The Malta Permanent Residence Programme (MPRP) provides an opportunity for individuals and families seeking relocation or a second residency to support international mobility in exchange for qualifying investments in Malta. Significant updates to the programme will take effect on 1st January 2025, introducing revised eligibility criteria, revised property requirements, and adjusted fees, aimed at aligning the programme with current economic trends and enhancing its global appeal.
Key Updates to the MPRP
Revised Asset Requirements
A new eligibility criterion allows main applicants to demonstrate ownership of assets valued at a minimum of €650,000, out of which at least €75,000 must be in the form of financial assets. This serves as an alternative to the current requirement of having ownership of at least €500,000 in assets, out of which €150,000 must be in the form of financial assets.
Dependent Eligibility Adjustments
Changes have been introduced regarding dependents:
- Adult children of the main applicant or their spouse can only qualify if they are unmarried, financially dependent on the main applicant, and between the ages of 18 and 29.
- Children over 18 with disabilities, as certified under Malta’s Equal Opportunities (Persons with Disability) Act, remain eligible as dependents.
Updated Property Requirements
Applicants will now face uniform property requirements regardless of the property’s location in Malta or Gozo. Options include:
- Purchasing property with a minimum value of €375,000, or
- Renting property with a minimum annual rent of €14,000.
Applicants must commit to their chosen property investment option upon receiving approval in principle.
Fee Adjustments
The following changes have been made to administration fees and contributions:
- The non-refundable administration fee has increased from €40,000 to €50,000, payable in two installments: €15,000 within one month of application submission and €35,000 within two months of receiving the Letter of Approval in Principle.
- Dependants of the main applicant are now subject to a €10,000 fee per dependant, split into a €5,000 non-refundable administration fee and a €5,000 contribution. This fee becomes payable after the main applicant and his dependants are approved (in principle).
- Contribution fees payable to the Residency Malta Agency have increased:
- Rental option: €60,000 (up from €58,000).
- Purchase option: €30,000 (up from €28,000).
Enhancing Programme Attractiveness
These updates aim to preserve the MPRP’s reputation as a robust residency-by-investment programme, ensuring it remains competitive while reflecting current market and economic trends. Efforts are also being made to reduce application processing times, all while maintaining rigorous due diligence standards.
Interested in the MPRP?
For further details and a personalised assessment, contact CLA Malta’s Global Mobility team to explore whether the MPRP aligns with your residency goals.