Preliminary due diligence is a key first step in getting permanent residency in Malta under the Malta Permanent Residence Programme (MPRP). This process checks if the applicant meets the requirements set by Residency Malta Agency, reducing the risk of application rejection. Here's what preliminary due diligence involves:

•  Risk Reduction: This check helps find any issues that could cause the application to be rejected, reducing risk for both the applicant and the Licensed Agent helping you with the MPRP application. 
•  Must be 18 years and over and in possession of valid travel documents
•  Compliance Check: It ensures the applicant follows all legal and regulatory rules set by the Residency Malta Agency.
•  Smooth Process: Fixing potential problems early makes the rest of the application process smoother and faster.

Steps in the Preliminary Due Diligence Process

1.    Initial Assessment: 
●     Document Verification: Applicant must provide an identification document and proof of address. 
●     Identity Check: Verifying your identity to confirm it is correct.

2.    Financial Evaluation: 
●     Asset Verification: Confirming that you have assets worth at least €500,000, with €150,000 in financial assets; or show they have capital assets of not less than €650,000, of which €75,000 must be in the form of financial assets.
●     Income Verification: Ensuring that you have a steady and regular income to support yourself and your dependents.

3.    Background Check:
●     Criminal Record Check: Ensuring you have a clean criminal record and do not pose a threat to national security, public policy, or public health.
●     Sanctions Screening: Verifying that you are not from a sanctioned country and have not been refused residency or citizenship before.

After passing Preliminary Due Diligence, the Licensed Agent can be sure that the applicant is eligible and can move on to the next steps of the application process with confidence. This initial check greatly increases the chances of approval by solving any possible issues early on.

The process of getting permanent residency in Malta under the Malta Permanent Residence Programme (MPRP) is detailed and requires careful preparation. The next important step after the preliminary due diligence is collecting documents and submitting the application. Depending on the applicant, this stage usually takes few weeks and involves key tasks that applicant needs to prepare.  

Why is Document Collection Important

Collecting documents is crucial because it gives the Residency Malta Agency all the necessary information to check if the applicant qualifies for the MPRP. Proper documentation makes sure the application is complete, reducing the chances of delays or rejection due to missing or incorrect information. 

This step involves gathering personal and financial documents, translating them into English, and certifying them to meet the Agency's standards.

Key Activities in the Document Collection Process

1.    Engagement with Licensed Agents

The first step is to engage with experienced licensed agents, like the experts at DZ Advisory. The Agent will guide the applicant through the document collection phase and provide a detailed list of the required documents. 

2.    Compiling Personal and Financial Documents

The Agent works closely with the applicant to collect their personal and financial documents, which include:

●    Personal Documents: Passports, proof of address, birth certificates, marriage certificates (if applicable), and other identification documents.
●    Financial Documents: Bank statements, proof of income, asset declarations, and other financial records that show the applicant’s financial standing.

Each document must be translated into English if it is not already. Approved translators should be used to ensure compliance with the Residency Malta Agency's requirements.

3.    Certification of Documents

Once the documents are gathered and translated, some of them may need to be certified by a notary public. This certification confirms that the copies of the documents are true and accurate representations of the originals. Notarisation is a critical step that adds a layer of authenticity to the application.

4.    Filling Out Application Forms

The Agent helps the applicant fill out the necessary application forms. This requires careful attention to detail to make sure all information is accurate and complete. Errors or omissions in the forms can cause delays or even rejection of the application.

5.    Administration Fee Payment Upon Submission

Once application is submitted, the applicant shall pay a non-refundable administration fee of €15,000. This fee is part of the formal submission process and must be paid before the application can be processed further.

Importance of Professional Assistance

Engaging professional assistance, such as the services provided by DZ Advisory, is crucial during this phase. Experienced agents can navigate the complexities of the documentation process, ensuring that all requirements are met, and that the application is submitted correctly. Their expertise reduces the risk of errors and increases the chances of a successful application.  DZ Advisory is listed as the number one Agent on the agent list which can be found on the website of Residency Malta Agency.

After collecting documents and submitting the application, the next important phase in the MPRP is the review process by Residency Malta Agency. This step ensures that all information given by the applicant is thoroughly checked by the Residency Malta Agency. This process may take up to six months.

Why is Due Diligence Important?

Due diligence is crucial for keeping the MPRP secure and trustworthy. This thorough process ensures that only qualified and reputable individuals get permanent residency in Malta.

Key Components of the Due Diligence Process

1.    Verification of Submitted Information: The Residency Malta Agency carefully reviews all documents and information provided in the application, including passports, bank statements, and certificates. This cross-checking confirms their accuracy and authenticity.
2.    Background Checks: Comprehensive background checks are conducted to look into the applicant’s history. This involves checking international databases to ensure the applicant has no criminal record or involvement in activities that could pose a risk to Malta’s national security or reputation. Detailed background checks include criminal record checks and screening against international sanctions lists.
3.    Source of Funds Verification: The Agency checks the source of the applicant’s funds to make sure they are legitimate and not from illegal activities. This step is critical to prevent money laundering and other financial crimes.
4.    Reputational Due Diligence: The applicant’s reputation is assessed through various means, including media searches and consultations with international law enforcement agencies.
5.    Financial Scrutiny: The Agency evaluates the applicant’s financial standing, ensuring that the declared assets and income meet the required thresholds.

Outcome of Due Diligence:

●    Decision:

If the applicant passes the due diligence checks, the application will be approved.

●    Request for Additional Information:

If there are any concerns, the applicant may be asked to provide more documentation or clarification prior to taking the a decision.

Fulfilment of Investment Conditions

Once the review by Residency Malta Agency has been complete and an approval in principle has been granted, , the next step is for the applicant to fulfill the investment conditions. 

1.    Administrative Fee: 

●     Pay the remaining balance of the non-refundable fee of €35,000.

●    An additional non-refundable administration fee of €10,000 for each and every dependant of the Main Applicant (payment terms: €5,000: 2 months upon Approval in Principle and €5,000 within 8 months from Approval in Principle).

2.    Qualifying Property Requirements:
●    Buy a property for at least €375,000 
       or
●    Rent a property for at least €14,000 

■    The applicant needs to ensure that the qualifying property is held for a minimum of 5 years.  During such period the applicant is able to change qualifying property as long as there are no gaps.  Following the lapse of the initial 5 years, the applicant shall still keep a residential address in order to renew the Maltese residency card, however at this stage there would be no minimum requirements.

3.    Government Contribution: 

●    Pay a non-refundable contribution of €30,000 in case where the applicant has bought a qualifying property. In case where the applicant has rented a qualifying property, the contribution is of €60,000.

4.    Donation to a Maltese NGO:

●    Give €2,000 to a registered non-governmental organisation (NGO) in Malta.

5.    Insurances: 

●    Purchase a health insurance policy covering all risks in Malta and other European Countries for each applicant.

These investment conditions are mandatory for the successful approval of the MPRP application. Non-compliance or not providing necessary documentation can lead to delays or failure to receive final approval.

Licensed agents, like DZ Advisory Ltd., provide valuable support in navigating the investment conditions. Their expertise ensures all requirements are met promptly and accurately, increasing the chances of a successful application.

By fulfilling these investment conditions, applicants show their commitment to Malta, paving the way for final approval and getting permanent residency.

After meeting the investment requirements, and the letter of final approval is issued, biometrics capturing is the next step in getting permanent residency in Malta under the Malta Permanent Residence Programme (MPRP). This means applicants and their dependants (if any), travel to Malta have their biometric data taken by the Residency Malta Agency, which is essential to verify the identity and issue the residence cards.

Steps in the Biometric Process

1.    Scheduling a Biometrics Appointment:

Your licensed agent will book a biometrics appointment accordingly to client’s availability with Residency Malta Agency.  

2.    Travel to Malta:

The applicant and their family members must travel to Malta in order for biometric capturing to take place.  

3.    Capturing of Biometrics data:

Applicants need to visit the Residency Malta Agency to have their fingerprints taken. This is a simple process that usually takes less than an hour.  It is important to follow Residency Malta Agency’s instructions to ensure the process goes smoothly.

4.    Residence Cards:

Once the biometrics are captured, and all residence forms collected, the application is sent to the department of residence (Identita’) for printing. The Agent shall collect the residence card on behalf of the applicants.

The Malta Permanent Residence Programme (MPRP) offers a clear and structured pathway for individuals seeking permanent residency in Malta. This guide provides a comprehensive, step-by-step overview of the process, ensuring applicants understand each stage and what is required to achieve successful residency. 

Below, we outline the key steps involved in obtaining permanent residency in Malta, ensuring a smooth and efficient application process.

Getting Permanent Residence Cards

After getting final approval, the next step in the MPRP is receiving your permanent residence cards. 

Steps to Receiving Permanent Residence Cards

1.    Certificate Issuance:

Process: The Residency Malta Agency issues a Certificate of Residence after the final approval. This certificate confirms the applicant's new status as a permanent resident.

2.    Submission of Biometrics:

Process: After submitting biometrics, the Residency Malta Agency produces the permanent residence cards. These cards are then sent to the licensed agent in order to be handed over to the applicants.
Validity: The permanent residence card for adult applicants is valid for five years. For minors, the card is renewed one month after they reach the ages of 14 or 18.

Applicants do not need to travel to Malta again to collect the residence cards, as these are sent directly to their Agent.

Annual Review of Compliance with the Programme Terms

Once you have received your permanent residence cards, maintaining compliance with the MPRP terms is crucial. For the first five years, the Residency Malta Agency conducts annual reviews to ensure all conditions of the programme are being met.

Key Aspects of the Annual Review:

1.    Real Estate Compliance:

●    Requirement: The investor must continue to own or rent qualifying real estate in Malta.

2.    Financial Compliance:

●    Requirement: The investor must maintain a capital of at least €500,000, out of which a minimum of €150,000 must be financial assets; OR €650,000, of which €75,000 must be in the form of financial assets.

3.    Other Compliance Checks:

The Residency Malta Agency may also verify other aspects such as the validity of health insurance coverage and any other requirements specified by the MPRP.

Maintaining compliance with these terms is essential to retain permanent resident status in Malta. Failure to comply with any of the programme requirements may result in the revocation of residency status.

DZ Advisory, can assist in ensuring ongoing compliance with the programme terms, making the annual review process straightforward and stress-free for the applicant.

Applicants are required to appoint a licensed agent to assist in the process of acquiring Maltese permanent residency through the existing programmes offered by Residency Malta Agency. DZ Advisory is a licensed agent with licence no: AKM-DZAD. Our diversified team is backed up by wealth of experience in the immigration field and can guide you and your family to successfully obtain Maltese residency. 

Eligibility criteria, investment options and other requirements for Malta Permanent residency:

•  Applicable for third-country national (Non-EU/EEA/Swiss)
•  Must be 18 years and over and in possession of valid travel documents
•  Covered by a valid health insurance policy that covers all risks in Malta and other European countries
•  Holds a clean criminal record
•  Hold capital assets of not less than €500,000, out of which a minimum of €150,000 must be financial assets; OR €650,000, of which €75,000 must be in the form of financial assets

Property requirement

•  Purchase option:
Purchase qualifying property for a minimum value of €375,000 and hold for 5 years;

OR

•  Rent option:
Rent qualifying property for a minimum value of €14,000 per annum for 5 years.

Direct contribution to Government of Malta:

•  A direct contribution fee of €60,000 is required if applicants opts for renting of property. In case where applicant purchase property, a direct contribution of €30,000 is required.
•  The direct contribution has to be settled within 8 months following the issuance of a Letter of Approval in Principle.

•  Donate €2,000 to a NGOs;

•  A fee of €27.50 per person per year for the issuance of the residency card.

DZ Advisory focus on bringing its best expertise to individuals, investors and families looking to relocate or invest in Malta. Our Malta-based office is equipped with multilingual professionals who are experts in sensitive data handling and can advise interested stakeholders or their advisors about their eligibility and ideal investment opportunities in Malta.