Just minutes ago, Executive Chairman of the Malta Residence Visa Agency – the official government agency that administers the Malta Residence Visa Programme – Roderick Cutajar, has informed Investment Migration Insider that a series of changes to the program requirements will come into effect as of today.
In his interview with Investment Migration Insider, published some two weeks ago, Cutajar revealed that he was planning to implement significant changes to the program based in large part on the feedback he’s been getting from international immigration agents and their clients, in order to make the MRVP even more competitive.
- The thirty thousand euro (€ 30,000) contribution fee now covers the main applicant, spouse, and the children of the main applicant and/or the spouse at application stage;
- Introduction of an additional five thousand euro (€5,000) non-refundable contribution, per parent or grandparent of the main applicant or of the spouse at application stage;
- The age limit (previously 27) at application stage for unmarried, economically dependant children over the age 18 has been removed. This means that qualifying children over the age of 27 at the time of application can be included;
- Children of the main applicant and/or his/her spouse, who would have qualified as dependants at the application stage, will now not lose the residency rights on their 27th birthday, or if they become economically active or get married. If they marry or enter into a similar relationship they may also be able to add their spouse/partner and their direct dependants for an additional contribution fee of five thousand euro (€5,000) each and subject to successful due diligence checks;
- Removal of the requirement for the main applicant and his/her dependants to spend outside of Malta a period that exceeds either six consecutive months or an aggregate period of ten months in any four-year period from the appointed day. This means that the certificate issued under these Regulations shall be deemed to constitute a permit issued in terms of Article 7 of the Immigration Act, conferring on the person to whom it is issued the right to land and to remain permanently or indefinitely in Malta. This also means that the main applicant and his/her dependants will become eligible to apply for Long-Term Residence status subject to the respective requirements being satisfied;
- The option for the main applicant, to apply against a non-refundable supplementary administration fee of five thousand euro (€ 5,000) per person, to include on the main beneficiary certificate (subject to a successful due diligence check):
- The children, born or adopted after the approval date, of a previously approved dependant child of the main applicant and/or the spouse, or of the previously approved dependant child’s spouse.
- The children, born or adopted after the approval date, of the main applicant or of his spouse.