Malta’s residency programmes generate €132 million for economy in 2024

The Residency Malta Agency, which facilitates investment-based and remote work residence permits for foreign nationals in Malta, generated €132 million for the local economy in 2024, according to Home Affairs Minister Byron Camilleri.

Responding to a parliamentary question from MP Beppe Fenech Adami, Dr Camilleri tabled figures regarding foreign nationals in Malta.  

In 2024, the number of foreign nationals residing in Malta stabilised, with fewer new residence permits being issued, he said, reflecting Government policies, including reforms to temporary employment agencies and new regulations affecting the food delivery and taxi industries.

Despite a decline in new applications, Malta saw a high retention rate of foreign workers, with many residence permits being renewed. In recent weeks, the Government launched a public consultation on the Malta Labour Migration Policy, which seeks to strengthen control over migration, improve retention, and introduce measures to combat worker exploitation.

Residence permit statistics for 2024

• 668 residence permits were issued to non-EU nationals by Identity Malta.
• 4,073 new residence permits were granted under the Malta Permanent Residence Programme (MPRP), the Malta Residency and Visa Programme (MRVP), and the Nomad Residence Permit scheme.
• The MPRP alone generated €46 million in consolidated funds, €50 million in five-year lease contracts, and €36 million in property purchases.
• The Nomad Residence Permit scheme received 1,031 applications, with digital nomads in Malta earning an average annual salary of €76,000. Their estimated contribution to the local economy in 2024 was €5 million.

EU nationals and residence trends

Unlike third-country nationals, EU, EEA, and Swiss citizens are not required to obtain residence permits to live in Malta. Instead, they receive a Certificate of Registration if they plan to stay for more than three months. However, these certificates are not necessarily cancelled when individuals leave Malta, meaning official figures may overestimate the actual number of EU citizens residing in the country.

In 2024:

• 5,811 new residence documents were issued to EU citizens.
• 6,662 EU residence documents were revoked.
• 4,310 EU residence documents were renewed.

Meanwhile, the net number of valid residence permits for EU, EEA, and Swiss nationals decreased by 2,227 in 2024.

One of the key proposals in the Malta Labour Migration Policy is that all job vacancies must first be advertised on Jobsplus for Maltese job seekers and on the EURES portal for EU citizens before being opened to third-country nationals.

Overall, preliminary data from Identity Malta suggests that in 2024:

• 33,455 first-time residence permits were issued to third-country nationals.
• 25,433 permits expired or were revoked.
• 52,661 permits were renewed.

These figures exclude permit type changes and those with multi-year validity. The Government expects these numbers to be updated in the coming months as more information becomes available.