Some 50 Chinese families have applied to join the Malta Residency and Visa Programme (MRVP) and will thus be investing in Malta, Parliamentary Secretary Julia Farrugia Portelli said during a visit to Shanghai on Monday.
The programme is run by the Malta Residency and Visa Agency and requires applicants to buy or rent a property in Malta, buy at least €250,000 in government stock and have an income of at least €100,000 per annum.
The programme was set up two years ago and 140 applications have been approved, of whom 80 per cent were from China.
The parliamentary secretary addressed a conference hosted by the Shanghai Overseas Exit Entry, which two years ago was commissioned to promote Malta's programme in China.
The CEO of Shanghai Overseas Exit Entry, Kevin Ma, said his company over the past two years spent €6 million in promoting Malta.
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