Malta Permanent Residence Programme – Frequently asked questions
Malta Permanent Residence Programme (MPRP) has launched the clear rules on granting permanent residency to the applicant, on the basis of a real estate investment. However, there are many questions waiting to be answered around the program. Find out with Portico & Bridge about frequently asked questions about the Malta Permanent Residence Programme.
The Residency Malta Authority (RMA) refers to the Malta Permanent Residence Programme (MPRP) which is a simple immigration investment program. The program is based on investments in property and government contributions. With a commitment to processing time from 4 to 6 months from the time of submission of complete and correct application. MPRP brings a lot of value to customers who want to turn Malta become their new starting point.
At Portico & Bridge supported by Dr Michaela Millo LL.B (Hons), M.Adv (Melit.). She is also a Doctor of Lawyers licensed by the Malta Immigration Agency (Residency Malta Agency) with AKM number AKM-MILLO-21. Can directly assist with the correct preparation and submission of the application to the Residence Authority of Malta (RMA).
FAQ about Malta Permanent Residence Programme (MPRP)
1. What is the Malta Permanent Residence Programme (MPRP)?
Investors who successfully apply under the MPRP will be issued with aCertificate of Maltese Residence. Allows investors and their families to reside and settle in Malta indefinitely.
2. Does the investor have to go through aattorney Malta licensed ?
Investors who want to submit an MPRP application need the support ofAttorney a Licensedin Malta.
Portico & Bridge is the FIRST & ONLY company in the market to have a Malta Licensed Attorney, that is Dr. Michaela Millo LL.B (Hons), M.Adv (Melit.) She is a Doctor of Lawyers licensed AKM by the Malta Immigration Agency (Residency Malta Agency) with number AKM-MILLO- 21 – allows her to act as a lawyer to represent investors before the Immigration Agency.
3. Who can apply as a principal applicant under the MPRP?
To apply, the main investor must be 18 years of age or older and own assets worth a minimum of €500,000. Of which € 150,000 must be a financial asset. This minimum capital must be maintained for the first 5 years after the date of issuance of Certificate C ofResidence in Malta.
The main applicant must also secure steady and regular resources. Aim to be enough to sustain yourself and your family without resorting to the Maltese welfare system.
4. What dependents can the main applicant include?
The MPRP allows the main applicant to include the following dependents:
– Spouse or similar marriage relationship;
– Children, including adopted children, over the age of 18, unmarried and dependent primarily on the main applicant.
– Parents or grandparents who are primarily dependent on the main applicant.
– Children who have been certified as disabled.
5. Are there any other restrictions for the main applicant?
The investor must be a third country national. Non-EEA and non-Swiss. In addition to those who are notbenefiting under other applicable regulations and programs.
6. What obligations must the main applicant meet?
After receiving the Letter of Acceptance in principle, the applicant must:
– Payadministrative fees remaining the for the immigration agency Malta (Malta Residence Agency);
- Payment of contributions to the Malta Immigration Service;
- Present proof of the right to purchase or lease on a qualifying property in Malta;
- Donate to a Maltese NGO;
- Purchase insurance for the applicant and all those traveling with the application. Coverage covers all common perils available to Maltese citizens.
7. How much is the administrative fee and when does it have to be paid?
Investors have to pay Anon-refundable administrative fee of €40,000 is payable to the Malta Immigration Service. Investors need to pay €10,000 upon application. While the remaining € 30,000 the investor must pay within 2 months from the date of the Letter of Approval in Principle.
8. How much is the contribution and who pays?
Contributions payable to Immigration Malta is € 28,000 if the main applicant choose to buy a property eligible residents. Or €58,000 if the main applicant chooses to rent a qualifying home.
This includes the main applicant, spouse and dependent children. Each parent or grandparent of the main applicant or spouse must pay an additional contribution of €7,500/person.
9. When must the main applicant pay the contribution?
The total amount of the contribution is due only after the application is approved in principle. And the main applicant must pay to the Agency di stay Malta within 8 months from the date of the Letter of Acceptance in Principle.
10. What kind of property can the main applicant buy or rent?
For an estate to qualify under the MPRP, it must be a residential property in Malta. In the case of a rental option in Gozo or South Malta, the minimum annual rent should be €10,000. If located in the rest of Malta, the minimum annual rent should be €12,000.
If the main applicant chooses to purchase the property, the minimum value should be €300,000 if it is located in South Malta or Gozo. Or €350,000 for a property located in the rest of Malta.
11. How long must qualifying property be held?
The main applicant has the right to lease or own the qualifying property to reside in Malta for a minimum of 5 years. Right to be approved from the date of issue of Certificate of Residence in Malta.
12. Is the main applicant required to keep assets in Malta after 5 years?
Under the MPRP, applicants are required to maintain ownership of, or lease, real estate in Malta for a period of five years. After year 5, the applicant is NOT required to keep assets in Malta.
13. How long does it take to meet civic obligations?
Theinvestor must be met and delivered by documentary obligations to the Maltese Residence Authority within 8 months from the date of the Letter of Approval. Failure to do so may result in the application being rejected or the Letter of Approval revoked.
14. What is the minimum donation amount required?
The main applicant must make a minimum financial contribution of € 2,000 for the organization registered in Malta. This organization can be a cultural, sporting, scientific, animal welfare or non-governmental organization. And institutions registered in Malta or approved by residence.
15. How important is it to provide complete and accurate information?
If the applicant provides incorrect information or omits the requested information, the MPRP application may be refused.
For more information about the Malta Permanent Residence Programme, please contact Portico & Bridge for detailed support.
Malta is an attractive and ideal settlement destination for investors. Malta has become the perfect settlement choice for families from all over the world. In addition, Malta also implements preferential policies on welfare as well as health and education. Conditions for settling in Malta also become faster and more convenient with Malta Permanent Residence Programme.
Portico & Bridge is a leading European immigration and settlement consulting group, with more than 35 years of experience and a team of more than 50 reputable professionals worldwide. For more information about the Malta Permanent Residency program, please contact Portico & Bridge for detailed support.
Call us now at 0909.898.758
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