Malta Residence & Visa Programme (MRVP) 2020 | Malta citizenship by investmentGoldenVisasAdmin2020-07-15T20:38:47+00:00
Malta Residence & Visa Programme (MRVP) 2020
As of the beginning of 2020, nationals of Afghanistan, Chad, Iran, Libya, North Korea, Somalia, Syria, Venezuela and Yemen are not eligible to apply for Maltese citizenship or residency.
Looking to establish a foothold in Schengen Europe in 2020? Maltese residency or citizenship is the ultimate Plan B for South Africans. Find out more about your investment residency and second citizenship options in Malta, or contact us now to schedule a free consultation.
Malta Residency and Citizenship: What are your options?
Although Malta does offer a programme for high net worth individuals, namely the MIIP, the MRVP scheme is more affordable, and thus more accessible to a greater number of applicants.
Legal basis: Maltese residency by investment can be obtained by high net worth individuals of impeccable international standing, in accordance with L.N 288 (2015), as amended by L.N 189 (2017).
The Malta Residence and Visa Programme (MRVP)
Established in 2015, the MRVP programme falls under the Maltese Immigration Act, and is presently being managed by the Malta Residency and Visa Agency (MRVA). The programme enables non-EU nationals to apply for fast-tracked Maltese residency on the basis of making an eligible investment, or renting a qualifying property. Applicants are required to make a number of financial contributions as outlined below. EU/EEA and Swiss nationals are not eligible to apply for Maltese residency under the scheme.
In order to qualify for Maltese residency under the MRVP, applicants are required to:
• Invest a minimum of €250,000 in Maltese government bonds for a period of 5 years • Make a non-refundable contribution of €30,000 to the government of Malta • Purchase of Malta property valued at no less than €320,000 (or €270,000, if the property is situated in Gozo or Southern Malta).
If you were to opt for the option of renting a property, the annual rental amount must be €12,000, unless the property is situated in Gozo or Southern Malta, in which case the minimum annual rent amount must be €10,000 or more.
Additional eligibility criteria:
In addition to the above investment requirements, the following criteria must be met by he main applicant: • You must be older than 18 years of age • You must be a non-EU national • You must provide proof of title for the qualifying property, and maintain this investment for a period of no less than 5 years. • You must commit to maintaining your €250,000 government bond investment for a period of at least 5 years. • You must be able to prove that your annual income is no less than €100,000, or that you hold a minimum capital amount of at least €500,00. • You must be in possession of a valid travel document and a short-stay Schengen visa. • You must have adequate health insurance in place at all times from the point of application and throughout the tenure of your investment residency in Malta. • You are not allowed to make any false statements or omit any requested information during your application process. • You must be able to prove a clean police record, nor are you allowed to have appeared before a criminal court. • No person who is on the INTERPOL watch list or any such lists will be eligible to apply. • No person whom is deemed to pose a threat to national security or public health will be deemed eligible to apply for Maltese residency, in 2020 or beyond.
FAST APPLICATION PROCESS: Complete your application for Maltese residency within as little as 3 months.
TAXATION (2020): Malta’s taxation can be very attractive for entrepreneurs, retirees and high net worth investors from outside the EU. Foreign income remitted to Malta by non-Maltese residents is subject to a flat-rate tax of only 15%, making Malta the ultimate destination for establishing a satellite European office. Income generated within Malta is tax at a flat rate of 35%. Malta also doesn’t charge an inheritance, gift and wealth taxes or estate duties, however a 5% stamp duty is applicable on property transfers and the transfer or certain Maltese company shares.
STRATEGIC LOCATION: Situated in the Mediterranean between the coast of North Africa and Sicily, Malta is the ideal gateway to Schengen Europe. The country enjoys excellent air connectivity, with most key European business cities reachable by air in under 3 hours. The country is situated in the same time zone as South Africa (GMT+2), making it the ideal location for a European satellite office and those doing business in South Africa remotely.
TRADE & TECHNOLOGY HUB: The Maltese economy offers a well balanced blend of trade, tourism and professional services, and in recent years the country’s technology sector has been growing significantly. The island nation has become a hub for blockchain and crypto startups, in addition to serving as the base for a number of large international online gambling operators.
CLIMATE: On average, Malta enjoys approximately 300 days of sunshine a year, with mild, dry summers and short, rainy winters.
EU MOBILITY: Malta has been a full member of the EU since May 2004 and the Schengen Area since December 2007. As such, Maltese residents enjoy visa free access to 26 other Schengen countries.
PASSPORT POWER: According to a leading global passport index, the Maltese Passport is the 7th strongest travel document in the world, affording the bearer visa free access (or visas upon arrival) to 182 countries and territories.
STABILITY: Malta is a stable democratic country with a rich cultural history. The country is a single-chamber parliamentary republic, with a head of state – being the Maltese president – whose duties are mostly ceremonial.
FAMILY INCLUDED: Dependents of the primary applicant, i.e. the spouse, dependent children and dependent parents, can be included under the Maltese residency application as well.
Golden Visas gives you access to South Africa’s leading investment migration experts dealing with the Malta Residency & Visa Programme. Whether you’re interested in Maltese residency or citizenship via property investment, our seasoned experts can help you identify the best options for you.
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