New criteria for Malta’s Nomad Residence Permit (MNRP) come into effect on the 1st of April 2024. The changes include raising the minimum annual gross income required and increasing the maximum stay period.
The minimum income now required increases by €9,600 per year, making the annual minimum income required, €42,000 per year. To be eligible for the programme, applicants are required to show their level of income and demonstrate that this income is received from outside of Malta. Applicants need to be able to work remotely, irrespective of their physical location. Previously, applicants were required to prove an income of only €32,400 per year. The new maximum income amount is applied to all applications from the 1st of April 2024 onwards. Permit holders wishing to renew and applications submitted prior to this date are subject to the old threshold.
The Malta Nomad Residence Permit (MNRP) offers third country nationals the opportunity to reside in Malta for up to one year.
Previously MNRP applicants could renew their permits to stay in Malta for up to three years, with the announcement of recent changes, the maximum stay period will be extended to four years. This will allow Nomad Resident Permit holders to extend their stay by a further year.
Renewals are subject to the beneficiary continuing to fulfill the programme’s requirements – this includes evidence that the permit holder stayed in Malta for a minimum, cumulative period of five months in the previous year.
Launched in 2021, the Malta Nomad Residence Permit is governed by the Residence Malta Agency and aims to attract digital nomads and their dependant family members from around the world.
For more information about Malta’s Nomad Residence Permit, please visit our webpage or request our fact sheet. Vertex Alliance has assisted numerous clients applying for their Malta Nomad Residence Permit, please get in touch to find out how we can help.
