Compliance
Is the requirement to show €500,000 capital valid just for the first 5 years?
The beneficiary is required to hold the €500,000 capital with €150,00 in financial assets for the first five years only.
For applications submitted from 1st January 2025:
The beneficiary is required to hold the €500,000 capital with €150,00 in financial assets or else hold the €675,000 capital with €75,000 in financial assets for the first five years only
Note: For applications submitted from 1st January 2025, the capital requirement should either be €500,000 or else €675,000.
After 5 years, will the beneficiary need to submit any other compliance forms since this will be done at the discretion of the Agency? Do all obligations need to be retained? Is there any fee to be paid? Is there any documentation that needs to be filled and submitted?
After five years, the beneficiaries do not need to retain the qualifying property. However, if the beneficiaries would like to extend their stay in Malta, they are still required to retain a residential property and obtain health insurance to cover risks in Malta and other European countries. The Agency has the right to ask the beneficiaries, via the licensed agents, to provide proof of residential address and health insurance, while also undertaking due diligence checks to ensure the beneficiary and dependents are still eligible. At its discretion, the Agency also reserves the right to carry out random property spot-checks.
Does the duration of lease have to correspond with the residence card, i.e. if residence card is issued for 5 years, will a client require a 5-year lease?
The duration of the lease has to be not less than a year to comply with the set requirements. But the beneficiary must always have a valid residence in Malta with no gaps whatsoever.
What is the renewal process for the residence cards? Is this also done via the agent?
Residence cards are issued with a validity of 5 years, unless the minor dependant turns 14 or 18 years old, in which case the card validity ceases on the dependant’s birthday. In the latter cases, the card is renewed automatically. Renewal requests after the 5-year expiry have to be done via the agent. The renewal procedure is subject to change. Biometric data has to be recaptured before cards can be extended.
What is the Official Compliance Form referred to in the Guidelines?
The MPRP5 Compliance Form is an official form that the beneficiaries must fill out every year for the first five years, and thereafter at the discretion of the Agency. This form is a declaration that the beneficiary’s obligations are being satisfied according to the regulations. The form must be completed and signed by the beneficiary. The Agents are responsible for ensuring that this form, along with all supporting documentation, is submitted as instructed in the respective circulars related to the compliance checklist. This submission should be made one (1) calendar week in advance, but not later than two (2) calendar weeks after the specified compliance due date. It is important for agents to adhere to the deadlines specified on both their portal and the Letter of Compliance. Additional documents and/or further clarifications requested through form MPRP41 must be submitted within a (3) three-week calendar period. Failure to do so may result in the revocation of residence cards for the entire application.