Malta has made significant changes to their Permanent Residency offering, launching a new and improved programme as of today, 29th March, which will now be known as MPRP.
Previously the MRVP programme required a minimum investment of €330,000, plus fees which was broken down into three main sectors, a €250,000 government bond investment, a €30,000 government contribution and property rental agreement of €10,000 p.a for five years, or a property purchase from €270,000. This programme is now closed.
The new programme has been totally remodelled and has a similar structure to some of the programmes offered in the Caribbean. The new MPRP programme requires the investor to mainly make a government donation, along with a property rental agreement. The requirements are as follows:
- Government contribution of €98,000
- Mandatory charitable donation to a Maltese registered NGO of €2,000
- Enter a €10,000 p.a property rental agreement for five years (South of Malta or Gozo)
Application and processing fees will also apply.
We expect the reformed programme to be highly attractive to those who have been looking for a lower cost residency option within a EU member country, as this is now one of the most cost-effective residency solutions available in Europe.
The new programme also allows the main investor to include several generations under one application, as did the old programme. Family applications can include the main applicants spouse, dependent unmarried children of any age, the main applicant and spouses parents and grandparents on either side of the family.
To receive the full details and a quotation, please contact our team.
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