Moving to Malta: Startup Residence Scheme For Third-Country Entrepreneurs

Moving to Malta: Startup Residence Scheme For Third-Country Entrepreneurs

The government of Malta launched a program to attract non-EU entrepreneurs and enable innovation, create job opportunities, and support Malta’s growing economy. Eligible applicants will acquire residency in the country through the new Startup Residence Scheme.

The scheme will grant a three-year residence permit to founders, as well as co-founders and core employees of start-ups together with their immediate family members.

Those who avail of the scheme will have access to the Maltese market as a platform for European and International expansion.

The scheme can be extended for a further five years by founders as well as co-founders and for three years by all core employees, subject to certain conditions including that the business should be in operation. 

Who Are Eligible for Malta's Startup Residence Scheme

To avail of the scheme, the basic eligibility criteria is that internationals are required to make an investment of at least €25,000 (approximately $30,901) in a paid-up share capital or tangible investment.

The startup should be in the early stages of development and demonstrate potential for growth and job creation. 

The scheme is open to third-country nationals, excluding those from (or have close ties with) Afghanistan, North Korea, Iran, the Democratic Republic of Congo, Somalia, South Sudan, Sudan, Syria, Yemen, and Venezuela.

Applicants should also provide proof they can support themselves and their dependents without relying on social assistance in Malta.

To be eligible for an extension, applicants should have a physical and tangible presence in Malta as beneficiaries must be able to show that they spend more than 183 cumulative days in Malta during a period of 365 days.

Application Process

Before applying for the program, third-country nationals must secure a licence to enter and reside in Malta. Applicants must then fill out the form, providing details about their personal information, startup, and funding.

Interested applicants must submit several documents, including a valid passport, proof of financial self-sufficiency, and a comprehensive business plan outlining their startup’s potential for growth and innovation. The processing time varies but it typically takes three months. Successful applicants will receive a residence permit and can then proceed with establishing their startup in Malta.

What are your thoughts on this issue? Talk to us in the comment section below. Or if you need more advice on the above, contact us for further travel & immigration advice.

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