost of living with direct access for the beneficiary and any approved dependant of age, to apply for a work permit. It also provides the opportunity and the ability to live in a safe country which is both politically and economically stable, along with access to high-level educational institutions and access to renowned English Schools.

 

Under the MRVP regulations, the following are considered as dependants of the main applicant:

  • The spouse of the main applicant in a monogamous marriage or in another relationship having the same or a similar status to marriage;
  • A child, including an adopted child, of the main applicant or of his spouse who is less than 18 years of age;
  • A child of the main applicant or of his spouse who is between the age of 18 and 26 years and who is not married and who proves, to the satisfaction of the Minister, that he is not economically active and is principally dependent on the main applicant;
  • A child, including an adopted child, of the main applicant or of his spouse, who at the time of application is not yet born or not yet adopted by the main applicant or by his spouse, and is born or becomes so after the appointed day;
  • A parent or grandparent of the main applicant or of his spouse who proves to the satisfaction of the Minister that he is not economically active and is principally dependent on the said person;
  • A child of the main applicant or of the spouse of the main applicant who is at least 18 years of age, and who has been certified by a recognized medical professional as having a disability in terms of the Equal Opportunities (Persons with Disability) Act and who is living with, and is fully supported by, the main applicant;

An applicant would need to meet the following conditions in order to qualify for the Malta Residence Visa Programme:
1. Qualifying property
The applicant must own a qualifying property of at least €320,000 if the property is situated in the north or central of Malta, and €270,000 for property situated in Gozo or the south of Malta. Other than, owning a property in Malta the applicant may rent a property for at least €12,000 per annum if the property is situated in the north or central, and €10,000 if the rented property is in Gozo or the south of Malta.
2. Not a beneficiary of another tax programme
The applicant is not already benefitting from any of the below tax programmes:

  • The Residents Scheme Regulations;
  • The High Net Worth Individuals (EU/EEA/Swiss Nationals Rules);
  • The Malta Retirement Programme Rules;
  • The Residence Programme Rules;
  • The Qualifying Employment in Innovation and Creativity Rules or
  • The Highly Qualified Persons Rules.

3. Age
The applicant must be at least 18 years of age.
4. Annual income
Has an annual income of not less than €100,000 arising outside of Malta, or has in his possession a capital of not less than €500,000
5. Self-economic sufficient
Has stable and regular resources which are sufficient to maintain him/herself and any of his/her dependants.
6. Valid travel document
Be in possession of valid travel documents.
7. Sickness insurance
Be in possession of health insurance in respect of all risks covered for Maltese Nationals.
8. Fit and proper test
Be in possession of a Clean Police Conduct from one’s birthplace and any other country the applicant and his/her dependant/s have resided in for longer than 6 months in the past 10 years.
9. Health
Has to provide a certificate from a reputable health system proving that the main applicant and all his / her dependants are otherwise in good health and will not be an unreasonable burden on the national health system.
10. Investment
Holds a qualifying investment of not less than €250,000 for a minimum of 5 years from the date of issuance of the Residency Certificate.
Tax Treatment
A person taking up residency through the MRVP will not automatically be considered a tax resident in Malta and hence not necessarily subject to tax in Malta. For a person to be considered as tax resident in Malta, he/she would need to reside in Malta and having Malta as his/her principal home. Should a person be considered as a tax resident in Malta, he/she would be subject to tax as an ordinary resident not domiciled individual.
Application
Upon submission of the application for the Malta Residence Visa Programme to the Maltese authorities for their verifications, a non-refundable administrative fee of €5,500 for the main applicant has to be paid. If the applicant has dependants, apart from his/her children and his/her spouse, an additional €5,000 for each dependant is to be paid. An application for the MRVP can only be submitted to the relevant authorities through a registered accredited person or an approved agent.

 

When the Residence Certificate is approved, the applicant would be required to pay a contribution fee of €30,000 less the non-refundable administration fee of €5,500 paid upon submission.

 

Once the authorities are satisfied that the contribution is paid in full and provided with all the required documentation, a certificate is issued.

 

The certificate is monitored annually for the first five years from its issue, and every five years thereafter.

 

At Brainston Advisory we can assist you with your application for residency in terms of the Malta Residence Visa Programme Rules.