20 January, 2023

Reading Time: 3 min

Malta welcomed over 1,000 new permanent residents in 2022

Residency Malta Agency has announced the 2022 data regarding two programs: Malta Permanent Residence Programme and Nomad Residence Permit. Both attracted hundreds of applicants and brought €50 million to Malta’s economy.

We’re sharing the new data and explaining how to become one of Malta residents.

Author •Vladlena Baranova

Head of Legal & AML Compliance Department, CAMS, IMCM

Malta Permanent Residence Programme for investors

Malta welcomed over 1,000 new permanent residents in 2022

Malta Permanent Residence Programme and Nomad Residence Permit jointly brought more than 1,000 new residents to the country in 2022. This was summarized by the official government entity in charge of the programs — Residency Malta Agency.

According to the data:

Malta Permanent Residence Programme accepted 780 applications in 2022. Since its launch in 2016, 71% of the applications were approved, and 10% were rejected.
Nomad Residence Permit Programme has accepted 658 applications since its launch in 2021, of which 78% were approved and 8,2% were rejected. Nomads from the UK, the US, and China were approved the most.
Re-application for Malta residence permits was submitted by 72% of the holders in 2022.

Both programs earned a total of €50 million in 2022 according to Malta Home Affairs Minister Byron Camilleri.

Premium real estate market in Malta is also strengthened by residence programs

The demand for high-value properties in Malta was notably high in 2022, which led to more luxury residential and commercial projects, in both urban and suburban areas. These projects are surrounded by robust infrastructure.

One of the factors that contributed to the market’s strengthening was Malta Permanent Residence Programme. One of the mandatory conditions of the program is either buying or renting real estate.

Investors who apply for the program and choose to buy a property for at least €300,000 can resell it in 5 years. Annual property yield in Malta is currently 3,5—6%, and capital growth can reach 25% — thus investors can expect profit.

3.5—6%

Expected annual real estate yield in Malta

Minimum real estate investment amount requirements depend on the Malta region. During the five-year holding period, investors can rent their Malta property out.

Examples of properties in Malta

https://immigrantinvest.com/wp-content/uploads/2020/11/schermata-2020-10-14-alle-11.52.50-e1602669741655.jpg

location icon Malta, Kalkara

€300,000 — €1,900,000

Apartments in a large-scale residential project on the first coastline

71 m² — 310 m²

1—3

https://immigrantinvest.com/wp-content/uploads/2022/04/6f873cef.jpeg

location icon Malta, Sliema

€920,000 — €1,300,000

Apartments in a new residential high-rise project near the sea

176 m² — 211 m²

2—3

https://immigrantinvest.com/wp-content/uploads/2023/10/4-9.jpg

location icon Malta, Valletta

€1,510,000 — €3,370,000

Modern apartments not far from sea in Valetta

123 m² — 281 m²

1—3

How Malta Permanent Residence Programme works

Malta Permanent Residence Programme, also referred to as MPRP, is granted for life. However, the permit should be renewed every five years. Applicants should be non-residents of the European Economic Community, as well as the countries sanctioned by Malta.

The primary applicant, or the investor, should be over 18, have no criminal record, and have a capital of at least €500,000, of which €150,000 are in liquid accounts. They are allowed to add their family to the application: the spouse, and principally dependent children or parents.

Сase study: Malta permanent residence for a large family

There are three mandatory investment conditions in the MPRP. While applicants need to fulfil them all, the real estate condition has two options to choose from.

The MPRP investment expenses are fixed and don’t depend on the applying family composition. However, obligatory state fees will change depending on the family size.

Conditions for a Malta Permanent Residence Programme participation

Condition

Amount

When to pay

Administration fee

€40,000

€10,000 within two months after the application

€30,000 within two months after the permanent residence is approved

Approved charity donation

€2,000

Within eight months after the permanent residence is approved

Real estate

Renting for 5 years option
€50,000+ in the South of Malta or Gozo

€60,000+ in other Malta regions

Within eight months after the permanent residence is approved

Purchase option
€300,000+ in the South of Malta or Gozo

€350,000+ in other Malta regions

State fees contributions to the government of Malta are: €28,000 if the applicant chooses to buy real estate, and €58,000 if they choose to rent. In both cases, an additional fee of €7,500 is paid for each parent or grandparent.

Due Diligence check is implemented for all MPRP applicants. It is strict and consists of four tiers, including checks with Interpol and Europol. The very first tier is when Malta accepts an application pre-approved by a licensed agent.

Benefits that holders of Malta Permanent Residence Programme receive

While participants of the MPRP are not required to relocate to Malta, they regain access to their residential rights no matter where they are.

Visa-free entry to other Schengen states is allowed to permanent residents of Malta. The duration of stay is 90 days every 180 days.

Business opportunities provide ways to create an international company or find a job in Malta.

Tax residency allows them to navigate the tax system in Malta: it has offers such as 0% on dividends and royalties for legal entities.

Education access includes schools and universities in Malta and the European Union.

Immigrant Invest is a licensed agent of state programs of the European Union. If you want to buy a property in Malta and become a resident of the country, please consult the experts in investment programs.