More and more people who want a free status in a foreign country are interested in the MPRP program. Its primary purpose is to help people quickly obtain the right to permanent residence in Malta, provided that the participant has made a profitable investment. It will take 4-6 months from the date of application to have all permits for Malta residency. Once they are issued, you can consider Malta as your welcoming home.
According to specialists of Immigrant Invest, the project of obtaining full status in this country has been in effect since 2015. After six years, some of its provisions have been redrafted. Currently, the number of those wishing to reside in the developed countries of Europe is constantly growing. Residency by investment is quite a popular project around the world. Today, wealthy citizens seeking a decent, comfortable life are interested in it.
What is required to participate in the MPRP?
The Maltese residence permit, according to the requirements of the Malta Permanent Residence Programme, is available only to investors from non-EU countries. However, if the applicant is granted such a right, this status will be extended to their spouse and relatives of the first line and grandparents.
To participate in the Malta PR program to receive all the benefits of the country, investors will need the following:
- to purchase or rent real estate;
- to pay the required fees and voluntary donations;
- to prove that they have money in their possession of 500,000 euros or more.
It is possible to read more about these conditions at immigrantinvest.com. Permanent residence status in Malta is valid indefinitely from the date of receipt. Moreover, the document conferring this right is subject to replacement once every five years, which is optimal compared to the more frequent replacement of such cards in other countries.
To obtain the rights in question in Malta, the investor will need to contribute the following:
- From 300 to 500 thousand euros for the purchase of housing. The size of this investment is related to current real estate prices. As a result, the fairest value of Malta’s residential properties now occurs in the southern half of the country.
- As an alternative to purchasing housing, he can spend 10,000 to 12,000 euros on renting a house or apartment in Malta for up to 5 years.
- State contribution of 28 thousand euros in case of purchase or 58 thousand euros in case of rental of residential properties.
- The sum of 2 thousand euros to any non-governmental foundation in Malta.
- Administrative fees of 40 thousand euros, including the price of registration of permanent residence status and the necessary legal audit. The husband (wife) of the applicant, his parents, and grandparents will also have to pay for the acquisition of the right of permanent residence – 7,500 euros each. For children, the amount is 5 thousand euros each.
The expenses described above are a cheaper option, which came into force when the amendments to the existing rules were introduced on 29.03.2021. If now wishing to legalize their stay in Malta can settle for about 160 thousand euros; in the recent past, for such a process, they had to invest at least 330 thousand euros investments.
Advantages of residency in Malta
According to the expert of the agency Immigrant Invest Elena Rudaya, the status of Permanent Residence in this country gives many benefits to those who manage to get it. Among its most significant advantages are the following:
- Ability to travel visa-free to all Schengen states. The right to stay permanently in Malta entitles such citizens to visa-free entry into any country under the Schengen Agreement. They can be in Schengen territory for up to 90 days.
- The right to live, work and conduct commercial activities in Malta. Investment participants, granted permanent residence status, enjoy the permanent right to live and work on an equal footing with Maltese citizens. In addition, they can register a legal entity in the country and fulfill the obligations of tax residency.
- Unrestricted use of educational and medical services. Everyone with Malta Permanent Residence status is exempt from obtaining a visa to study at local educational institutions or apply for medical services. They are also eligible to study or receive medical treatment in any Schengen country without a visa as long as their stay in such countries does not exceed 90 days.
- Temporary asylum in the country. The participant of deposits under the program Residency by investment may not live on the territory of Malta, but the status of permanent resident will remain with him. He is entitled to rent a property and register a bank account, putting his own money in it. If in the state where the investor has citizenship, he is threatened by any danger; he can move to Malta with his family to get the necessary protection.
The status of legal residence in Malta implements almost all fundamental civil rights of this country. As noted by the specialist of the investment program Elena Rudaya (company Immigrant Invest), the temporary residence status in Malta will not allow the immigrant to work in some positions related to the state and the government. Also, he only has the right to stay in other Schengen countries for a while. The basis for obtaining the above privileges can only be a passport of a Maltese citizen.
What investment programs are in place in Malta?
Since 2013, the state has been actively implementing attractive offers for residents of other countries to get Malta permanent residency for solid financial contributions. Today, similar programs operate in other European states, including Spain, Switzerland, Greece, Portugal, Great Britain, etc.
Malta is a unique place in the European space, where those who wish can make all kinds of stays, including residence permits, the right of permanent residence, and citizenship.
If one wants to obtain Malta residency profitably and quickly, it is necessary to choose to participate in one of two government projects:
- Malta Global Residence Programme;
- Malta Residence and Visa Programme.
Only wealthy investors can become citizens of this country for an exceptionally significant contribution to the economy. And at first, such an applicant will be issued documents of residence permit, and after 1-3 years, he will be able to get a national passport.
Each of the statuses offered by Malta to foreigners has its benefits. A residence permit allows free movement as a tourist to any member state of the Schengen Agreement and the use of favorable tax conditions. A residence permit opens up opportunities for unimpeded access to education and medical treatment for residents and their children and provides protection. The citizenship of Malta allows one to live for an indefinite time, not only in its territory but also in any other country of the European Union.