Malta IIP, GRP & MRVP
People often confuse the 3 different programs Malta that is offering: the Individual Investor Program (IIP), the Global Residence Program (GRP), and the Malta Residence and Visa Program (MRVP). Below, you will find a detailed summary of each program, including advantages & requirements.
The Malta Individual Investor Program (IIP) offers applicants a fast track to the European citizenship and the European passport in return for a one-time investment. For the main applicant the minimum one-time cost under the individual investor program is approximately €880,000.
The Maltese Global Residence Program (GRP), on the other hand, offers applicants to become a permanent resident of Malta, free travel to all European countries within the Schengen area, and the option to apply for a work permit. However, this permit needs to be renewed annually to avoid expiration. The GRP does not lead to EU citizenship, and it does not result in receiving a European passport. The annual expense (recurring minimum tax) under the global residence program is approximately €15,000 excluding legal fees, and the applicant is required to either purchase local real estate valued at no less than €220,000 or rent local real estate at an annual lease of no less than €8,750. Processing can be as fast as three months.
The Malta Residence and Visa Program (MRVP), also known as the Malta Golden Visa, leads to residency, but has no recurring minimum tax - which makes this program preferable especially for long-term residents and retirees. The MRVP program requires a property purchase of no less than €270,000 EUR (or a property lease at no less than €10,000 per year for five years). The program further requires a non-refundable one-time cash contribution of €30,000 and an investment of €250,000 in government bonds to be held for a minimum of five years. This program leads to residency in as little as three months from application start, but it does not lead to the Maltese (EU) citizenship and passport.