Frequently Asked Questions

Transcription

1 Frequently Asked Questions These Frequently Asked Questions are meant as general guidelines to particular situations which have been referred to Identity Malta Agency. In case of conflicting views between these Frequently Asked Questions and the pertinent legislation, it is the LN288 of 2015 that prevails. The replies given in latest version of this document prevail over those given in previous versions. The latest version is the one found on the MRVP website. 1. Eligibility & Fees Q1.1 Who is eligible to apply? R1.1 European Union nationals are not eligible to apply, since the provisions of our regulations themselves exclude them from applying. All other nationals are eligible, excluding nationals from Afghanistan and North Korea. In the future, applications from other countries may also be excluded in accordance with Government policies. Q1.2 Can parents or grand-parents of the Main Applicant be applied for as dependants? R1.2 Yes. A parent or grandparent of the Main Applicant or of his/her spouse, who proves to the satisfaction of the Minister that he/she is not economically active and is principally dependant on the Main Applicant, is eligible as a dependant. If a grandparent is being applied for as a dependant, proof that shows the link between the grandparent and the Main Applicant/spouse has to be provided (such as for example a family-tree through birth certificates of the Applicant/spouse, the birth certificate of the respective parent, and then the grandparent). Q1.3 Can household staff be eligible as dependants? R1.3 No. For the time being, the Malta Residence and VISA Programme is only open to Main Applicant and his/her family dependants. Q1.4 In the case of an application for the entire family, are there additional fees? R1.4 No. The 30,000 covers the entire family. However a residence card processing fee applies when a residence card is issued or renewed. The fee is of for a one-year time period per person. Hence a card valid for 5 years carries a fee of Q1.5 What is the validity period of the Residence Certificate and the Residence Card? R1.5 The Residence Certificate does not expire. The Residence Card is valid for 5 years. MRVP FAQ V5.0 Page 1 of 24

2 2. Qualifying Investment Q2.1 What form of investment is acceptable? LN288 mentions an investment of 250,000 in Government bonds and stocks. R2.1 For the time being the Qualifying Investment will consist of Government Stocks, equivalent to 250,000 (Market Value). These stocks/bonds can be purchased from a suitable stockbroker. Identity Malta Agency will need a receipt or a certified true copy of the purchase agreement. Q2.2 Can an Applicant open an account in Malta? R2.2 An Applicant may open an account in Malta at his/her discretion. Q2.3 What is the return the Beneficiary gets on the Qualifying Investment? At what interval is interest paid? R2.3 This does not fall within the remit of Identity Malta Agency. Matter is to be discussed with a qualified stock broker and/or banking institution. Q2.4 What is the procedure for buying the Qualifying Investment? R2.4 This has to be tackled with a qualified stock broker and/or banking institution. Identity Malta Agency would need a certificate confirming this investment. Q2.5 After the initial 5 years, with regard to the qualifying investment, can the Applicant sell the bonds and still hold a Maltese residency? R2.5 Yes he may sell the qualifying investment after 5 years and still retain Maltese residency on condition that other requirements stipulated in LN 288 of 2015 are still met. Q2.6 Will the Beneficiary be required to retain an investment portfolio, after having satisfied the obligation holding this for five years, for the residence card to be re-issued? R2.6 No. He/she may sell the qualifying investment portfolio. Q2.7 Can the Applicant take a loan to buy the Qualifying Investment? R2.7 This is at the discretion of the Bank. Q2.8 Are the Funds which invest exclusively in Malta Government Bonds accepted as a form of qualifying investment? R2.8 Yes, they are. MRVP FAQ V5.0 Page 2 of 24

3 3. Qualifying Property Q3.1 Do Applicants need to own/lease property at application stage? R3.1 No, not necessarily. The Applicant has to own/lease property after receiving the Letter of Approval in Principle. However, a property that would have been leased/purchased before the application submission and which satisfies the rules found in LN288 of 2015 regarding the Qualifying Property, is still acceptable. Q3.2 Can the Beneficiary sell or stop leasing the declared qualifying property during the first five years and replace it with another qualifying property? R3.2 Yes, during the first five years the Beneficiary can sell the qualifying property and buy/lease a new property as long as he continuously satisfies the qualifying property conditions. He would have to inform the RAP/RAA who in turn should inform Identity Malta Agency. A certified true copy of the purchase/lease agreement of the new qualifying property has to be submitted to IMA as evidence. Q3.3 Would the Beneficiary have to commit himself not to sell the property for the first five years if he decides to purchase a property? How would this be monitored in practice? R3.3 No the Beneficiary does not have to commit himself not to sell the qualifying property. This can be sold as long as it is replaced by another qualifying property. The monitoring happens on an annual basis for the first 5 years through the submission of a Form MRVP5 - Official Compliance Form, which is to be signed by the Beneficiary and the RAP/RAA and submitted by the RAP/RAA to Identity Malta Agency. After the first five years, monitoring will happen once every five years. Q3.4 Would purchasing a number of rooms in a hotel and owning these for a period of 5 years, naturally without anyone else having access to the rooms in the meantime, qualify? R3.4 No, these are not accepted as a Qualifying Property. The Main Applicant must lease or purchase a residential property. Q3.5 A client explained that he has just bought a property in the South of Malta for circa 190,000 and will be spending a minimum of 100,000 (arising outside Malta) on it - therefore the total cost to him will be in excess of the 270,000 required for a property in the South. Will this be considered to satisfy property investment of the Malta Residence and VISA Programme? R3.5 If the purchase of the property has happened after LN288 of 2015 came in to force, the determining factor is the value of the property as declared on the contract of sale. Therefore the said scenario does not satisfy the Qualifying Investment criteria. If, on the other hand, the property were bought PRIOR to the date of coming in force of LN288 of 2015, the following prevails: MRVP FAQ V5.0 Page 3 of 24

4 Provided that an immovable property purchased before the date of coming into force of these regulations for a consideration which is less than the amounts indicated in paragraphs (a) or (b) above shall be considered to be "qualifying owned property" insofar as the value of such immovable property, as declared on the date of application by the Applicant, is not less than the amounts indicated in paragraphs (a) or (b) above as supported by a separate and independent architect valuation including architect s plan which are delivered to Identity Malta Agency upon application: Provided further that Identity Malta Agency, or any officer authorised by it in writing, architect or surveyor shall have full and free access to the qualifying owned property to the extent that such access is likely to assist him in determining the value of the said property; Therefore, the value must be met at the date when the application is submitted and not after the Letter of Approval in Principle is issued. Q3.6 Would an AIP permit (to buy or rent) the qualifying property be required for a non-eu citizen who is applying under this Programme if the property is not in a special designated area? R3.6 Yes, the acquisition of immovable property (AIP) permit is still required. Q3.7 Would the minimum property requirements no longer apply, after a qualifying property has been held for the first 5 years? R3.7 The Beneficiary is not obliged to retain possession of the Qualifying Property stipulated in the respective legal notice. However, to retain residence he must provide a suitable residential address. Q3.8 Is it possible for the Main Applicant to first rent and then buy a property? R3.8 Yes, it is possible, as long as the qualifying criteria are satisfied in both stages. Q3.9 Can the Applicant take a loan to buy the Qualifying Property? R3.9 This is at the discretion of the Bank. Q3.10 During application stage Applicant undertakes to fulfil the obligation to buy or rent the property in Malta together with the investment obligation. Is an affidavit enough or do you need a promise of sale/rent agreement? R3.10 The declaration is part of form MRVP1, which needs to be signed before a Commissioner of Oaths. MRVP FAQ V5.0 Page 4 of 24

5 Q3.11 It is quite normal for property to be co-owned by the Main Applicant and his/her spouse, children and sometimes grandparents. Would this be accepted as evidence of the 500,000 capital? R3.11 Co-ownership is acceptable up to and including spouse and children, as long as the spouse and the children are included in the application If, the Main Applicant is applying on his/her own, only the value of his/her individual share will be accepted as forming part of his/her declared capital. 4. Proof of Assets Q4.1 If the Applicant is in possession of assets amounting to 500,000, or an annual income of 100,000 (arising outside Malta) is the amount applicable only to the Main Applicant or is it applicable also to the other listed dependants? R4.1 The amount is applicable to the Main Applicant only. Q4.2 If the Applicant is in possession of assets amounting to 500,000, or an annual income of 100,000 (arising outside Malta) does this amount change if the application is for the Main Applicant and other dependants? R4.2 No the amounts do not change with the number of persons covered under one application. Q4.3 With respect to monitoring requirements, if the certificate is provided on the basis that he/she has in his/her possession assets amounting to 500,000, or if the Applicant is in possession of an annual income of 100,000 (arising outside Malta), does this monitoring requirement also apply for dependants listed on the certificate? And in what form should these declarations be presented to Identity Malta Agency? R4.3 No, monitoring of assets will only be conducted on the Main Applicant and is not applicable to dependants. The declarations will be made through the submission of form MRVP5 Official Compliance Form, which is to be signed by the Beneficiary and the RAP/RAA and submitted by the RAP/RAA to Identity Malta Agency. The Beneficiary signs to endorse that the information submitted is true, factual and correct. The RAP/RAA signs for administrative purposes only. After the first five years, monitoring will happen once every five years. Q4.4 Is the 500,000 capital requirement distinctive from the value of property acquired in Malta together with the 250,000 invested in government stocks? R4.4 Yes, they are different, distinctive requirements. Clients should provide: 250,000 investment in qualifying Government Bonds + Property valued at 270,000/ 320,000 or rent of 10,000/ 12,000 pa + Capital of 500,000 and/or 100,000 (arising outside Malta) income per annum. MRVP FAQ V5.0 Page 5 of 24

6 Q4.5 In regard to 100,000 (arising outside Malta) proof of annual income; is the declaration by the employer enough? R4.5 Yes, as long as there is enough information on the employer. Evidence, such as salary slips or contract of employment showing the annual salary, would suffice. Q4.6 The guidelines make reference to a Statement of Source of Wealth and Source of Funds. What is Identity Malta Agency expecting in this regard? R4.6 The Statement of Wealth and Source of Funds has been incorporated in form MRVP2. Also, a bank statement of the Applicant s main account for the last 3 months is also required. Q4.7 Not many people keep cash in a bank account for a long time; they may have investment in property, security or business. Can the Applicant present a security/investment portfolio and/or property appraisal and/or company financial accounts? R4.7 Yes these documents are acceptable as long as they are issued from a reputable company or an official entity. These documents will accompany the necessary MRVP forms, including form MRVP2 which includes the statement of Source of Wealth and Source of Funds. Identity Malta Agency is interested in the individual financial capabilities and the Applicant must convince the Board that he/she has enough funds to sustain him/herself and dependants. What is important is that reliable evidence is presented to sustain the Applicant s declaration. Q4.8 Who needs to provide proof of income: Main Applicant or also the dependants? R4.8 Only the Main Applicant is to provide proof of income ( 100,000 (arising outside Malta) annually and/or ownership of 500,000 in kind or in cash). Q4.9 At which stage does the Main Applicant have to submit an affidavit declaring that he/she has a sufficient annual income? R4.9 This declaration is part of the latest version of form MRVP1, which is now considered as an affidavit, and hence is submitted as part of the application pack. Q4.10 With regard to the 500,000 capital requirement, would an architect s appraisal (valuation) be acceptable as evidence for Identity Malta Agency in order to establish the total net assets of a client if his/her assets were primarily real estate (and not necessarily cash or other liquid assets)? R4.10 Yes, an architect s appraisal is acceptable and real estate can form part of the Main Applicant s capital requirement. Q4.11 Is a spouse considered to be a dependant if he/she has assets or sources of income? R4.11 Although the spouse is considered as a dependant, nothing precludes him/her from being in possession of certain assets and of sources of income. MRVP FAQ V5.0 Page 6 of 24

7 5. The Due Diligence Process Q5.1 With respect to the know your customer evidence and due diligence processes, in which format is such evidence to be presented to Identity Malta Agency by the RAP/RAA? R5.1 The RAP/RAA is responsible for introducing reputable Applicants, hence the need to ensure that RAP/RAA supports Identity Malta Agency by forwarding printed reports with regard to enquiries conducted from reliable sources on potential Beneficiary and all dependants over the age of 12. Other information that could be provided by RAP/RAA will facilitate Identity Malta Agency to conduct a proper due diligence assessment. RAP/RAAs must remember that they should keep evidence of their investigations, for which they are solely responsible. Q5.2 At which stage do RAP/RAAs need to submit evidence of KYC and other due diligence processes? R5.2 These have to be submitted during the application stage. Q5.3 With respect to the due diligence process which will be initiated once the full documents of the Main Applicant and his/her dependants have been submitted, may you advise on the time frame of the aforementioned due diligence? R5.3 We are anticipating that the full process, which includes the due diligence stage, will be carried out throughout a period of 3 to 4 months. 6. Checklist of documents to be presented during application submission Q6.1 Where do I find a list of documents that have to be presented during application submission stage? R6.1 A list has been introduced in the Application and Documentation Guidelines available on the Identity Malta Agency website. Q6.2 Would the department require the original birth certificates, marriage certificates, etc., at a later stage? R6.2 No. We require such certificates at application stage and they may be submitted either as original or certified true copies of originals. These documents should be either apostilled or legalised, as the case may be. If such documents are in a language other than English these should be translated to English. Translations done abroad should be apostilled or legalised. Translations done in Malta should be carried out by a registered translator. MRVP FAQ V5.0 Page 7 of 24

8 Q6.3 How should an RAP/RAA proceed if the Main Applicant and/or his/her dependants are not able to obtain a police conduct from a particular country? R6.3 As per Sections 6.2.a and 7(b) of LN288 of 2015, the first preference is a police certificate issued by the Malta police as well as a police certificate issued by the competent authorities (federal or national) in the country of origin and in the country or countries of residence where the Main Applicant has resided for a period of more than six months during the last ten years. Only in exceptional cases, where it is proven to the satisfaction of Identity Malta Agency that such a certificate is not obtainable, we would require an affidavit from a Police Official and/or a Government Entity in his/her country of origin or where he has resided for a period of more than 6 months in the last 10 years, confirming that good faith attempts were made by the Applicant to obtain the required certificates. Moreover, another separate sworn affidavit made by the Applicant and any dependants, declaring a clean criminal record is required. Q6.4 In cases where the Applicant has never resided in Malta, is a police conduct certificate issued by the Maltese police still required? R6.4 No, it is not required. Q6.5 Would a Main Applicant need to submit a copy of divorce certificates, signature and copy of passport of the divorced partner(s) in case of dependent children? R6.5 In case of a divorced individual whether a Main Applicant or a qualifying dependant - a divorce certificate must invariably be submitted. In the case where the Main Applicant has sole legal custody, there is no need to obtain the signature of the divorced partner, and a copy of the divorced partner s passport. The client, in this case, must provide a court document showing that he/she has sole custody of the child/children. However, if the Main Applicant has a shared custody of the child/children (dependants), there will be the need to obtain the signature of the divorced partner on Form MRVP 4 and a certified true copy of his/her passport. In the case where the divorced partner has sole legal custody, the Main Applicant can include the child as his/her dependant if the divorced partner signs Form MRVP4. Please note that in all the above case the Main Applicant may be replaced by the Spouse. In other words what applies for the Main Applicant applies for the Spouse. Q6.6 Apparently, in the case of minors, consent by both parents is required. In this regard, may you kindly advise which application forms should the parent (who is not part of the MRVP) sign to give his/her consent for the minor to be part of the MRVP with the other parent? R6.6 Reference is being made to Form MRVP4 Declaration of Dependant. In case Applicant has sole custody of the child/dependant, his/her partner is not required to sign any additional papers. This is without prejudice and subject to the national laws in the child s country of origin. In the case of shared custody the other parent has to fill in Section C and provide a copy of his/her full passport. MRVP FAQ V5.0 Page 8 of 24

9 Q6.7 Would the RAP/RAA need to submit any documents prior to setting up an appointment with the Customer Care of MRVP in order to place the application? R6.7 No, there is no need for any documents prior to setting up an appointment. The RAP/RAA must simply ensure that all documents stipulated in the guidelines/application forms, are provided to Identity Malta Agency on submission of application pack. Q6.8 With regard to the Representation Agreement/Power of Attorney to be entered into between Applicant and RAP/RAA: Does the representation agreement have to be in some particular form? R6.8 It is at the discretion of the RAP/RAA and the Applicant to agree on the form of the representation agreement, which is our case has to be a fully fledged Power of Attorney. The following points must be included in the PoA: 1. Date of POA; 2. Details of Main Applicant i.e. full name, passport number and country of issuance and residing address; 3. Details of RAP/RAA being appointed attorney i.e. full name, ID Card number and residing address; 4. Validity to cover the full duration of the application process, from submission to collection of Residence Certificates and Residence Cards; 5. Signature of Grantor; 6. Signature of Attorney, and 7. Full name and signature, passport number and country of issuance of Witness. Q6.9 If the Main Applicant confirms that he/she holds share in a company that is publicly listed (that is, it is a PLC) are company documents to be submitted with the Application Pack? R6.9 If the Main Applicant s shareholding exceeds 25% of the total shareholding in a publicly listed company, the company documents are required. Q6.10 Is documentary evidence of residential address required only for the Main Applicant or for all adult dependants, including the spouse? R6.10 We only need documentary evidence of the Main Applicant s residential address. Q6.11 Do expired residence permits need to be submitted together with the valid ones during the submission of the application pack? R6.11 No, only residence permits which are still valid at the time of application need to be submitted, for Main Applicant and all dependants. Q6.12 What proof would be considered as satisfactory in proving that an adult dependant (child, parent, grandparent) either of the Main Applicant or his/her spouse, is not economically active and that he/ she is principally dependent on the Main Applicant? MRVP FAQ V5.0 Page 9 of 24

10 R6.12 The Main Applicant must declare this in an affidavit. It is recommended that any documentary evidence that corroborates this declaration is submitted with the application pack together with the affidavit. Q6.13 In the event that the parent or grandparent, either of the Main Applicant or the Spouse, receives some form of retirement income, will he/she still remain eligible to be included as a dependant? R6.13 Yes, they would be eligible. However, the Main Applicant must still provide an affidavit confirming that the afore-mentioned parents or grandparents are his/her or her dependants. Q6.14 Is there a specific template for the Affidavit of Dependency? R6.14 No, there is no specific template. However, it is advisable to make use of the wording found in LN288 of Questions with regard to the supporting documentation to be submitted with the application forms and MRVP2, MRVP3 and MRVP4 Q7.1 In accordance with Article 6 (2) (c ) - (f) the Applicant must provide an undertaking to purchase or lease a qualifying immovable property, to make the qualifying investment in Malta and to remit the total of the non-refundable contribution. Is the declaration on Form MRVP 1 sufficient or do you require a separate undertaking executed by the Applicant? R7.1 The declaration in Part C on the MRVP 1 Form suffices. Q7.2 Article 6 (2) (f) refers to a certificate requested from a reputable health system to the satisfaction of Identity Malta Agency. Does Part E of MRVP3 suffice or is a separate certificate required? Also would you need evidence of the licence/warrant to be provided in relation to the physician examining and certifying the medical report and questionnaire (Form MRVP3)? R7.2 Yes, it is covered by Part E of form MRVP3. It is recommendable that a copy of the licence or equivalent, is included with form MRVP3. Q7.3 Please refer to the qualifications and general requirements mentioned in Article 7 (c ) (h) of Legal Notice 288 of 2015, being some of eligibility criteria for the Applicant and dependants. Please advise whether it would suffice if the Applicant and the dependants provide a declaration sworn before a Commissioner of Oaths confirming what is listed in the mentioned sub-articles of Article 7 of the said legal notice or if anything else is required. R7.3 Part C in the form MRVP 1 and parts A or B, as applicable, in the form MRVP 4 suffices. No additional requirements are needed unless specified by the MRVP Unit. MRVP FAQ V5.0 Page 10 of 24

11 Q7.4 A statement of Source of Funds and Wealth is one of the documents which will be required - would an administrative form have to be completed? R7.4 No more documents are required as this has been incorporated in form MRVP2. Hence the information requested in Form MRVP2 should suffice. Q7.5 Which administrative forms would need to be completed for the Applicant and his/her dependants upon submission of application pack? R7.5 There are four forms that are required per individual: The Main Applicant requires: 1. Form MRVP1 (Application form) 2. Form MRVP2 (Personal Details), and 3. Form MRVP3 (Medical Report and Questionnaire) 4. Form MRVP6 (Clearance form) Each Dependant that is mentioned in the Form MRVP1 (Application form) requires: 1. Form MRVP4 (Dependant Declaration) 2. Form MRVP2 (Personal Details), and 3. Form MRVP3 (Medical Report and Questionnaire) 4. Form MRVP6 (Clearance form) for dependants over 12 years of age on the date of application. Notwithstanding this, other documents may be introduced in the future, as the need arises. It is imperative that the latest version of these forms are downloaded from our website just before the application process commences. Q7.6 Please can you confirm if there is a minimum amount of health insurance required for each MRVP Applicant and dependant? R7.6 Yes there is. It is 30,000 (thirty thousand Euros) minimum. It is important to submit the endorsement letter, or equivalent, clearly listing details of cover, including: 1. List of persons insured 2. Minimum cover per person per annum 3. Covers EU countries 4. Validity of cover has to be of a minimum of 1 years, renewable 5. Not a travel Policy 6. Covers full hospitalisation 7. No exclusions in cover Q7.7 We are in contact with some people in China and they have informed us that notaries in mainland China do not notarise and apostille documents. Have you encountered this problem/issue? What is the applicable procedure that is acceptable to MRVP? R7.7 Yes, we have already encountered similar occurrences. Official documents/notarial certificates originating in China have to be legalised, meaning that such documents have to be certified by the foreign ministry of China and subsequently have to be certified by either the Maltese Embassy in Beijing or the Maltese Consulate in Shanghai. Several Applicants have already done this without encountering issues. MRVP FAQ V5.0 Page 11 of 24

12 Q7.8 What happens if the Main Applicant cannot produce a birth, a marriage or a divorce certificate when applying for residency? R7.8 We shall accept application however during its processing they would still need to provide such certificates, or the family book, or equivalent, wherever this is produced. Each case will be dealt with on its own merits. Q7.9 Which are the official documents and in which format may they be submitted? R7.9 Official documents are: 1. Birth Certificate 2. Marriage Certificate 3. Divorce Certificate 4. Passport 5. Police Conduct (Original only is accepted) 6. Military Records 7. Award of Custody Original Official Documents need to be apostilled/legalised by the government authority of the issuing country. A Certified True Copy of an apostilled/legalised original is acceptable. However, if certification is done abroad, an apostille/legalisaton of the certifier is required. Translations of original or of certified true copies of these official documents need to be apostilled/legalised if done abroad. Q7.10 In which language should a self-declaration be submitted? R7.10 A self-declaration, has to be signed and dated by the issuer and has to be submitted in original. Any self-declarations not in English must be translated to English. Translations done abroad have to be apostilled/legalised. Translations done locally do not need to be apostilled/legalised but have to be carried out by a Malta registered translator. Q7.11 Should parents or grandparents applying be above a certain age? R7.11 No, there are no age threshold. Q7.12 We assume that evidence of Business ownership is applicable only to the extent that the Main Applicant has declared that he is self-employed. Kindly confirm. R7.12 In the case of business ownership, whether in part or in full, this is required whatever the declared employment status. Hence this is always required. MRVP FAQ V5.0 Page 12 of 24

13 Q7.13 Is evidence of employment required when the Main Applicant has declared that he is not selfemployed. R7.13 Evidence of employment is required when the Main Applicant has declared that he is not selfemployed. Q7.14 What evidence would a Main Applicant, who declares that he is both self-employed and not selfemployed? R7.14 In the case where the Main Applicant is both self-employed and not self-employed, he has to mark both options in Part C of form MRVP2 and has to produce evidence on both his/her employment and his/her self-employment. Q7.15 How should Form MRVP 4 be completed? R7.15 In case of minors who are less than 12 years old on the date of application, just the tick box in Part B and all of part C have to be completed. In the case of a minor dependant who is between 13 and 18 years Part B and Part C have to be completed. In the case of an adult dependant Part A is to be completed. Part C1 is to be filled in and signed by the Main Applicant or the Spouse, who is to select in which role he/she is submitting the form by selecting Main Applicant or Spouse in the appropriate Field. If he/she has sole custody, he/she has to denote this by ticking the box denoting sole custody. Part C2 is to be filled in by the other parent/legal guardian of the minor unless the other parent has sole custody. Again, this person (other parent/legal guardian) has to tick whether he/she is the Main Applicant, the Spouse or a Non-Applicant in relation to the minor whose details are written on the form. Q7.16 Is it only Form MRVP1 which requires the signature of the Commissioner for Oaths? R7.16 The MRVP1 is a sworn/affirmed declaration and therefore has to be signed in front of a Commissioner for Oaths (or whoever is empowered to administer oaths in the respective jurisdiction), who has to stamp, sign and date the form. Moreover, both the Main Applicant and the Commissioner for Oaths have to initial each page. Q7.17 On the Form MRVP3 (Medical Report and Questionnaire), if a specific hospital/doctor fills in and signs the form, do they still have to supplement a medical test report R7.17 The form should suffice as long as it is accompanied by the patient s identification document which is stamped, signed and dated by the examining physician. Q7.18 Which hospitals are accepted by the Maltese authority? If international hospitals are accepted and the client has the examination record in English, is an apostille from the Maltese Embassy required? R7.18 National and international hospital are accepted. There is no need for an apostille. MRVP FAQ V5.0 Page 13 of 24

14 Q7.19 When there is no Maltese Embassy or Consulate in a certain country, or if the Main Applicant so desires, can a local lawyer/solicitor/notary be the witness for the signature on Form MRVP1 and any other affidavit? Also, can a local Court be the witness of the signature? R7.19 Whoever is empowered to administer oaths in the respective jurisdiction, and we have official confirmation that this is the case, can witness the signature on Form MRVP 1 and other affidavits. A commissioner for oaths could also be available in local Courts of Law. It is to be remarked that all signatures should bear the stamp of office and any other relevant details. 8. Submission of application Q8.1 Would the Main Applicant need to be present when the application is submitted? R8.1 No. The RAP/RAA will submit the application on behalf of the client. Q8.2 How would the initial 5,500 be settled? R8.2 The 5,500 have to be transferred via an electronic bank transfer into account number in the name of Identity Malta Agency with Bank of Valletta plc. At the time the application pack is accepted by IMA, a request for payment is handed over to the RAP/RAA, who is to affect payment within 3 working days, quoting IMA Application Reference number. Q8.3 What would you consider an appropriate agreement with the RAP/RAA; would a copy of our company s standard Letter of Engagement suffice as proof for this purpose? R8.3 IMA does not need a copy of the Letter of Engagement. What is actually required, is a valid Power of Attorney clearly granting the rights to the Attorney to handle the application until the date of the finalisation of the relevant application process. Q8.4 Does Identity Malta Agency require any specific format for the submission of the application, including referencing, etc? R8.4 Yes, please follow the Recommended Filing Order in the Application and Documentation Guidelines found on Identity Malta Agency Website Q8.5 A19 of form MRVP2 refers to ID card details of issuing country. Is a copy required with the application (translated, certified, apostilled)? R8.5 Yes: it has to be a certified true copy and translated if not in English. Moreover, if translations are done abroad these need to be apostilled/legalised. Translations done in Malta should be carried out be a certified translator. MRVP FAQ V5.0 Page 14 of 24

15 Q8.6 With regard to dependants; is the affidavit of dependency the only requirement as proof of dependency or is any additional proof/supporting documentation required? For instance: school certificates, certificate of retirement, etc? R8.6 The affidavit of dependency should suffice but any evidence would facilititate the process. Q8.7 Are there any guidelines on the fees which RAP/RAAs should be charging in connection with their services for the purposes of the Malta Residence and Visa Programme? R8.7 It is at the discretion of the respective RAP/RAAs/individuals to decide which fees to charge their clients. Q8.8 The RAP/RAA has to provide a covering letter stating why the Main Applicant is interested in obtaining residence in Malta. Why would the client not be doing this in the form of a Letter of Intent, as they do in the other programmes? Also, in the checklist they make reference to a covering letter being signed by the RAP/RAA. Would this not be the usual cover letter we hand to you to sign, as the description matches what we would usually know as the Letter of Intent? R8.8 We require an introductory letter of the prospective Applicant from the RAP/RAA. The Main Applicant may also opt to forward a letter of intent. Q8.9 Can the RAP/RAA submit one marriage certificate per couple as we do in the IIP programme, rather than one from each married person? With regard to divorce certificates, do they have to be provided all or do the most recent ones suffice? R8.9 There is no problem with producing one marriage certificate (or a certified true copy) for a wedded couple. In our case we need all divorce certificates. Q8.10 Is a written signed declaration from the client adequate? Or do they have to submit an affidavit? R8.10 In certain cases a written signed declaration is needed, as in the declaration of wealth/income, for example. In other cases, and this is specifically stated, an affidavit is required, for example, when Main Applicant declares that the dependants over 18 years are economically dependent on him/her. Q8.11 Affidavits Is a Commissioner for Oaths a suitable person to attest to the signature of the affiant? R8.11 Yes, the Commissioner for Oaths is a suitable person for this function. MRVP FAQ V5.0 Page 15 of 24

16 9. Issuance of Letter of Approval In Principle, Residence Certificate, Biometrics and issuance of Residence card Q9.1 What will happen once the application packs are submitted by the RAP/RAA? R9.1 A receipt of the application pack is given to the RAP/RAA who is also requested to pay the initial fee of 5,500. Once these are received by IMA, a due diligence exercise on the Main Applicant and dependants is done. If this is successful, the Letter of Approval in Principle is issued by the MRVP team. Following this process, which will take 4-5 months, the Main Applicant will need to buy/lease the Qualifying property, buy the Qualifying Investment and purchase the necessary Health Insurance Cover. The Main Applicant will be allowed a timeframe of three months (we can extend as the need arises) from the receipt of the Letter of Approval in Principle. Once the Main Applicant provides all the documentation, IMA will issue a letter of invitation to the Main Applicant (AKA beneficiary), inviting him/her and his/her dependants to call at our offices for the capturing of biometric data. With 3 to 5 days IMA will issue the Residence Certificate and Cards. Q9.2 Will the Residence Certificate and the Residence Card have expiry dates? R9.2 As long as all requirements stipulated in LN288 of 2015 will continue to be met, the Residence Certificate will not have an expiry date and the Residence card, which will reflect the said immigration position, will be initially valid for a period of five years, renewable. In cases where a Residence Card is issued to a minor of less than 14 years, and the minor turns 14 within the normal 5 year card validity, the expiry date of such minor s card, will fall due one month after his/her 14 th birthday. The same applies when dependant turns 18 years of age. Q9.3 Is there any exemption from submitting the biometrics, for instance if a person is a baby or disabled? R9.3 Yes, children are exempt from biometrics up to the age of 6. However form ID2 together with 2 certified passport size photos need to be submitted for each child. With regard to people with disabilities, each case will be decided on its own merits. Q9.4 Will a language test be carried out to test the Main Applicant s and the dependants knowledge of Maltese/English? R9.4 No. Q9.5 Upon renewal of Residence Card after 5 years, do other fees apply? R9.5 Yes. Each individual has to pay per year to have the Residence Card renewed. Q9.6 Following the initial five year period, upon renewal of residence card, are the Main Applicant and other beneficiaries required to come to Malta to retake their biometrics? R9.6 Although 3 sets of biometric data are captured for each Applicant, thus having 2 extra sets in file, the extra sets might be used up in case of technical issues, and/or in case of a change of address and/or in case of a loss of card during the validity of the card. In such circumstances, Applicant and/or his/her dependants will be required to come to Malta for biometric data capturing. In cases where a MRVP FAQ V5.0 Page 16 of 24

17 Residence Card is issued to a minor of less than 14 years, and the minor turns 14 within the normal 5 year card validity, the expiry of such minor s card, will fall due one month after his/her 14 th birthday. In such a case, another set of biometric data will be used. The same applies when dependant turns 18 years of age. Q9.7 Would Identity Malta Agency support or facilitate the issuance of visas for Applicants for travelling purposes? R9.7 Identity Malta Agency can only provide support through the Central Visa Unit after the Letter of Approval in Principle has been issued. Q9.8 Will the commencement of lease need to be as close to Identity Malta appointment as possible? R9.8 Ideally the Lease Agreement should commence closest to the submission of the final proofs. The same applies to the Health Policy. Q9.9 Is the health policy required to be submitted together with other requirements once an application has been approved? R9.9 Yes, the Health Policy endorsement, or its equivalent, has to be submitted. Q9.10 After acceptance of the application, where do the Applicants have to provide the Biometric data? Does the whole family have to travel to Malta? R9.10 After the letter of invitation, the Main Applicant and all dependants have to travel to Malta to have their Biometric data captured. However, at the discreton of IMA and given certain conditions, Biometric data capturing can also be done in China. In the latter case, Main Applicant and Dependants would have to travel to Malta to collect their residence cards. 10. Period outside Malta during the 5 years of benefitting from an MRVP residence permit Q10.1 How will Beneficiary and dependants show that they have been away from Malta for the stipulated period? R10.1 Identity Malta would need an annual (in the case of the first five years) declaration from the Beneficiary that states that he/she and all dependants are complying with this requirement when submitting Form MRVP5 - Official Compliance Form. Q10.2 Can a foreigner ever apply for the acquisition of Maltese Citizenship by naturalisation? R10.2 Yes, a foreigner may submit an application for the acquisition of Maltese Citizenship by naturalisation after continuously residing in Malta for a period of five years. He/she should have resided in Malta throughout the twelve months immediately before the date of application and four years out of the MRVP FAQ V5.0 Page 17 of 24

18 preceding six year period. He has to be knowledgeable in spoken/written English & Maltese, of sound mind and of good conduct. The Minister has the discretion, according to the Law, to grant or refuse the application. It does not, therefore, mean that if such a person satisfies the said conditions he/she would be automatically granted citizenship by naturalisation. The Minister s decision is based on internal policies, whereby amongst other requirements, the number of years could also be a feature in the examination of the relative request. Q10.3 Is a minimum presence required in Malta on the part of the Applicants? Are no days spent in Malta allowed? R10.3 There is no minimum presence required. 11. Licence of employment Q11.1 May a Beneficiary under the programme be granted an automatic licence to be employed or to engage in business in Malta in view of the provisions of Article 11 of the Immigration Act? R11.1 No, LN 288 of 2015 does not entitle the Beneficiary to any employment licences. Beneficiary still needs to apply for a work permit. Q11.2 How can the Beneficiary and/or dependants apply for a work permit? R11.2 As things stand today the dependants, except the spouse, cannot be economically active to retain residency rights under the MRVP. The Beneficiary and the spouse can apply for a work permit by submitting an application for a work permit through the normal channels. Q11.3 How can the Beneficiary and/or dependants apply to set up a business in Malta? R11.3 The Beneficiary or spouse can apply, through the competent authorities, to launch a business in Malta, as long as they satisfy the prevailing legislation. A dependant can also take this route but, if the application is accepted, he/she would lose his/her status as dependant under the MRVP as he/she would no longer be economically inactive. Q11.4 Taxation of working clients: I found information about a flat tax rate of 15% on foreign source income remitted to Malta and 35% on Malta source income. What does this mean please? R11.4 This Programme doesn t carry any tax grants and/or incentives. The statutory tax applies and it is recommended to seek the advice of a tax consultant. Q11.5 Would a minor dependant of an Applicant be entitled to free education whilst residing in Malta? If so, does this apply also to Secondary and Tertiary (i.e. University) education? MRVP FAQ V5.0 Page 18 of 24

19 R11.5 No, under the MRVP a minor is not entitled to free education. However, if the Main Applicant acquires a work permit, his/her children would be entitled to free primary and secondary education in state schools. Q11.6 Can Applicants work in an EU country under the MRVP? R11.6 The MRVP does not grant the Beneficiary any employment rights in the Schengen Area. Therefore, he or she will need to apply for a work permit in the Schengen country according to the provisions of the particular country. 12. Travel Q12.1 Will the holder of the residence card be allowed to travel Visa free throughout Europe or only in Schengen countries? R12.1 Holders of the MRVP residence card may only travel to Schengen countries and for a maximum period of 90 days within a 180 day period. The traveller should invariably carry a valid travel document. 13. Change in status of a person benefitting from the MRVP Q13.1 Once a dependant reaches his/her 27th birthday, does that dependant automatically lose his/her right of residence in Malta? Would the said dependant be required to, on or before reaching the age of 26 years, apply for an MRVP in his/her name? R13.1 Yes, when reaching 27 years of age the dependant concerned will lose his/her residence status even if he/she continues to be a dependant of the Beneficiary. If he/she satisfies the conditions of the programme as a Beneficiary in his/her own right, he/she may submit a separate application. He/she may do so prior to his/her 27th birthday provided that he/she relinquishes his/her right of residence as a dependant. If he/she is unable to meet the conditions of the programme, any request to remain in Malta shall be considered on the merits of the case and in accordance with national rules and policies prevailing at that time. Q13.2 When minor children under MRVP reach the age of 18, do they lose their Malta residence status? R13.2 No, they do not lose their MRVP residence status as they still qualify until they are 27 years old as long as they satisfy the regulations of the LN288 of Q13.3 If a Beneficiary decides to give up his/her residence right in Malta within the first 5 years and move to another country, can he/she then sell the bond immediately, or does he/she have to wait for 5 years until he/she can sell the bond? Same question applies to the rental agreement: If he/she wants to leave Malta before the lapse of the first 5 years, can he/she then get out of the rental agreement or does the rental agreement have to be for a five period? In our view, this can be done but naturally this will result in the cessation of the certificate. MRVP FAQ V5.0 Page 19 of 24

20 R13.3 The fact that he/she sells the bond and does not adhere to the qualifying property agreement, the client will automatically lose his/her status and this applies vice versa, that is, if he/she relinquishes his/her certificate, there will be no obligations to fulfil. If a Beneficiary relinquishes and/or loses his/her residency rights, any dependants benefiting from residency rights through the same certificate will automatically lose their residency rights. 14. The Official Compliance Form (MRVP 5) Q14.1 What is the Official Compliance Form (MRVP 5) that is referred to in the Guidelines? R14.1 The Official Compliance Form (MRVP 5), which is referred to in the Guidelines, is an official form that the Beneficiary will have to fill-in once a year for the first 5 years, and once every 5 years thereafter and the RAP/RAA being responsible for the submission of such form. The OCF is in itself a declaration that the clients obligations are being satisfied according to regulations. This form has to be filled in and signed by the Beneficiary. The RAP/RAA s responsibility is to ensure that this form is timely provided to MRVP together with all the supporting documentation. The RAP/RAA has to sign this form is for collection and administration purposes only. Q14.2 What will the renewal process for the residence cards be? To what extent will the RAP/RAA be involved? R14.2 Residence cards will be issued for a validity of 5 years, unless the minor dependant turns 14 or 18 year old, in which case the card validity ceases on the dependant s birthday. In the latter cases, the card is renewed automatically, free of charge. Renewal requests for the normal 5 year expiry, have to come from the RAP/RAA, as long as the beneficiary continues to comply with the regulations of LN288 of 2015 accordingly. Q14.3 Will the duration of lease have to correspond with the residence card? I.e. if residence is issued for 5 years, will a client require a 5 year lease? R14.3 Preferably for a duration of five years notwithstanding yearly renewals are acceptable as long as a copy of the renewal of lease is attached with the MRVP5 (OCF). Q14.4 After 5 years, Beneficiary will need to submit the Official Compliance Form every 5 years, to show that he or she is still fulfilling the obligations. Do all obligations need to be retained? Is there any fee to be paid? Is there any documentation that needs to be filled and submitted? R14.4 After five years your client doesn t need to retain the qualifying investment nor the qualifying property. The same applies for the EUR500,000 capital and/or the EUR100,000 income per annum. Notwithstanding, he/she is required to provide us with a suitable residential address to re-issue the respective residence card. MRVP FAQ V5.0 Page 20 of 24

21 15. Commission to Concessionaire Q15.1 Can an RAP/RAA introduce an Applicant who is a national of a country which forms part of a concession? R15.1 RAP/RAA may introduce Applicants from any country, even if a concessionaire has been awarded the concession of the Applicant s country. Q15.2 If the Applicant comes through an RAP/RAA and not from the concessionaire, will the concessionaire be granted a commission from the Applicant s contribution or will Identity Malta/the Government keep the whole investor contribution and not distribute any amount to the concessionaire, because he did not introduce the Applicant? R15.2 The Concessionaire is still entitled to a commission if and when a client in the Concessionaire s region, referred by an RAP/RAA, acquires the relevant residence certificate. 16. Clients who change programmes Q16.1 If an MRVP Beneficiary decides to change to the Malta Individual Investor Programme (IIP), will the 30,000 contribution be deduced from the IIP fees? R16.1 No. The 30,000 fee paid for MRVP is non-refundable and non-transferable. Q16.2 Can a client change his/her IIP application over to the MRVP? As yet, the client has not submitted his IIP Citizenship application, however he has already obtained his/her 18 month residence card via the IIP. R16.2 Yes, as long as the full MRVP process will be followed. All MRVP fees contemplated in LN288 of 2015 will remain in force. Q16.3 If an Applicant already holds a residence permit through another scheme but wishes to apply for the MRVP, would he still be required to submit new residence forms i.e. Form K, Form ID 1A & Form ID 2? R16.3 Yes the Applicant would be required to submit new residence application forms to MRVP. The Applicant s documentation submitted for previous permits should have no bearing on the MRVP application. 17. General questions Q17.1 Is there a compulsory minimum length of stay within one year after a Beneficiary gets his/her residence permit R17.1 No, there is no minimum length of stay requirement. MRVP FAQ V5.0 Page 21 of 24