You know how they say that the best things come in small packages?

Well, with every passing day, the Maltese islands are living, breathing proof of that idiom. Despite spanning just over 300 square-kilometres, Malta happily offers visitors anything from ancient history and pristine architecture to unique traditions and tasty cuisine.

Having said that, the latest addition to the islands’ long list of benefits is a relatively new-found desire to nurture and support budding enterprises – be they local or international.

Testament to this is one of Malta’s latest initiatives, the Startup Residency Programme.

Spearheaded by governmental agency Malta Enterprise and in collaboration with Residency Malta Agency, the Startup Residency Programme was launched in October 2022 and is seeking to highlight the islands’ ambition to become a quality start-up jurisdiction. The initiative is working on doing so by attracting international, non-EU founders, key employees, and their families to the Maltese islands and thus, nurture highly innovative start-ups and scale-ups.

There’s a lot to go through with regards to how the Startup Residency Programme helps its beneficiaries, but for now, let’s take a glance at why the islands are rapidly becoming a hub for local and international start-ups alike.

For starters, Malta is a full member of the EU (and has been so since 2004) and thus, holds the Euro as its official currency.

With a population of just over 500,000, more than a quarter of those working in Malta are expats – meaning that there is certainly no shortage of diversity in the workforce.

Having said that, it’s the government’s (and its agency’s) efforts that have helped translate this favourable situation into a nurturing environment for start-ups.

The government has remained dedicated in honing the talents of local and international start-ups and has adopted an open approach towards welcoming them on the islands. It’s because of such efforts that Malta is nowadays already home to many highly innovative start-ups.

The Startup Residency Programme is a prime example of all this and will only serve to further increase Malta’s competitiveness in this field.

Now, back to the programme’s details.

The Startup Residency Programme’s benefits extend to non-EU founders, their key employees, as well as their respective families.

Non-EU founders accepted into the programme are granted a Malta residency permit for three years, which is renewable for a further five. During said period, beneficiaries can reside in Malta whilst diligently launching their start-up venture.

Similarly, non-EU key employees and their families are granted a residency permit for three years which can be renewed for a further three years.

It is through benefits as such that the Startup Residency Programme seeks to facilitate the setting up of innovative start-ups and scale-ups in Malta – all whilst supporting the immigration process of the relevant human capital.

But wait, there’s more! The Startup Residency Programme is driven to offer its beneficiaries long-term business and family stability, as well as enhanced attractiveness to bring about and retain international talent.

The programme is also complemented by lucrative, non-dilutive support measures administered by Malta Enterprise – the agency which acts as the main contact point for start-ups and scale-ups that are looking to set-up innovative operations in Malta.

Thinking of applying for the Startup Residency Programme?

Here are just a few things we think you should keep in mind:

• The programme’s beneficiaries are required to have a tangible presence in Malta (i.e. they need to both live and pay taxes locally).
• The programme is rigorous and abides by strict approval criteria.
• Applicants are required to present a minimum paid-up share capital or investment of €25,000.

For more information about the Startup Residency Programme, click here.