About Malta Permanent Residence Programme (MPRP)
The Malta Permanent Residence Programme (MPRP) is a ‘residency-by-investment’ programme that requires the main applicant to make qualifying investments in Malta. Introduced in March 2021, it enables third-country nationals – non-EU, non-EEA and non-Swiss citizens – to reside, settle or stay indefinitely in Malta. With a four to six-month application processing timeframe, the MPRP provides numerous benefits to applicants who wish to make Malta their home away from home.
Successful applicants to the Malta Permanent Residence Programme receive the following benefits:
To qualify for the MPRP, applicants are required to:
- Establish a Residential Property in Malta, either by
- Renting a property for a minimum of €12,000 per year in Malta, or €10,000 per year in the Southern Region or Gozo; or
- Purchasing a property for a minimum of €350,000 in Malta, or €300,000 in the Southern Region or Gozo.
- Make a Direct Contribution to the Maltese government, either of
- €58,000 if you choose to rent a property in Malta; or
- €28,000 if you choose to purchase a property in Malta.
The direct contribution must be settled within eight (8) months of the issuance of a Letter of Approval in Principle and can be paid in tranches.
- Pay Non-Refundable Administration Fee
Applicants are required to pay a non-refundable administration fee of €40,000. An initial fee of €10,000 must be settled within one (1) month of submission of the application, and the €30,000 balance must be settled within two (2) months of the issuance of the Letter of Approval in Principle.
- Donation to Voluntary Organisation
Applicants are required to donate €2,000 to a local philanthropic, cultural, scientific, artistic, sporting or animal welfare non-governmental organisation (NGO) that is registered with the Maltese Commissioner of Voluntary Organisations.
- Demonstrate sufficient net worth
Applicants must be in receipt of a stable and regular financial income, sufficient to maintain themselves and their dependants, without the need to depend upon the social assistance system of Malta.
The main applicant must demonstrate a minimum net worth of €500,000, of which €150,000 must be in the form of financial assets, such as stocks, bonds, funds or bank deposits.
- Meet the ‘Fit and Proper’ requirement
All applicants must demonstrate that they do not have a criminal record or pose a potential threat to the national security, public policy, public health or public interest of Malta.
- International Health Insurance
All applicants must be covered by a qualifying health insurance policy that provides all risks cover both in Malta and the Schengen Area. Sovereign Insurance Services provides a wide range of qualifying health insurance policies.
How to apply
As a licensed agent of the Residency Malta Agency (RMA), Sovereign Services Limited is well-placed to guide, assist and support applicants through the application process. There are seven steps to complete as part of a MPRP application and we will work closely with you through each step to ensure that your application is successful:
STEP 1 – Establish Power of Attorney
Applicants provide Power of Attorney (POA) to Sovereign Services Limited which, as a licensed agent, is authorised to assist with the preparation and processing of MPRP applications.
STEP 2 – Submission of Application Pack and Issuance of Receipt
As a licensed agent, Sovereign is required to prepare and submit a complete MPRP application pack on behalf of each applicant. The RMA will issue a receipt as confirmation of submission.
STEP 3 – Due Diligence
To ensure that only ‘fit and proper’ individuals and families are accepted under the MPRP, the RMA applies rigorous due diligence to all applicants and their dependants under a four-tier process that takes approximately three (3) to six (6) months to complete:
- As agent, Sovereign Services Ltd will undertake standard ‘Know Your Client’ (KYC) screening on a potential applicant and all family members through international databases. We must also provide a covering letter including the professional background of the applicant when presenting an application.
- The RMA will perform clearance checks with Interpol, Europol and other police authority databases. Third-country nationals who need a visa to travel to Malta must also go through the standard Schengen visa application process.
- The RMA will perform a completeness and correctness check on the application to identify any anomalies and highlight any potential risks. All supporting documentation submitted will be verified. The Agency will also carry out further checks via the World-Check database of Politically Exposed Persons (PEPs) and heightened risk individuals and organisations and will review an applicant’s wealth and source of funds. Reports will be commissioned from due diligence companies worldwide.
- RMA assessors will compile a risk assessment report and present their findings to the Approvals Board. The Approvals Board may make further inquiries before deciding on whether an application is approved or not.
STEP 4 – Issuance of a Letter of Approval in Principle or Rejection
The Approvals Board takes the final decision to approve or reject the main applicant. If the application is approved, a Letter of Approval in Principle (LAP) will be issued.
STEP 5 – Complete MPRP Qualifying Investment Requirements
Upon receipt of the LAP, the main applicant is required to complete any outstanding MPRP qualifying investment requirements – acquisition or rental agreement for a qualifying residential property, Direct Contribution to the Maltese government and donation to registered Voluntary Organisation of choice.
STEP 6 – Biometric Data submission and issuance of Residence Card
Sovereign Services will arrange for the main applicant and his/her dependants (if any) to travel to Malta to have their signatures and biometric data recorded by the RMA. When completed, MPRP residence cards can be issued.
STEP 7 – Annual Compliance Checks
On an annual basis, the RMA will request Sovereign Services, as agent, to submit proof of property lease or purchase, as well as proof of health insurance coverage, on behalf of the applicant. This occurs annually for the first five years and thereafter at the discretion of the RMA.
All Inclusive Quotation
The total costs associated with an application for the Malta Permanent Residence Programme are dependent on several factors, including the number of dependants to be included and the types of qualifying investments selected. Please contact Sovereign Services to discuss your application and receive an all-inclusive quotation for acting as your licensed agent.