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.
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.
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:
Eligible business projects must meet at least two of the following criteria:
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.
The fees applicable for applying for the Malta Start-up Residence Programme are as follows:
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.
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.