Following the Spring Festival 2018 MRVP Official Policy and Development Seminar in Shanghai, China, attended by the Parliamentary Secretary for Reforms, Citizenship and Simplification of Administrative Processes Julia Farrugia Portelli, some 50 families have applied through the Malta Residency and Visa Programme (MRVP) to acquire residency rights by investment.
The MRVP is Malta’s residency by investment programme whereby the main applicant must have an annual income of not less than €100,000, and must also acquire or rent a property besides investing €250,000 in Government stock.
Since the programme’s launch 2 years ago, there have been 140 successful applications, 80% of which were from China.
The seminar, which was organised by Shanghai Overseas Exit Entry–the programme’s official concessionaire in China, Hong Kong and Makau–attracted more than 200 investors and Malta was portrayed as the ideal resettlement and investment destination.
During her address, Parliamentary Secretary Julia Farrugia Portelli applauded the excellent relations between the People’s Republic of China and Malta, which date back to 1972, and maintained that the Maltese Government intends to further solidify said amicable relations.
The Parliamentary Secretary held that Malta is not just the optimal resettlement solution, but is also a safe and trustworthy investment haven, a magnet for innovative projects.
Prior to her address, Julia Farrugia Portelli visited the concessionaire’s office, which employs more than 200 persons.
CEO of Shanghai Overseas Exit Entry Kevin Mao claimed that €6 million were spent over the past 24 months to promote Malta, adding that all efforts are being channelled to attract high-end investors to the country.
CEO of Malta Residency and Visa Agency Rodrick Cutajar acknowledged the concessionaire’s sterling job in providing error-free applications, with the vast majority satisfying international due-diligence requisites.
Malta’s Ambassador to the People’s Republic of China John Aquilina and the Consulate General for Shanghai Aldo Cutajar were both present.