A new residency scheme, The Malta Startup Residence Programme, has been launched jointly by Malta Enterprise and the Residency Malta Agency. The programme was set up to attract non-Europeans and non-EEA entrepreneurs willing to bring their StartUp to Malta. The main goal being to support innovative start-ups and scale-ups while facilitating their family’s immigration process in Malta.
The residence permit will be issued for an initial period of three years following the approval of Malta Enterprise approving the viability of the project and Residency Malta approving the residence permits following due diligence procedures.
A further five-year renewal will be granted if the business continues to be economically viable and all the necessary criteria are still being fulfilled.
Startups operating in one of the following sectors only will be eligible to participate in the programme:
- Software development;
- Industrial services analogous to manufacturing;
- Health, biotechnology, pharmaceuticals and life sciences;
- Eco startups involved in the blue, green and sustainable industries; and
- 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.
The incorporated startup must have not been registered for more than seven years anywhere in the world and will be required to place a tangible investment or paid-up share capital of not less than €25,000. In cases where more than four co-founders apply for the residence permit, an additional €10,000 each needs to be placed. The maximum number of co-founders eligible for the startup residence programme is six.
Contact us to set up a complementary call to discuss your eligibility, tax implications and kick start the process – firstname.lastname@example.org