Minister for the Environment, Energy and Enterprise Miriam Dalli and Minister for Home Affairs, Security, Reforms and Equality Byron Camilleri announced a residency programme for foreign start-ups to continue attracting high-talent start-ups, whilst serving global customers. This was announced during the second edition of the Start-up Festival.
The new Start-ups Residence Programme will be offering a residence permit for international start-ups to relocate in Malta. This residency programme is offering a 3-year residency permit which can be extended by another 5 years to founders, co-founders of start-ups, and their families. Core employees can also benefit from a 3-year residency permit which can be extended by another 3 years. This also applies to core employees’ family members.
The Start-up Residency Programme is another process in favour of the start-up ecosystem in our country led by Malta Enterprise.
Minister Miriam Dalli said that, “Together with Malta Enterprise, we are working to give the necessary support to attract more start-ups to Malta. We want to see more start-ups in Malta. We want to see more start-ups that relocate, invest and are successful in our country. Through the start-up residency programme, our country will be ensuring that it remains competitive for innovative start-ups and therefore we will be able to benefit both on an economic level as well as when it comes to new talent and new technologies.”
Minister Byron Camilleri said that, “We already have strong ecosystems and policies that promote diversification, specialisation and innovation. These include government services, funding, and community-based support. Malta is an ideal test base for new products being of small size yet fully developed. Also, the fact that English is a national language is also a huge benefit for prospective entrepreneurs. Hence, we have two public sector entities, Residency Malta and Malta Enterprise, which are working in synch to promote new innovative businesses from various countries.”
Malta Enterprise CEO Kurt Farrugia explained that, “This process will be led jointly between Residency Malta and Malta Enterprise, where start-ups will benefit from financial assistance from Malta Enterprise to qualify for residency. This means that these start-ups will be going through a rigorous due diligence process, just like any other company which needs assistance from Malta Enterprise.”
Residency Malta CEO Charles Mizzi said that, “With this programme, the main founders of an international start-up can apply to obtain residence in our country for three years, together with their immediate family. The three years can be renewed for another five years, which in particular circumstances can be discontinued.”
More information about the second edition of Start-up Festival:
The Start-up Festival is being organised by Malta Enterprise between 13th and 14th October at Villa Bighi, Kalkara. The festival includes several opportunities, such as start-up participation and technological experiences like virtual and augmented reality.
For the first time ever, participants have the opportunity to present their ideas to local and foreign investors, through dedicated matchmaking sessions between the participants and foreign investors, via Dealroom international platform.
During this festival, several discussions and sessions will be held by international people, including Caspar Lee, Vera Mulyani and Bobby Johnson. These sessions include information on how to grow from start-up to scale-up, using technology mixed with spatial communications and about entrepreneurship.
Source: Office of the Prime Minister