2
Dec

The Residency Malta Agency together with Malta Enterprise has recently launched The Malta Start-up Residence Programme, which grants its beneficiaries a three-year residence permit renewable for a further 5 years, as well as eligibility for long-term residency in Malta. The programme is designed to boost Malta’s competitiveness and attract innovative start-ups and qualified entrepreneurs to the island whilst making it easier for such individuals and families to relocate to Malta.

Applicant Eligibility

• Must be third country nationals of eighteen years of age or over;
• Have the intention to develop and/or expand a qualifying start-up in Malta;
• Be the founder or co-founder of a business enterprise which has not been registered for more than seven years and which satisfies the following requirements:
• It has not been formed through a merger;
• It has not distributed any profits to date;
• It has not taken over the activity of another enterprise.
• Must be the founder or one of the first co-founders of the start-up;
• The founder and/or co-founders must obtain a physical presence in Malta in terms of living (physical presence);
• Purchase or rent a residential property in Malta;
• Be covered by a health insurance policy;
• Not have previously had applications for a residence status or citizenship rejected in Malta or abroad.

Duration

Successful applicants will be granted a three-year residence permit, extendable for an additional five years during which beneficiaries can reside in Malta while launching their start-up venture.

This programme is open only to non-EU nationals. Nationals of (or those who have close ties with) Afghanistan, North Korea, Iran, Democratic Republic of Congo, Somalia, South Sudan, Sudan, Syria, Yemen, and Venezuela may not apply.

Business requirements

The start-up must be incorporated as a limited liability company in Malta and is required to have an investment and/or paid-up share capital of not less than €25,000. In case where more than four co-founders apply for the Start-up Residence Permit, an additional €10,000 needs to be invested per each additional co-founder. The maximum number eligible for the Start-up Residence Programme is six co-founders per start-up.

Along with the residency application, applicants must also provide a business plan to Malta Enterprise for evaluation. The agency will only consider applications in relation to start-ups active in one of the following industries:

• Software development;
• Manufacturing;
• Health, biotechnology, pharmaceuticals, and life sciences;
• Eco start-ups involved in blue, green and sustainable industries;
• Other innovative economic activities which are enabled through knowledge, and technology providing services or products which are currently not readily available in the relevant market or which shall be provided through a process which is novel;

Eligible business projects must meet at least two of the following criteria:

• Propose products and/or services that have the potential to generate income from various geographical markets;
• Produce products and/or services which are new, innovative or substantially improved compared to complementary products on the market;
• Utilise processes which are new or substantially improved compared to those currently adopted.

Employees and family members

This programme is also open for core employees who are vital for the start-up to start operating in Malta and who have specialised skills and earn not less than €30,000. In addition, this employment needs to take place within the timeframe in which the venture is classified as a start-up. Likewise, the residence permit will be issued for a three-year period and may be extended for a further three years. The application for core employees must be submitted online after the Malta Start-up Residence permit is approved for the co-founders.

Family members of start-up founders, co-founders and core employees are also eligible for a residence status in Malta under this programme. Their permits will have the same validity period of the residence permit of the start-up founder/co-founder or core employee. These include spouses, de-facto partners, minor children and adult sons or daughters who are principally dependent on the founder/core employee.

Application fees

The fees applicable for applying for the Malta Start-up Residence Programme are as follows:

• €750 per adult/dependant;
• €82.50 to Identity Malta for the issuance of the Residence Card for each individual applicant.

The Malta Start-up Residence Programme is designed to complement Malta’s existing offering to internationally mobile and qualified individuals and does not supersede other programmes or legislation already in place.

Our Services

Corrieri Cilia is holder of licence AKM-FORT-22 and is authorised to represent applicants at the Residency Malta Agency.

Our team will be glad to assist qualifying clients with the application for the Start-up Residence Permit including assistance with incorporation of Maltese company, liaising with Malta Enterprise and Residency Malta Agency.