In a briefing on the 12th of January, Parliamentary Secretary Alex Muscat and MRVA CEO Charles Mizzi updated all approved agents on the details of the Malta Residence and Visa Programme (MRVP) rules.
Current Malta Residence and Visa Programme (MRVP) Rules
Up to now, there was a three-tiered investment requirement needed to qualify for the MRVP rules, which can be summarised as it follows:
- Property Requirement:
- Purchase of minimum €270,000 for a property situated in Gozo or the south of Malta, or €320,000 elsewhere in Malta.
- Rent a property for minimum €10,000 per annum in Gozo or the south of Malta, or €12,000 per annum elsewhere in Malta.
- Investment Requirement:
- Investment of minimum €250,000 in investment vehicles as identified by the government from time to time; with a financed option available.
- Contribution Requirement:
- Making a non-refundable government contribution of €30,000 and €5,000 applicable for every adult-dependent added to the application.
The above will be required for all applications submitted before the 29th of March. From there onwards, the MRVP programme will then be replaced by the Malta Permanent Residence Programme (MPRP).
There is still time to apply under the current rules – contact us to proceed with your application!