The Malta Residence and Visa Program Regulations, 2015 were brought about as a replacement of the old Malta Residence Program in 2015. The program has been modified keeping in view the changing realities. The program is administered by a regulatory body called “Identity Malta” which has been formed under the same regulations and it also evaluates all the forms.
From January 2021, details were given about a new residency program, which shall be entitled “Malta Permanent Residence Program”. This program is set to replace the Malta Residence and Visa Program (MRVP), which shall be phased out by March 2021, and after the new program receives the green light from Parliament.
The Malta Permanent Residence Program is set to increase the revenue generated by such programs and seeks to put to Malta further on the map.
This new program will also see the launch of a new agency, the Residency Malta Agency and a partial reform of the MRVP.