Parliamentary Secretary for Citizenship and Community Affairs Alex Saliba shared the government’s plans at a meeting with the programme’s licensed agents.
A bill with changes has not yet been passed: the Maltese Parliament will consider it soon. The new conditions will come into force as soon as they are published in the State Gazette.
How much and what to invest in under the new rules
An investor fulfils several conditions to obtain a permanent residence permit under the Malta Residency and Visa Programme. Under the old rules, the foreigner purchased government bonds, purchased or rented property, paid an administrative fee and proved the amount of annual income or assets.
The updated version of the programme offers similar conditions, but without the purchase of government bonds. At the same time, the minimum transaction amount for the purchase of real estate and the administrative fee will increase. The investor’s assets will be sufficient to prove solvency. The annual income will not be taken into account.
Conditions and cost of participation in the Permanent Residence Programme in Malta
|Conditions||Under the old rules||Under the new rules|
|Purchasing government bonds||250 000 €||No|
|Buying a property: North or South and the island of Gozo||320 000 € or 270 000 €||350 000 € or 300 000 €|
|Rental accommodation: north or south and the island of Gozo||12 000 € or 10 000 €||12 000 € or 10 000 €|
|Administrative fee||30 000 €|| 68 000 € for the purchase of the accommodation |
or 98 000 € if renting
|Contribution to a Maltese non-governmental organisation||No||2000 €|
|Annual income||100 000 €||No|
|Assets in ownership||500 000 €|| 500 000 €, |
of which €150,000 are financial assets
According to current rules, the minimum investment amount is €290,000. Of that, €250,000 can be recovered by selling the bonds after five years. Under the new rules, the investor’s costs will be halved. If renting accommodation in the south of the country, the cost of participation per applicant is €110,000. But all investments will be non-refundable.
minimum investment amount under the new rules
The new conditions make the programme beneficial not only to investors but also to the Maltese government. The country’s budget will receive more direct investment through an increased administrative fee.
The Maltese government will also open a new agency to deal with the investment programme, the Residency Malta Agency. The processing time will be between 6 to 8 months. The countdown starts when the application is submitted and ends with the issuance of the Residency Malta card.
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Who will be able to obtain a residence permit with an investor
The investor may include the spouse, children, parents and grandparents in the application. The current rules do not set age requirements for family members. But all additional applicants must be financially dependent on the investor, and adult children cannot be married at the time of application.
The new rules also allow family members of an investor to obtain a residence permit in Malta under the investment programme. Whether the government will introduce an age limit is not yet known. But there will be an increase in fees for adding parents and joining relatives once the investor has obtained a residence permit.
Fee for adding and joining family members
|Relative||Under the old rules||Under the new rules|
|Parents and grandparents of the applicant||5000 €||7500 €|
|Resident's spouse||Free of charge||7500 €|
|Spouse of a resident relative||5000 €||7500 €|
|An adult child of a resident||Free of charge||5000 €|
|A minor grandchild of a resident and/or his or her resident spouse||5000 €||5000 €|
Immigrant Invest is a licensed agent of the Permanent Residence Programme in Malta. The company’s lawyers accompany investors at all stages: from collecting documents and selecting properties to forwarding ready-made residence cards.