[email protected] | Dr Jean-Philippe Chetcuti on Malta's investor visa, the Malta Permanent Residence Programme (MRVP).

The Permanent Residence Programme of Malta is especially attractive to retirees, authors, intellectuals and international consultants, entrepreneurs or simply persons seeking to establish an alternative residence in Europe that suits their lifestyle and tax profile. Beneficiaries of Maltese permanent residence are given the benefit of staying and residing permanently in Malta as well as travelling within the Schengen Area for 90 days out of 180.

The Malta Permanent Residence Programme goes back to the 1960s when a retirement programme was operated to allow British retirees to relocate to Malta and receive their British pension in Malta enjoying Malta's favourable personal tax system. This has evolved and forked into a number of programmes some of which are still in existence today, including the Malta Global Residence Programme. The 2021 Malta Permanent Residence Programme (MPRP) evolves from the Malta Residence Visa Programme or MRVP, which is no longer accepting new applications. The Malta Permanent Residence Programme (MPRP) was launched in 2021 by virtue of Legal Notice 121 of 2021 and provides non-EU/EEA nationals of impeccable standing and repute the opportunity to apply for Maltese permanent residence.

Eligibility for Malta Permanent Residence (MPRP)
By way of financial qualifications, an investor is required to demonstrate a capital of €500,000, of which €150,000 must take the form of financial assets.
Family applications are favoured by the Malta Permanent Residence Programme, allowing the following to be included in a family application for permanent residence:
- unmarried couples in a long term relationship and
- dependent unmarried children with no age limit, as well as
- economically dependent parents and grand parents on either side.

Time Frame for Malta Permanent Residence
The Malta Residence Agency is committed to a targeted processing time of 4-6 months, leaving due diligence of applicants as paramount over speed considerations.

The fees under the new Malta Permanent Residence Programme regulations are as follows:
- Main applicant, Spouse & Children: €68,000 / €98,000 government contribution (in case of property purchase/rental respectively).
- Parents/grandparents: €7,500
- A philanthropic donation to an approved charity or NGO in Malta is also a requirement at a minimum of: €2,000.

Competitiveness of Maltese PRP
- Permanent residence status is not lost if the resident does not reside in Malta in any given year.
- No need to purchase property if property rent is preferred to start with.
- Children maintain PR status when they become adults
- English is an official language in Malta

Tax System for Malta Permanent Residents
- Non-tax residents are only subject to tax on local source income.
- No world-wide income/wealth tax - tax only paid on income remitted to Malta.
- No Inheritance/Wealth Taxes

Our Malta Permanent Residence Services
Chetcuti Cauchi's award-winning Immigration & Relocation Law team is the oldest specialised immigration law practice in Malta. We have successfully represented hundreds of individuals and families ranging from expatriate retirees, emigrants seeking employment, to HNW individuals listed in Fortune 500. We are committed to promoting Malta as a welcoming investment and relocation destination, with a history of hospitality and multi-culturalism.

Maltese Lawyers and Tax Advisors
We advise on the tax and legal implications and requirements of the permanent residence application process and indicate expected time frames based on the specific circumstances and nature of your application. Our advice covers the rules applicable to immigrating to Malta under the Permanent Residence Programme and practical relocation assistance ranging from transportation and insurance to schooling and health insurance coverage.