Startup Residence Programme for non-EU Nationals launched in Malta
24 October 2022
Earlier this month, the Minister for Environment, Energy and Enterprise Dr Miriam Dalli announced the launch of the Malta Startup Residence Programme – a programme intended to provide non-EU entrepreneurs with the opportunity to relocate to Malta and either establish a new startup or continue investing in their existing business locally.
The programme is open to third-country nationals (which excludes EU, EEA and Swiss nationals) who are founders, co-founders or core employees of an enterprise which has been registered for not more than seven years anywhere globally. To apply, candidates must have a successful track record, a business plan or proven success in a third country.
The Startup to be established in Malta is required to place a tangible investment or paid-up share capital of not less than €25,000. However, in cases where there are more than four co-founders, an additional €10,000 for each co-founder needs to be invested. More detailed information on the eligibility and requirements tied to the Startup Residence Programme can be found here.
This initiative grants successful applicants and their immediate family access to a three-year residency permit that can be extended for an additional five years. On the other hand, core employees of the startup – earning more than €30,000 annually – will be able to renew their residency permit for a further three years.
From an entrepreneurial perspective, the Malta Startup Residence Programme offers a wide range of benefits including a favourable tax regime and the possibility of expanding business engagements EU-wide. Other benefits include access to a strong healthcare and education system as well as a welcoming community of expats. It has been reported that an astounding 25% of the Maltese workforce consists of emigrants that relocated from all over the globe.
AE’s Residency Practice Line is a licensed accredited agent with the Residency Malta Agency. This puts us in an optimum position to assist, as all MPRP applications must be submitted to Residency Malta Agency through licensed entities. The team at AE will continue to work on your behalf, even after the issuance of the permit, to ensure the uninterrupted enjoyment of your right to reside in Malta.