The Malta Residence and Visa Programme (‘MRVP’) is a residence programme launched by the Maltese government by virtue of Legal Notice 288 of 2015 and is designed for Third Country National investors in Malta. A beneficiary under the MVRP and their dependents are offered the opportunity to acquire indefinite residential status in Malta as well as to travel within the Schengen area without the need of applying for a visa.

A beneficiary under the MVRP is not subject to a preferential rate of Malta tax and the general Malta basis of taxation would apply; however, it should be noted that individuals registered for the Global Residence Programme can also apply under the MVRP, provided that the additional eligibility requirements are met.

An individual may only apply for special tax status under the Residence Programme if he:

  • is a Third Country National;
  • is not a Maltese, EU, EEA (Iceland, Norway, Liechtenstein) or Swiss national;
  • is not a beneficiary under the Malta Residence Programme, the Malta Retirement Programme, or the Highly Qualified Persons Rules;
  • owns a Qualifying Property (namely a property in Malta that exceeds the minimum value threshold of €320,000 or leases a property for more than €12,000 per annum; the values for property in the south of Malta or in Gozo are slightly lower). The Qualifying Property cannot be let or sub-let and must be held for 5 years from the date of issue of a certificate referred to below;
  • makes a contribution of €30,000;
  • commits himself to a qualifying investment of an initial value of two hundred and fifty thousand euro (€250,000) (currently interpreted as meaning an investment in Malta Government bonds) which must be held for a minimum period of 5 years from the date of issue of the certificate referred to below;
  • can show that his annual income arising outside Malta is of not less than €100,000 or that he is in possession of capital of at least €500,000;
  • is in possession of valid travel document;
  • can show sufficient health insurance cover for himself and his dependants; and
  • is a ‘fit and proper’ person in accordance with due diligence checks carried out in his respect. (This requirement needs to be satisfied in relation to all individuals that are dependants over the age of 18 as well as household staff mentioned in the application form).

Dependants of the beneficiary are also entitled to benefit from this scheme. In this context, ‘dependants’ refers to include the spouse of the main applicant, children under 18 years of age, children between the age of 18 and 26 if they are unmarried and economically dependent on the main applicant, parents or grand-parents of the main applicant or spouse or children of the main applicant or spouse over the age of 18 with a certified disability if fully supported by the applicant.

An application under the MVRP must submit an application to Identity Malta exclusively through the services of a registered approved agent or an accredited person. A non-refundable administrative fee of €5,500 has to be paid upon application, which is then deducted from the contribution of €30,000 referred to above in the event that the application is allowed to proceed. At that stage, once the contribution has been paid in full and provided that all the necessary supporting documentation is duly presented, a certificate would be issued to the applicant.

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