After the recent success of the Malta Individual Investor Programme, the Malta Residence and Visa Programme Regulations have been introduced via Legal Notice 288 of 2015. The new programme is being managed by Identity Malta Agency (the same Agency also responsible for the MIIP) and allows the authority to issue a certificate that shall entitle the beneficiary and his registered dependants to reside, settle or stay indefinitely in Malta.
The applicant must satisfy a three-tier investment:
1. A Contribution of €30,000, of which €24,500 the applicant will be called to pay once the application is approved in principle.
2. A Qualifying Investment having an initial value of €250,000, as may be prescribed by the Agency.
3. A Qualifying Owned or Rented Property:
Immovable property for a consideration of not less than €320,000 for property situated in Malta or €270,000 for a property situated in Gozo or in the South of Malta; OR
Qualifying Rented Property: Immovable property on lease for a rent of not less than €12,000 per annum in the case of property situated in Malta or €10,000 per annum in the case of property situated in Gozo or in the South of Malta.
In either case, the property must be held for a minimum period of 5 years from the date of the certificate.
The investor mustt be a third-country national (i.e. non-EU/EEA/Swiss) over 18 years of age, have a clean criminal conduct and be covered by medical insurance. Relatives who are dependent on the applicant will also benefit from the residency permit.
The certificate issued under these regulations shall be monitored annually for the first five years and every five years thereafter. Any decision, determination or verification to be made by Identity Malta under the Regulations shall be made by the Agency at its absolute discretion and shall be final and not subject to appeal. The residency permit will not be a right, but rather a privilege and the investor will need to commit to a strict code of conduct.