Malta Start-Up Residence Programme Launched
During the Malta Start Up Festival organised by Malta Enterprise, a new residence programme for non-EU nationals was launched. Non-European nationals who want to open or bring their start-up to Malta can benefit from a three-year residence permit for themselves and their family members. Founders and co-founders of start-ups can further renew their residence permit for another five years, whilst core employees of the company can renew their card for a further three-year period.
Malta Start up Residence Programme Benefits
During the launch of the Malta Start up Residence Programme it was explained that only reputable and innovative start-ups with sound business plans would be approved. In order to be eligible for a Maltese residence permit, business plans would need to be approved by a government entity, Malta Enterprise. The aim of this programme is to facilitate the setting up or transfer of innovative start-ups in Malta, whilst supporting the immigration process of the founders, co-founders, core employees and family members. Applicants under this programme are required to have a tangible presence in Malta, including living and paying taxes.
Founders and co-founders of start-ups who apply under the programme need to ensure that their business has not been registered for more than seven years anywhere globally. Additionally, the start-up is required to make a tangible investment or have a paid-up share capital of not less than €25,000.
The €25,000 investment covers up to four co-founders. An additional €10,000 needs to be invested per additional co-founder. In any case, the maximum number of co-founders eligible for the Start-up Residence Programme is six.
Start-Ups are eligible if they are engaged in one or more of the following sectors: manufacturing, software development, industrial services analogous to manufacturing, health, bio-technology, pharmaceuticals, life-sciences, eco-start-ups involved in blue, green and sustainable industries, and other innovative economic activities.
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