The Malta golden visa program is one of the quickest ways to obtain EU citizenship. An investor can apply for a new passport in only one year after making investments. In comparison, in most European countries it takes about 5 years to obtain a passport.
New rules came into force on 29 March 2021 and the program itself is now called The Malta Visa and Residence Programme (MRVP). Though these changes did cause a lot of concern initially, the government have not tightened its requirements, but rather made investments even more profitable both for entrepreneurs and the country.
The MRVP scheme is available to those who are not EU, EEA or Swiss nationals and who have a stable income and savings.
As soon as the government agency Identity Malta accepts an application for citizenship, applicants immediately receive a residence card that entitles them to live in Malta and travel freely to all Schengen countries.
Features that set the MRVP apart from other programmes include:
New rules were recently accepted regarding the MRVP, and a new agency, Residency Malta, was established to manage the applications.
According to the new rules, the requirement to invest €250,000 in government bonds was abolished and replaced by a small mandatory donation to a Maltese registered non-governmental organisation. Maintenance requirements for the main applicant have also been changed.
An individual must now provide the following information:
According to the new rules, health insurance will now only need to cover Malta and not the entire EU. This change should result in an annual reduction in the insurance premium.
For the sake of comparison, let’s have a look at the rules that were in force before 29 March 2021.
Information provided by the main applicant:
The main applicant may include their spouse, parents, grandparents and grandchildren in their application by paying an additional €5,000 per person. Children born or adopted by the main applicant after the initial application approval date can also be included.
If you need more information about the details and nuances of obtaining Malta citizenship by investment, please contact our experts at Imperial & Legal. We monitor all changes in the legislation and will help you choose the best option for obtaining residence permit and citizenship.
We will work with you to find a customised solution for your immigration, second citizenship, business, tax and other needs.
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