Revisions to Malta’s Permanent Residence Programme

Revisions to Malta’s Permanent Residence Programme 

21 November 2024

On 19th November 2024, the Residency Malta Agency announced significant revisions to the Malta Permanent Residence Programme (MPRP). Introduced through Legal Notice No. 310 of 2024, these updates will take effect on 1st January 2025. The changes reflect current economic trends, ensuring the programme remains competitive while maintaining its reputation as a robust residency-by-investment option. 

Revised Eligibility Criteria 

Applicants must now meet updated financial thresholds. They are required to demonstrate either €500,000 in total assets, with at least €150,000 held in financial assets, or €650,000 in total assets, with a minimum of €75,000 held in financial assets. 

The eligibility of dependants has also been revised. Adult children between the ages of 18 and 29, provided they are unmarried and financially dependent on the main applicant, can be included in the application. 

Updated Property Requirements 

The property investment thresholds have been adjusted. To qualify, owned property must have a minimum value of €375,000, while rented property must have an annual rental value of at least €14,000. These updates align with the programme’s goal of fostering meaningful economic contributions through property investments. 

Revised Fees and Contributions 

Under the new rules, main applicants are required to pay a non-refundable administration fee of €50,000. This fee is divided into two payments: €15,000 within one month of application submission and €35,000 within two months of receiving the Letter of Approval in Principle. 

Fees for dependants have also been introduced. Each dependant will incur a total fee of €10,000, which includes a €5,000 non-refundable administration fee and a €5,000 contribution. 

For property contributions, applicants opting to purchase a qualifying property will need to pay €30,000, while those choosing to rent a qualifying property must pay €60,000. 

Transition Period 

Applications submitted before 1st January 2025 will be processed under the existing regulations. However, all applications submitted from this date onward will need to comply with the updated requirements. 

Streamlined Application Process 

As part of its ongoing commitment to improving the programme, the Residency Malta Agency has also worked to streamline application processing times. These efforts aim to make the MPRP more appealing to prospective applicants while upholding the programme’s high standards of due diligence. 

How AE Can Help 

Navigating changes in residency-by-investment programmes can be challenging, but our expert team at AE is here to help. We provide tailored guidance to ensure compliance with the latest requirements and a smooth application process. 

If you’re considering applying for the MPRP or want to understand how these updates affect your plans, contact us today to learn how we can assist with your application.