Important Updates On The Nomad Residence Permit

Yesterday, Residency Malta Agency, the Government agency responsible for managing the Nomad Residence Permit in Malta issued two important policy changes that are coming into effect shortly.

Increase in minimum annual gross income requirement

With effect from 1^st April 2024, new Nomad Residence Permit application will have to show proof of a minimum gross annual income of €42,000, instead of the existing €32,400. It's important to note that this adjustment does not affect current beneficiaries applying for a renewal, who will retain the same income conditions under which they applied originally. Also, this adjustment does not affect applicants who have submitted their applications before 1^st April 2024 and whose application is still in process.