Malta is an EU country that attracts foreigners with a growing economy, a safe political environment, and its citizenship program.
Malta citizenship by investment is a program that enables foreign investors to get EU citizenship. Its name has been recently changed to Malta Citizenship by Naturalization for Exceptional Services.
After you reside in Malta for 12 months, you’re eligible to apply for the program. After your application is approved, you can work and reside in the country.
Let’s get you introduced to the program in more detail to inform you about how to get citizenship in Malta.
About The Program
The aim of the Maltese citizenship program is to attract foreign investment and business people into the country.
After you make a qualifying investment in the country, you’re approved when all documentation and due diligence is complete. Then, you and your family can work, live, and study in the EU.
Compared to other similar programs, citizenship by investment in Malta provides a faster route to getting European citizenship.
Let’s now look into the details of investment options.
The first step of investing in the citizenship of Malta is through contribution to the National Development and Social Fund. The minimum required amount changes depending on the duration you stayed in Malta.
For instance, if you stayed in Malta for 36 months, you’ll invest at least €600,000. If you stayed here for 12 months, you’ll invest a minimum amount of €750,000. Once you complete this investment, you’ll donate €10,000 to an organization approved by the Community Malta Agency.
In addition to the abovementioned investments, you’ll make one more investment for the Malta passport. You can choose one of the options below:
- Buying a property that is worth at least €700,000 in Malta. Also, you need to hold the property for a minimum of five years.
- Alternatively, you can lease a residence for five years. The rent amount must be €16,000 per year.
There’s also an additional amount to invest for each dependent family member. The amount is €50,000 for each person.
Advantages of Malta Citizenship Investment
You can benefit from Malta citizenship by investing in many ways. For instance, you can bring your family to Malta with you. Your dependent family members will obtain the right to study, live, and work in Malta or another EU country.
This means that your kids can attend public schools and universities in Malta. In addition to all these, Malta provides your family with a safe and free environment. Freedom of speech is an important factor that attracts foreigners, for instance.
Another attractive feature of citizenship by investment Malta is that there’s no compulsory language test to pass. It’s a very favorable quality of the program since other countries require such a test for naturalization.
When you become a Maltese citizen, you’re exempt from some taxes including:
- Estate duty,
- Inheritance or death,
- Municipal and real estate taxes, and
- Wealth taxes.
Also, Malta has double taxation treaties with almost 60 countries. This enables you to be exempt from double taxation on your foreign income when you’re in Malta.
Getting a Maltese passport means that you can travel to 186 countries without any visa requirement. Malta passport visa-free countries include the USA and Canada as well.
How To Become Eligible for Malta Citizenship by Investment
You need to satisfy the following requirements to apply for the program. These are:
- Being at least 18 years of age,
- Completing the required investments mentioned above,
- Having a valid residence card to be able to apply for citizenship,
- Being in good health along with your family members, and
- Proof of due diligence.
An Alternative Route: Malta Residency by Investment
Besides Malta citizenship by investment, there’s a residency by investment offered by Malta as well. It enables you to be a permanent Maltese resident. Compared to Malta citizenship investment, this program requires fewer investment amounts. Under this program, you can renew your residency every five years.
It allows you to include your parents, spouse, and dependent children. In addition, visa-free travel to the Schengen area is available under this program.
In short, Malta’s citizenship by investment program welcomes individuals from all around the world to come and stay here. It’s a great opportunity if you wish to obtain a second citizenship. If this article has interested you, go ahead and apply today!