News

New Malta Residence and Visa Programme

Press release

Through a Legal Notice published on the 28th of August 2015, the Maltese government has launched a programme entitled "The Malta Residence and Visa Programme Regulations, 2015" aimed at increasing third-country national investors to Malta.

Malta Residence and Visa Programme

In terms of Legal Notice 288 of 2015 a Malta Residence and Visa Programme (“MRVP Rules”) has been introduced for Third Country Nationals, who are not nationals of the EU, EEA or Switzerland. A beneficiary of the MRVP and his/her qualifying dependants will be issued with a Malta Residence Permit which should entitle them to reside in Malta.

The salient features of the MRVP are:

  1. A financial contribution of €30,000 is payable by the applicant.
  2. An application fee of €5,500 is payable by the applicant. This amount is deductible from the ‘financial contribution’ mentioned above.
  3. The applicant should hold a qualifying property for at least 5 years from the issuing of the certificate, which precedes the granting of a Malta Residence Permit (“MRP”) (minimum purchase value of €320,000  for a property in Malta or €270,000 for a property in the South of Malta or Gozo, or minimum annual rental of €12,000  for a property situated in Malta or € 10,000 for a property situated in the South of Malta or Gozo).
  4. The applicant should hold a qualifying investment for a minimum value of €250,000 for at least 5 years from the date of the issuing of the certificate. Further details in relation to the nature of qualifying investments will be published in due course.
  5. The applicant must have annual income of not less than €100,000 arising outside Malta or be in possession of capital of not less than €500,000.
  6. A number of due diligence procedures have to be satisfied in order for an applicant to be admitted as a beneficiary in terms of the MRVP.

From a tax perspective, the beneficiary would not be subject to a reduced rate of Malta tax and the general Malta basis of taxation would apply.

Every application shall be presented to and examined by the competent authority – Identity Malta – through an Accredited Person and, or an Approved Agent (Deloitte Malta is an Accredited Person and an Approved Agent).

 

Further information on the MRVP is available from our tax factsheet.

Press contact:
Marketing & Communications
Deloitte Malta
Tel: +356 2343 2000
info@deloitte.com.mt 

About Deloitte

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities.  DTTL and each of its member firms are legally separate and independent entities.  DTTL (also referred to as “Deloitte Global”) does not provide services to clients.  Please see www.deloitte.com/mt/about for a more detailed description of DTTL and its member firms.

Deloitte Malta refers to a civil partnership, constituted between limited liability companies, and its affiliated operating entities; Deloitte Services Limited, Deloitte Technology Solutions Limited and Deloitte Audit Limited. The latter is authorised to provide audit services in Malta in terms of the Accountancy Profession Act. A list of the corporate partners, as well as the principals authorised to sign reports on behalf of the firm, is available here. Cassar Torregiani & Associates is a firm of advocates warranted to practise law in Malta and is exclusively authorised to provide legal services, in Malta, under the Deloitte brand.

Deloitte provides audit, consulting, financial advisory, risk management, tax and related services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 150 countries and territories, Deloitte brings world-class capabilities and high-quality service to clients, delivering the insights they need to address their most complex business challenges. Deloitte’s more than 220,000 professionals are committed to making an impact that matters.

Did you find this useful?