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Startup Residence Programme

Eligibility and Requirements Further to the recent launch of the Startup Residence Programme, the following is a list of the eligibility criteria which need to be satisfied by the applicant, who is required to: have a serious intention to setup/expand business in Malta;  be the founder/co-founder of an enterprise, which has been registered for not more […]

Written By Liana Falzon

On October 17, 2022
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Eligibility and Requirements

Further to the recent launch of the Startup Residence Programme, the following is a list of the eligibility criteria which need to be satisfied by the applicant, who is required to:

  1. have a serious intention to setup/expand business in Malta; 
  2. be the founder/co-founder of an enterprise, which has been registered for not more than 7 years anywhere globally, including Malta. The eligibility criteria for such an enterprise highlight that:
    1. it cannot have taken over the activity if another enterprise;
    2. it has not yet distributed profit; and
    3. it has not been formed through a merger;
  3. be a third-country national;
  4. be 18 years and older; 
  5. place a tangible investment and/or paid-up share capital of not less than €25,000, through the incorporated Startup in Malta. €10,000 need to be placed per additional co-founder, should there be more than 4 co-founders applying for the Startup Residence Permit. NB: the maximum number of co-founders eligible for the Startup Residence Programme is 6; 
  6. provide proof of his physical and tangible presence in Malta both from a business point of view and from a personal point of view. This means that the applicants is required to be living and paying taxes in Malta; 
  7. take out a health insurance policy covering risks in Malta for himself and any other dependants;
  8. have enough financial resources to support himself and any other dependents; 
  9. have a clean criminal record and no pending criminal charges.

Eligibility is forfeited if an applicant has had applications for residency or citizenship rejected in Malta or abroad.

Additional eligibility criteria for the Startup itself

For a Startup to be eligible, it needs to provide proof and documentation that its trading activities will be carried out in one or more of the following sectors in Malta:

  • manufacturing; 
  • software development; 
  • industrial services analogous to manufacturing; 
  • health, biotechnology, pharmaceuticals and life sciences; 
  • eco startups involved in the blue, green and sustainable industries; 
  • other innovative economic activities

Business projects must meet at least two of the following criteria for them to be eligible for this programme: 

  • propose products and/or services that have the potential to generate income from various geographical markets; 
  • produce products and/or services which are new, innovative or substantially improved compared to what would be already on the market; 
  • utilise processes which are new or substantially improved compared to those adopted in current complementary activities.

Fees

The fees to apply for the Malta Startup Residence Programme are as follows: 

  1. €750, payable to Residency Malta Agency, for each adult applicant/dependant for a 3-year Startup Residence Programme; and
  2. €82.50, payable to Identity Malta Agency, for the issuance of the residence card, for each individual applicant covering a 3-year permit.

For a tailor-made quote and/or more detailed information about this programme, we invite you to send an email to Liana Falzon on [email protected] who is the manager in charge of the firm’s private clients section.

StartUp Residence Programme

How can we help?  

 

For further information, please contact us on [email protected]. ACT can help you understand the changes to the income tax, accounting, corporate and VAT rules and how these can impact your business.   

 

Apart from its offices in St. Julian’s Malta, ACT operates from a second office in Gozo, which is situated in the capital city of Victoria.  For an appointment in our Gozo office, please call on +356 21378672 or send us an email on [email protected]. 

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Disclaimer: This article contains general information only and is not intended to address the circumstances of any particular individual or entity. ACT, by means of this article is not rendering any accounting, business, financial, investment, legal, tax, or other professional advice or service. This article is not a substitute for such professional advice, nor should it be used as a basis for any decision or action that may affect your finances or your business. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. Before making any decisions or before taking any action that may affect your finances or your business, you should consult a qualified professional adviser. ACT shall not be responsible for any loss whatsoever sustained by any person who relies on this article.  

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