What benefits does the MRVP certificate give the main applicant and his dependents?
The MRVP certificate has permanent validity. Maltese residence would grant them the right to travel to any Schengen country without the need to obtain a visa where this is normally required.
Are the prescribed forms submitted in English and may supporting documentation be presented in any other language?
The application is to be submitted in the prescribed form and therefore is to be completed in English. Original documents may be presented in any language, however they need to be accompanied by an authenticated and apostilled translation. Translations carried out in Malta by professional translation agencies do not need to be translated?
What are the main grounds for refusal?
Identity Malta will review applications on a case-by-case basis, however the main grounds for refusal would be if the applicant provides false information, has a criminal record or is subject to criminal investigations, poses a potential threat to national security or poses a reputational risk for Malta.
Does the applicant have to travel to Malta to obtain the Maltese e-residence card?
Yes the applicant and his/her dependents must travel to Malta for biometrics to be taken before the issuance of the Maltese e-residence card and the collection of the cards
May the MRVP certificate be revoked?
Yes, the MRVP certificate may be revoked if:
(i) The following conditions are not fulfilled:
a) The beneficiary does not hold the Qualifying Property for a minimum period of 5 years during which said Qualifying Property cannot be transferred to third parties or let or sub-let;
b) The beneficiary does not hold the Qualifying Investment for a minimum period of 5 years;
c) The beneficiary is no longer in possession of stable and regular resources which are sufficient to maintain himself/herself or his/dependents;
d) The beneficiary is not in possession of sickness insurance for himself/herself and/or his/her dependents;
e) The beneficiary does not continue to earn an annual income of €100,000 or no longer continues to possess a capital of not less than €500,000.
(ii) The individual becomes a Maltese, EEA or Swiss national;
(iii) The individual becomes a long-term resident;
(iv) The individual stays legally and continuously in Malta for a period of 4 years or more;
(v) The individual becomes a threat to national security, public policy or health;
(vi) The individual no longer continues to possess a clean criminal record or is subject to criminal investigations.
Are the beneficiaries required to physically stay in Malta for a particular number of days in order to continue to avail of the MRVP?
No. There are no obligations in this regard.
Are there any Tax implications?
Malta adopts an Anglo-Saxon model of taxation, thus embracing the
concepts of domicile and residence.
Persons who are residents but not domiciled in Malta are taxed on a source and remittance basis, that is on income and capital gains arising in Malta and on income arising outside Malta which is received in Malta. Any capital gains arising outside of Malta would not be taxed, even if remitted to Malta. MRVP beneficiaries are considered to be residents but not domiciled in Malta.
Beneficiaries of the MRVP certificate may be eligible to tax incentives granted under a separate programme, namely the Global Residence Programme. This grants the beneficiary
the beneficial tax rate of 15% on foreign source income remitted to Malta with the possibility of claiming double tax relief.
What happens upon the demise of a beneficiary of the MRVP?
Following the death of a beneficiary, Identity Malta has the discretion to determine that the MRVP certificate shall be issued to a dependant of that deceased beneficiary. Such certificate shall be issued only once said dependent provides proof to