On March 26, 2021 local time, Identity Malta officially announced the Malta Permanent Residence Program ( MPRP), and officially opened applications on March 29.
Today, Xiaoxing will introduce to you the specific content of the New Deal and the details of the amendments one by one.
Investment requirements
1. Government donation
Renting method: donation amount of 58,000 euros
How to buy a house: donation amount of 28,000 euros
2. Charitable donations
2000 Euro to local non-profit organization
3. Real estate investment (holding for five years)
Purchase amount: more than 350,000 euros on the main island of Malta, more than 300,000 euros on the island of Gozo/Southern Malta
Rental amount: minimum 12,000 euros/year on the main island of Malta, and minimum 10,000 euros/year on Gozo/Southern Malta.
First of all, from the investor's point of view, the investment method is simpler, canceling the original government bond investment, saving investors the trouble of buying government bonds and opening accounts for fund companies.
Secondly, in terms of investment amount, the minimum overall investment amount is only 70,000 euros, including 58,000 euros of donations, 2,000 euros of charitable donations, and 10,000 euros of rent for a year. Remittance is less difficult and investment is more convenient.
In short, The investment model of the New Deal is "government donations + charitable donations + real estate investment". And since then, the 250,000 euro bond investment option is completely cancelled. No matter where it is, real estate investment must be maintained for at least 5 years. The rent threshold has not changed.
Proof of assets
Investors need to provide proof of assets exceeding 500,000 Euros, of which 150,000 Euros can be financial assets. The Maltese national debt investment residence program requires an annual income of 100,000 euros or fixed assets of 500,000 euros. In fact, investors need to provide liquid assets of 250,000 euros.
Therefore, the new policy further reduces the investor’s asset certification requirements, enabling more applicants to meet the requirements of the project, thereby achieving the purpose of settling in Malta.
Application process
In principle, the main applicant must pay the final administrative fee of EUR 30,000 (non-refundable) within 2 months after the approval letter is issued.
The main applicant must complete the following investment requirements within 8 months after the issuance of the notice of approval in principle:
(A) Donate 68,000 or 98,000 euros to the Identity Management Bureau;
(B) Provide qualified real estate investment certificates;
(C) Complete a 2,000 euro charitable donation and provide proof of donation to the Identity Bureau;
(D) The purchase of comprehensive insurance that usually covers Malta;
(E) Provide other documents required by the Act;
During the application process, the ID card bureau set a clear time limit and implemented it in strict accordance with the time node, thus shortening the processing cycle of the case to a certain extent.
Identity attributes
The bill clearly mentions that the identity paper issued by the Identity Bureau allows applicants and their affiliated applicants to reside, settle and live in Malta indefinitely. The Identity Management Bureau further clarified the permanent residence attributes of Maltese identity in the form of a bill.
Summary of advantages
The method is simple: donating to the government is convenient and safe;
Accelerated approval: the official announcement materials are complete and approved within 4-6 months;
Cost reduction: the investment amount is reduced to 68,000 euros, and the asset certificate is reduced to 500,000 euros;
Cost-effective: No residency requirements, one person applies, four generations of family immigrants.
Malta, as the only four-in-one country in the heart of the Mediterranean, its permanent residence status is already favored by investors. I believe that with the orderly restart of the entire world, a new permanent residence in Malta that saves time, worry and money Plan (MPRP), will surely set off another round of investment boom in the Chinese market!
Cyprus
Turkey
Saint Kitts and Nevis
Greece
