The MRVP scheme offers its beneficiaries and dependents the possibility of a Universal Schengen Visa. With such a residence permit, the applicant and his dependents have the possibility of travelling freely across the Schengen Area without the need of a VISA.
To be eligible for the MRVP programme, the applicants must be third country nationals who are not long-term residents of Malta. Furthermore, they must pass all due diligence procedures and satisfy the following criteria:
- hold a qualifying property in Malta valued at least €320,000 (€270,000 if situated in the south of Malta or Gozo) or renting it for at least €12,000 per annum (€10,000 if situated in the south of Malta or Gozo);
- have an annual income of at least €100,000 or accumulated capital of €500,000;
- holds a qualifying investment of an initial value of €250,000;
- pay a non-refundable administration fee of €5,500 and the balance of €24,500 upon approval