MRVP Grows in Popularity among Chinese HNWI’s – Underscoring Increasingly Close Economic Relations.
Updated: Jun 12, 2018
The beginning of diplomatic ties
Diplomatic ties between Malta and China go back to 1972 when the Chinese government aided in the construction of the No. 6 dry-dock just opposite Malta’s Grand Harbour. This close cooperation has continued up to the present day, with Malta taking an active role in China’s grand ‘One Belt One Road’ initiative, by being one of the first European countries to sign up to the Asian Investment Development Bank.
Thus, despite significant geographic and social differences, the two countries share a mutual understanding, and the signing of an additional ‘Cooperation Plan’ in 2014 aimed at improving the bilateral cooperation in the areas of energy, infrastructure, finance and health means this closeness is likely to continue into the future.
The popularity of MRVP in China
Speaking at the MRVP Official Policy and Development Seminar in Shanghai, Parliamentary Secretary for Reforms and Citizenship, Ms. Julia Farrugia remarked how China was the country showing the most interest in the programme, with 50 families applying for residency this year alone.
During the seminar, Ms. Portelli also illustrated the opportunities Malta presents as an investment haven, with economic stability and a highly experienced workforce. Malta is located in the heart of the beautiful Mediterranean, thereby providing access to the highly lucrative EU market, and also has an excellent education and healthcare system. These factors, when considered together make it clear to see why this programme has continually appreciated in popularity, particularly within China.
About the programme
While historically speaking Malta and China do not share common-ground, the level of interest aroused in China for this programme would not have been feasible without an excellent structure programme offering. The programme is based on a strong legal framework and requires applicants to invest €250,000 in government stock, along with making a €30,000 government donation. The applicant must also purchase (or rent) a property to the value of €320,000. This unique structure has been extremely popular, illustrated by the fact that it received the largest number of enquiries out of all programmes in its first full year of operations.
While many countries around the world close their borders, Malta is a shining example of the benefits of opening up to global investment immigration.