An Outline on the Maltese Residency Programmes
2,273 applicants were granted the Maltese Permanent Residency in the last 6 years.
The Residency Malta Agency issued a report on the residency programmes, that offers an opportunity to non-EU individuals to obtain a permanent residency in Malta. This report is the first of its kind, comprising a number of statistics in relation to the Malta Residency Visa Programme (MRVP) and from its successor the Malta Permanent Residency Programme (MPRP) which was launched one year ago, in March 2021.
Since the launch of the MRVP, during the last six years, 2,273 main applicants and 5,303 dependants are enjoying a 5-year permanent residency in Malta. Malta seems to be the country of choice to reside in by Chinese nationals who tops the chart of Approvals by Nationality with 87%, followed by the Vietnamese at 2.9%, the Russians at 2.6%, South Africans and Turks at 1%. Applicants from other countries make up for the rest at 6%.
The number of approved main applicants has been increasing year after year since 2016, reaching the highest number of approvals in 2020. During this year, a total of 988 main applicants have been granted Maltese residency, which figure had doubled from the previous year where 400 approved applications have been registered in 2019. This indicates that the Maltese Residency was the most sought residency programme in 2020, dropping to second place in 2021.
In 2021, application approvals decreased by almost half of what was granted in the previous year, amounting to 500 permanent residency approvals. The cause for the fall in applications is likely due to travel restrictions introduced in Malta in order to contain the spread of Covid-19 virus which took over the world. The airport closure for weeks and travel bans from selected countries had caused a significant impact on the application process.
The transition from MRVP to MPRP may also be the reason for the drop in approved applications between 2020 and 2021. In 2022 it is projected that the total number of applications will be on the rise again, given that the new programme will be well run in its course.
The revamp of the existing permanent residency was not the only programme announced last year by the Agency. The change of the working environment forced by the Covid-19 situation, made employees switch to remote working and seek new countries to live in for a short period of time. In light of this change, the Residency Malta Agency introduced the NOMAD residency, which allows non-EU applicants to explore the islands while retaining their current employment in other countries. The NOMAD programme offers three different categories that independent teleworkers can be eligible in, which makes it easier for any NOMAD to consider Malta as his next short-stay destination. Interested individuals with a gross monthly income of €2,700 are eligible to apply in either one of the following categories;
- Holds an unexpired work contract that is issued by a foreign registered company, or
- Conduct business activities as a partner or shareholder for a foreign registered company, or
- Offer consulting and freelance services to clients that have permanent companies and establishments registered in a foreign countries, and for which the applicant has contracts to proven.
The Agency is currently preparing a completely new programme that aims to attract third-country nationals who are start-up investors wishing to permanently reside here, subject to achieving the required and legal criteria to successfully establish a fruitful business for Malta. This new permit should entice entrepreneurs to invest and register their start-ups in Malta, bringing along their new and innovative ideas which will help shape the future of the Maltese industries and economy.
Our multilingual professionals at DZ Advisory would be glad to assist you with your enquiries. If you would like to receive more information, please provide us with your contact details and one of our team members shall be in contact with you promptly.
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