This article has all the information you need to know about Malta citizenship by investment: the cost, the advantages, the timeframe of obtaining its passport, and the step-by-step procedure of obtaining Malta citizenship.
The official name of the programs is the Individual Investor Programme of the Republic of Malta (MIIP).
Important information about Malta citizenship by investment program
The Government of Malta sets strict quotas for granting citizenship. Only 1,800 applicants can obtain a Maltese passport.
According to the annual report on the results of Malta passport program, from July 2016 until the end of June 2017 the citizenship was granted to 1,409 investors. Apart from 386 main applicants, the passports were issued to 294 spouses, 487 minor children and 242 adult dependents.
During the preceding 12 months, only 137 investors received citizenship. This is due to the fact that for many participants of the program a one-year naturalization period required for the grant of citizenship has ended.
Since the launch of the program until June 2017, 566 applicants have been granted citizenship that is 31.4% of the quota of 1,800 applicants set by the government.
The cost of a Maltese passport
To obtain a Maltese passport an investor is required to complete these 3 steps.
Step one: Make a non-refundable donation of €650,000 to the National Development and Social Fund established by the government.
Step two: Invest €150,000 in government bonds and keep the investment for 5 years.
Step three: Purchase a real property with a market value of €350,000 or more. As an alternative, there is an option of renting a residence for at least €16,000 per year for 5 years. Please keep in mind that the purchased property can’t be rented out.
As housing prices in Malta are constantly rising, the purchased real estate can become quite a profitable investment in the future.
Apart from the obligatory investment mentioned previously, a program participant will also have to pay additional fees such as due diligence fee, passport fee and bank commission.
The total cost of obtaining Maltese citizenship will depend on the number of family members. Together with the main applicant, a spouse, dependent children under 26 and parents aged 55 or above may be included in the application. The children over 18 years of age also must be full-time students, unmarried and fully financially dependent on the main applicant.
NOTE! The amount of investment doesn’t depend on the number of applicants in the application, only the amount of additional fees increases, such as due diligence fee and passport fee.
What are the advantages of a Maltese citizenship?
- Freedom of movement. The Maltese passport is your visa-free entrance into over 167 countries, including the US, the UK, Canada, Japan, South Korea, the Schengen Area countries, among others.
NOTE! Maltese passport holders are allowed to stay in Europe and the UK without any limitations, in the US and Australia up to 90 days, in Canada within a 6-month period. The ESTA is required to visit the US, and the eTA to visit Canada.
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- Personal safety in case of emergencies in the home country. You can reside in Malta all 365 days a year.
- There is no requirement to reside in the country.
- Tax privileges.
- Prestigious European education and great opportunities for business in the UK and the EU.
- High standard of living, social and legal protection. In the list of safest countries prepared by the UN in 2016, Malta is ranked 1st. High-quality medical care.
Important note! Malta is the only country that discloses the name of investors who participated in the MIIP.
Steps of applying for a Maltese citizenship
Step 1. Legalization, notarization and translation of the documents of all applicants.
Step 2. Payment of due diligence fees and the first part of government fee in the amount of €10,000.
Step 3. Submission of the application. The application processing takes 3-4 months.
Step 4. Purchase of government bonds and real estate (or rent it), after your case has been approved.
Step 5. Visit Malta in a year to take the Oath of Allegiance and receive a certificate of naturalization.
Step 6. Payment of passport fees and submission of documents to obtain passports that are issued within a month.
In conclusion, we would like to add a couple of more facts about Malta citizenship by investment. Citizens of Chad, Libya, Somalia, Yemen, Iran, North Korea, Venezuela and Syria can’t participate in MIIP. The processing is long and complicated there. The program also has quite a high rejection rate.
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