Malta’s New Permanent Residence Programme Replaces the Malta Residence and Visa Programme

Malta’s New Permanent Residence Programme https://www.riftrust.com/news-blog/malta-s-new-permanent-residenceprogramme-replaces-the-malta-residence-and-visa-programme/

• On March 29th, 2021, the new Malta Permanent Residence Programme (MPRP) was officially opened to receiving new residence by investment applications following the overwhelming success of the previous version known as the Malta Residence and Visa Programme (MRVP).

• The Malta Permanent Residence Programme is open to non-EU nationals, including UK citizens following Brexit, and gives individuals and families the opportunity to reside or settle indefinitely as a permanent resident in Malta and the right to visa-free travel within the 26 EU Schengen countries.

• Main applicants can include their spouse, children, parents, (including parents in law) and grandparents within their application.

• To qualify, the main applicant will need to declare that he/she is in possession of a minimum of €500,000 in capital assets. Of which, €150,000 must be shown as available financial assets.

• Applicants must demonstrate the ability to financially support themselves and their family members, secure property and health insurance as well as provide a clean police record.

• The major change between the MRVP and MPRP is that the government has decided to completely remove the requirement to purchase €250,000 in bonds and has raised the MPRP’s real estate investment minimums from €270,000 to €300,000 in the South of Malta and Gozo and from €320,000 to €350,000 for the rest of the country.

• How does one become a permanent resident of Malta? We have outlined the MPRP requirements below: • Requirements • Under the Malta Permanent Residence Programme, the main applicant must:

This article is originally appeared on https://www.riftrust.com/news-blog/malta-s-new-permanentresidence-programme-replaces-the-malta-residence-and-visa-programme/