Residency Malta Agency announced that over the past six years 2,273 people have obtained permanent residence in Malta under the Malta Permanent Residence Program (MPRP), formerly known as the Malta Residence and Visa Program (MVRP).

The MPRP program assumes that a qualified investor and his/her family members may be given permission to reside in Malta for a period of five years. It may be extended indefinitely.

In terms of refusals, about 10% of applications were rejected and about 3% of applicants withdrew their applications themselves.

“Over the duration of the programme, the number of applicants has increased steadily, hitting a peak in 2020 with 988 applications. This has positioned the programme as Europe’s second most popular and in-demand golden visa. The number of applications dropped somewhat in 2021 to around half, which still positions it as one of Europe’s most applied for visas.” – write mondaq.

Despite the decrease in the number of applications, the government is confident that their number will increase in the next 12 months.

In addition to the MPRP, Malta offers a residence permit for digital nomads and those who are not tied to a workplace and can work from anywhere in the world.

Malta’s immediate plans are to develop a program for citizens from third countries who would like to start a business in Malta and live there.

Source: mondaq