The Residency Malta Agency has announced new eligibility and investment requirements for the Malta Permanent Residence Programme (MPRP) – S.L. Legislation 217.26.
The new requirements will come into effect for applications submitted from the 1st of January 2025 by means of Legal Notice No 310 of 2024.
The changes fall into three main areas of the programme – Eligibility Criteria, Qualifying Property, Contributions & Fees. Please find the changes listed below.
Changes to the Malta Permanent Residence Programme
Eligibility Criteria
1. A Main Applicant will need to be in possession of assets of at least €500,000 out of which €150,000 shall be in the form of financial assets OR the main applicant will need to have €650,000 in assets, out of which €75,000 shall be in a financial form.
2. An adult child of the Main Applicant or of their spouse is eligible as a dependant if at the time of application is over 18 years of age, but not yet attained 29 years of age, not married and principally dependent on the Main Applicant.
Qualifying Property
1. Minimum purchase price for qualifying property – €375,000 in Malta or Gozo
2. Minimum annual rent for qualifying property – €14,000 in Malta or Gozo.
Administration Fees/Contributions
1. Main Applicant is required to pay a non-refundable administration fee of €50,000. €15,000 of this needs to be paid within 1 month from submission of application; with the remaining €35,000 payable within 2 months from the issuance of a Letter of Approval in Principle.
2. All dependants (including spouse, children, parents, and grandparents) are now required to pay a fee of €10,000 each. €5,000 of which is a non-refundable administration fee, payable for every dependant within 2 months from the issuance of the Letter of Approval in Principle when joining at application stage. The remaining €5,000 contribution is paid within 8 months from the issuance of a Letter of Approval in Principle.
In the case, a dependant joins after the issuance of a certificate of residency, the non-refundable administration fee and contribution fee must be paid upon submission of application.
3. A contribution of €30,000 in respect of the Main Applicant who opts for a qualifying owned property (if purchasing property); or a contribution of €60,000 in respect of the Main Applicant for a qualifying rented property; paid within 8 months from the issuance of a Letter of Approval in Principle.
Applicants who have already applied prior to the 1st of January 2025 shall remain subject to, and governed by, the principal regulations in force at the time of application submission.
Vertex Alliance are licensed agents with the Residency Malta Agency, licensed number: AKM-VERT. Find out more how we can assist with your application – Contact Us.
