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Malta Permanent Residence Program Price Increase
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The Malta Permanent Residence Program (MPRP) is undergoing significant updates effective January 1, 2025, introducing increased financial thresholds and revised eligibility criteria. Here are the key changes summarized:
Changes Effective January 1, 2025:
- For applicants securing permanent residence under the MPRP with a lease or property purchase, the capital outlay will increase by a minimum of 15% for single applicants and a minimum of 50% for larger families.
- The minimum annual rent of the lease must be at least €14,000, regardless of location (previously, €10,000 in Gozo/South and €12,000 elsewhere).
- The purchased property must be at least EUR 375,000 (previously, €300,000 in Gozo/South and €350,000 elsewhere)
- The definition of adult children are now defined as below 29 years of age, unmarried, and principally dependent (previously there was no age limit, but children must be wholly dependent).
- Applicants may now meet the financial eligibility by either:
- Showing €500,000 in assets, of which €150,000 must be financial assets or
- Showing €650,000 in assets, of which €75,000 must be financial assets.
Transitional Period:
- Applications under the current cost structure can still be initiated before December 18, 2024.
- Full submissions must be completed by March 28, 2025.
Why Act Now?
The MPRP remains the most cost-effective EU residence option, and this transitional period offers a limited opportunity to secure residency under the current, lower-cost structure.
How Can the Latitude Group Help?
The Latitude Group (license AKM-LATI) is an official government agent. In 2021, our government advisory team was one of the lead contributors to the launch of the Malta Permanent Residence Program.
Our team in Malta has managed hundreds of applications and has more combined experience than any other firm globally. They work together with our worldwide offices as one team, to ensure a simple, efficient and successful application for you and your family.
Next Steps:
For those considering Malta’s Permanent Residence Program, this is a crucial time to act before the upcoming cost increases, to secure your application under the current costs, please contact us today.