Malta Permanent Residency Program (MPRP) is the most reliable investment opportunity for non-EU nationals to make their new address in this EU nation.The Malta Government has announced plans to launch a new permanent residency by investment program for non-EU nationals, effective March 29, 2021. This new program will replace the current MRVP program which will continue accepting applications only until March 28.
Malta Permanent Residency Programme (MPRP) regulations are not announced officially and the new legislation is expected with the following changes:
1) Government Contribution. Under the old MRVP program, the Malta government contribution (non-refundable donation) was set at EUR 30,000 for the main applicant only. Under the new MPRP program, main applicants will be charged EUR 98,000 for administrative fees and a contribution if they rent a property. These fees are reduced to EUR 68,000 for main applicants who purchase a property. In addition, there will be a contribution payable by each dependent in the amount of EUR 7,500 and EUR 5,000 for each child over 18 years of age.
2) Philanthropic Donation: Under the old MRVP program there was no philanthropic donation required. The new program requires a donation to a Maltese-registered NGO in the amount of EUR 2,000 (main applicant only).
3) Property investment: The old MRVP program required either a property purchase of EUR 320,000 or a property rental of EUR 12,000 per year in the central or northern part of Malta (EUR 270,000 / EUR 10,000 in the south or Gozo). The rates under the new MPRP program will increase to EUR 350,000 for a purchase in the northern and central parts of Malta, and EUR 300,000 in the south or Gozo. Rental rates are to remain unchanged.
4) Income or Asset Documentation: Under the old MRVP program, the main applicant had the option to demonstrate either a minimum annual income of EUR 100,000 or EUR 500,000 in personal assets. The new MPRP program is expected to eliminate the proof of income option, while retaining the EUR 500,000 proof of asset obligation with a new requirement of EUR 150,000 of total assets being available as liquid funds.
5) Securities: Under the old MRVP program, the main applicant was required to make a refundable investment of at least EUR 250,000 into government-approved securities to be held for 5 years. The new program will no longer have this requirement.
6) Financing option: There is no financing option available for the new MPRP program.
This new MPRP program is similar to the old MRVP program and available to couples: married or unmarried couples in a long-term relationship, parents & grandparents on either side of the family, and dependent unmarried children of any age.
Some other questions regarding MPRP will be clarified by the Maltese government over the coming weeks. You will be informed about it through Trenity Consultants.
Trenity Consultants is a renowned immigration consultants for making a selection for any type of visas, citizenship by investment, or any other visa categories to EU nations, Australia, Canada, or any other part of the world. Malta residency by investment program recently has got some revamping and the Trenity experts are working proficiently to file in the new cases that are interested to shift over to Malta to obtain investment-related citizenship.
They are the most reliable migration consultants having the experience to deliver their promises by serving thousands of clients for different visa categories. They have a team of experts for the different regions and have successfully undertaken the different projects for migration. Residency by investment in Europe is trending these days and with the emerging market trends, it has given many benefits to the citizens for the global platform. You can discuss the requirements and opt for citizenship opportunities available with investment in the European nations.