In 2015, the government launched the Malta Residence and VISA Programme (MRVP). The MRVP is available for applicants who are third country nationals (Non-EU/EEA/Swiss) and their dependents.
For an applicant to qualify for the MRVP the following conditions must be satisfied prior to the issuance of the residency certificate:
- Be at least 18 years of age;
- Has an annual income of not less than €100,000 arising outside Malta, or has in his possession a capital of not less than €500,000.
- Has stable and regular resources which are sufficient to maintain him/herself and any dependents.
- Be in possession of a valid travel document
- Be in possession of health insurance in respect of all risk covered for Maltese Nationals
- Must provide a certificate showing that the main applicant and all the dependents are in good health.
- Be in possession of a clean criminal record;
- Have settled the non-refundable Initial Fee of €5,500 for the main applicant and €5,000 for each dependent.
Once the Residency Certificate is approved the applicant must:
- Pay the remaining contribution fee, amounting to €24,500 and €5,000 for any additional adult applicant if applicable.
- Pay card fees of €27.50 per applicant
- Holds title to a qualifying property for at least 5 years which may be either of the following:
- A qualifying owned property purchased at a consideration of not less than €270,000 for properties situated in Gozo and the South of Malta, or not less than €320,000 for properties located in the rest of Malta.
- A qualifying rented property, taken on lease of not less than €10,000 per annum for properties situated in Gozo and the South of Malta, or not less than €12,000 per annum for properties located in the rest of Malta.
- Holds a qualifying investment of a value of €250,000 which must be held for a minimum of period of 5 years
TAXEA is a Registered Approved Agent with extensive experience in applying for MRVP, so contact us today and let us guide you through the process.