On January 12, 2021, the Malta MRVA Immigration Bureau officially released a new policy for the Permanent Residence Program (MRVP): Malta Permanent Residence Program.
The new Malta MRVP project has been adjusted in terms of investment methods and application conditions.It is more in line with the applicant's needs and in line with the applicant's demand for investment security, making it more operability.
*Due to the possibility of adjustments and changes in the immigration policies of various countries, please refer to the official final terms of the Immigration Bureau when you actually apply.
The detailed interpretation is as follows:
01Cancel investment in national debt and change to donation method
Old government
Applicants can invest 250,000 euros in Malta’s national bonds, stocks, corporate bonds and other financial products, or they can choose financing methods, paying 70,000 euros, and financial institutions can borrow to purchase national debt.
New Deal
Applicants donate to the Maltese government, divided into ways of buying houses and renting houses. In the house purchase mode, the applicant donated 68,000 euros, the applicant donated 98,000 euros in the rental mode, and also donated 2,000 euros to non-governmental organizations (NGOs).
Interpretation
The New Deal abolished the government bond investment method and introduced a safer and more economical donation method. That is to say, in the future, there is only one option to donate to the Malta permanent residence project.
02The purchase amount has been raised, and the rent amount has not changed
Old government
Applicants are free to choose how to buy or rent a house to meet the address requirements
Renting: the minimum fee is 10,000 euros/year for southern Malta/Gozo, and 12,000 euros/year for the northern main island of Malta;
Buying a house: The minimum price is 270,000 euros for southern Malta/Gozo and 320,000 euros for the northern main island of Malta.
New Deal
Applicants are still free to choose how to buy or rent a house to meet the address requirements
Renting: The rent requirement remains unchanged.
Buying a house: The minimum price is 300,000 euros for southern Malta/Gozo, and 350,000 euros for the northern main island of Malta.
Interpretation
The rent requirements remain unchanged; the purchase amount has increased by 30,000 euros compared to the old policy, but the corresponding government donation amount has been reduced by 30,000 euros.
03Parent/grandparent government application fee increase
Old government
5,000 Euro/person
New Deal
7,500€/person
Interpretation
Since the Immigration Bureau needs to spend more time and cost to review documents and background verification for older parents, the fee has been increased. But compared to other similar projects, it is also a more reasonable price.
04Medical insurance input costs reduced by 50%
Old government
The applicant's family needs to purchase medical insurance covering the European Schengen area.
New Deal
The applicant's family only needs to purchase the local medical insurance covering Malta.
Interpretation
Taking a 40-year-old applicant as an example, the annual premium under the old policy was about 550 euros, while the new policy only required about 250 euros, a drop of more than 50%. (The specific insurance amount is subject to the actual price.)
05Modify application conditions
Old government
The main applicant needs to prove that he has a net asset of 500,000 Euros or an annual income of 100,000 Euros.
New Deal
The main applicant needs to prove that he has a net asset of 500,000 Euros (only applicable for 5 years) and that the requirement for an annual income of 100,000 Euros no longer exists.
Interpretation
The Immigration Bureau also fully considers the convenience of some Chinese applicants to issue certification materials. Therefore, under the New Deal, applicants are only required to provide proof of assets and proof of investable funds, and the application condition option of annual income of 100,000 euros is cancelled.
06Clear time limit for investment completion
Old government
Only the first phase of government fees is required to be paid within 5 working days after the file number is obtained, and there is no clear time for the second phase of government and investment funds.
New Deal
Applicants need to pay a donation of 10,000 euros within 1 month after obtaining the file number, and pay 30,000 euros when obtaining the principle approval, and complete all investments within 8 months after obtaining the principle approval.
Interpretation
At present, the Immigration Bureau has a large number of applications. Due to objective reasons such as the epidemic situation, the applicants did not complete the investment in time after receiving the approval. The Immigration Bureau also understands this, but also clearly stated that applications under the old policy will now be required to apply in accordance with the new policy People make investments as soon as possible to complete the entire application process.
07New Deal implementation time
Old government
It is expected to close on March 28, 2021. Before that, applicants can only submit in accordance with the old policy.
New Deal
It is expected to be implemented on March 29, 2021. After the implementation of the new policy, applications from the old policy will no longer be accepted.
Interpretation
Applicants who need to catch up with the old policy should complete the document operation as soon as possible and submit an application before the formal implementation of the new policy; applicants who wish to invest in the new policy can also start document preparation now, and strive to submit applications quickly when the policy is officially launched.
With reference to the above investment conditions, we can clearly see the investment advantages of the Malta New Deal project:
★ The processing cost of the Malta New Deal is lower than the previous MRVP project, making the Malta project the most cost-effective investment project in the market.
★ Secondly, the cancellation of the national debt investment requirement, investors do not need to worry about the yield and holding period of the national debt on the one hand, and on the other hand, it can reduce the relevant operating procedures such as opening a national debt account.Thereby shortening the project processing cycle.
★ With the above positive blessings,Investors can at lower cost,Landing in Malta faster.
Singyun International will always pay attention to the latest official announcements and share them with you in time. Interested investors, please contact us as soon as possible!
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