Malta Enterprise has launched the Start-up Residence Programme which grants a residence permit to the founder/s launching a start-up venture in Malta. This Programme is intended for non-EU nationals and is specifically designed to facilitate the setting up of innovative start-ups and scale-ups in Malta whilst supporting the immigration process of their founders/co-founders, core employees and respective immediate family members. Beneficiaries of this programme need to have a tangible presence in Malta, which includes residing and paying taxes in Malta.
The Programme offers beneficiaries a number of benefits including long term business and family stability motivated to attract and retain international talent. This programme is complemented with lucrative non-dilutive support measures that are administered by Malta Enterprise.
The applicant must satisfy the following requirements to be eligible for this Programme: –
- Possess a concrete intention to develop and/or expand business in Malta;
- Is the founder or co-founder[1] of an enterprise that has been registered for not more than seven years, has not taken over the activity of another enterprise nor been formed through a merger nor distributed a dividend;
- Is a third country national from a reputable jurisdiction, excluding EU, EEA and Switzerland;
- Has reached the age of eighteen;
- Place a tangible investment and/or paid-up share capital of not less than €25,000. Where there are more than four co-founders but not more than six, each co-founder is to place an additional €10,000 share capital;
- Is in possession of a recognised health insurance for all family members;
- Is in possession of sufficient financial resources;
- Has a clean criminal record and not facing any pending criminal charges and does not pose any potential treat to national security, public policy, public health or public interest; and
- Must not have previously applied for a residence status or citizenship rejected in Malta or abroad.
On applications being approved by the Malta Enterprise and Residency Malta, the Start-up Residence Programme grants the beneficiaries a three year residence permit. Such permit may be renewed for a further five years once the Malta Enterprise confirm that the start-up is still ongoing and the founder and/or the co-founder satisfy the eligibility criteria of the Programme.
[1] A co-founder refers to the first entrepreneur to have set-up the start-up. This would also be reflected in the market cap table. In case of a dispute as to whether the individual would be a co-founder, reference will be made to the market cap table until the second year to determine that the co-founders had significant stake in the registered entity. In addition, proof as to whether the co-founder would have served as a director and/or had legal representation of the company, together with other duties related to the company might be requested
