Residency Malta, the agency responsible for the administration of the “Nomad Residence Permit,” and “Malta Permanent Residency Programme” (MPRP), announced that through the agency’s programmes targeting high-earning remote workers and well-to-do individuals, over a thousand people applied to move to Malta in 2022. Home Affairs Minister Byron Camilleri added that the agency’s programmes contributed €50 million to Malta’s economy last year.
People who are employed by a foreign company to work remotely, or are self-employed, can apply for the Nomad programme if they earn at least €32,400 annually. From the applicants, 78% were approved and 8.2% were rejected. British nationals made up 16% of all applicants, whilst 14% were American and Chinese. Nomad permits are renewed annually and 72% of Nomads in Malta re-applied for the permit in 2022. 780 applied in 2022 under the Malta Permanent Residency Programme.
People with a net worth of at least half a million euro can apply for MPRP, with 60% of that amount being liquid, or near liquid in bank accounts or investments, stocks, etc. They must buy or rent property and give a direct contribution of either €58,000 if they rent a home or €28,000 if they buy one. A €2,000 donation to a voluntary organisation is also mandatory.
Home affairs minister Byron Camilleri said, “in a world dominated by uncertainty Malta is stable and growing”. “The programmes of Residency Malta seek to attract foreigners who want to move to Malta for a better quality of life,” he said.
More information about Malta’s residency programmes can be found here: https://nomad.residencymalta.gov.mt/
