Until now, the MRVP’s financial requirements included three core elements:
- Investment in government stock worth EUR 250,000 or other stock/equities listed and trading on the Malta Stock Exchange to be retained for at least five years;
- A property purchase of EUR 320,000 (EUR 270,000 in South Malta or Gozo), or a property lease of EUR 12,000 per annum (EUR 10,000 in South Malta or Gozo);
- A non-refundable government contribution of EUR 30,000 (of which EUR 5,500 constituted an advance payment of the government administrative fee).
If the changes as announced today are approved by Parliament, the requirement for an EUR 250,000 investment in bonds would be removed entirely, while the minimum investments in real estate will rise to EUR 350,000 and EUR 300,000 (South of Malta or island of Gozo). Minimum rent levels will remain unaltered at EUR 12,000 and EUR 10,000.
Rather than asking investors to boost treasury liquidity by purchasing bonds, the government will increase the direct contributions requirement; the government contribution will rise from EUR 30,000 to EUR 68,000 (for those who buy a property) and EUR 98,000 (for those who choose to rent).
The government is also introducing an entirely new financial requirement; a mandatory EUR 2,000 contribution to a Malta-registered NGO.
Though the administrative fees (covering the work of processing, due diligence, etc.) for the main applicant, spouse, and children are covered by the EUR 68,000/98,000, an additional fee of EUR 7,500 for a spouse, a parent, or a grandparent will apply, as well as a fee of EUR 5,000 for any adult children added after the initial approval.