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VISA FREE COUNTRIES

166

POPULATION

423,282

GDP

22,780


LOCATION

Southern Europe

CAPITAL

Valletta

LANGUAGE

English, Maltese

RELIGION

Catholic

GOVERNMENT TYPE

Parliamentary Republic

CURRENCY

Euro (EUR)


RELATED DOCUMENT

Program Brochure

 


Malta
 


Overview
 


Malta Citizenship Scheme is aimed at ultra-high net worth individuals. Individual investors must make a minimum contribution of €650,000 to the national development fund set up by the government, invest €150,000 in government approved financial instruments  and commit to a residence in Malta for a minimum of 5 years.

The property value for purchased real estate needs to be a minimum €350,000. Each family member also has to contribute a sum to the development fund of €25,000 each. The benefits after one years’ residency are citizenship and a Maltese second passport. This in turn grants European citizenship and the ability to live, work and study anywhere in the EU.
 


Key Facts

 

 
There is no doubting the significant benefits of the Malta Individual Investor Programme. However this is for very high net worth clients and investors and their family will need to invest typically €1.2 million upwards to obtain citizenship.

 

Advantages

 

The island’s legislative and regulatory systems provide a solid, yet flexible framework for business. Its economy is based mainly on foreign trade, manufacturing, tourism, finance and technology, and it has seen a steady recovery since 2009. Malta’s financial sector has grown as well, and since most of its banks have domestic debt, they have been largely untouched by the debt from periphery countries in the Eurozone. It also has one of the lowest unemployment rates in Europe. 


Malta not only offers excellent infrastructure for business, but also has favorable tax rates for corporations and individuals. Individuals who are residents and domiciled in Malta are taxed on their worldwide income. However, resident individuals who are residents or domiciled in Malta are only taxed on their Maltese sourced income. Individuals are taxed at progressive rates up to 35%.


Given that living costs in Malta are lower than other countries in central Europe, expatriates can benefit from low cost international schools. In addition, its climate makes it an attractive location. The country also provides publicly funded healthcare for all individuals, as well as a private health system. Its health system is ranked fifth by the World Health Organization.


Benefits can be summarized as follows:

 

 

Financial Requirements

 

The combined upfront financial requirement, including applicable government charges and citizenship application fees, is just under EUR 900,000. These costs will increase slightly depending on the family size.
 
The Malta program includes three financial requirements:

 

 
Let take an example


For Single Applicant: 

 

€650,000 donation
€150,000 stocks/bonds
€16,000 p.a. property rental    
Gov. and processing fees 12-15%

 

€650,000 donation
€150,000 stocks/bonds
€350,000 property purchase    
Gov. and processing fees 9-12%
 
For Married Couple:

€650,000 donation
€150,000 stocks/bonds
€16,000 p.a. property rental    
Gov. and processing fees 12-15%

€650,000 donation
€150,000 stocks/bonds
€350,000 property purchase    
Gov. and processing fees 9-12%
 


Procedures
 


Here below you will find the different steps of the Malta procedure, each step needs to be completed before starting the next one.
 
1 - Documents received

2 - Documentation pack (fully prepared for you) is received by Identity Malta and checked for completeness.

3 - AOR issued
If and when complete, a client reference number is allocated (to be used in all future correspondence and payments) and an acknowledgement of receipt (AOR) is issued.
 
4 - Diligence fees
An invoice is issued by the Authority for the payable due diligence fees. At this point a non-refundable contribution amounting to €10,000 should to be paid.
 
5 - Application processing
The application is processed and due diligence checks are undertaken within a 4 month period.
 
6 - Approval
A letter of Approval in Principle issued (your application has been accepted in general).
 
7 - Invoice
The invoice for the outstanding balance of the 650.000 EUR contribution is issued. This must be paid within 25 days from the date of the letter of approval in principle.
 
8 - Proof of investment
Within 4 months from the date of the letter of approval in principle, the clients must prove that they take care of the programme requirements as outlined hereunder:
a. Purchase of property (minimum value 350'000 EUR) or lease of property (minimum 16'000 EUR per year, to be held for a minimum of 5 years);
b. €150,000 investment in Malta (as defined by Identity Malta);
c. Global health insurance is held for all applicants.

9 - Twelve Month Residency
After 12 months residency has been achieved and provided all other requirements have been met (including the swearing of the Oath of Allegiance), a Certificate of Naturalization will be issued. We will be able to advise the client on how to satisfy the 12 month residency requirement.
 
10 - Passport Issuance
The passport application can then be submitted, fees are to be paid and the passport will be issued.
 


Comparing Citizenship Programs

 

Malta is not the only country offering citizenship through investment. Cyprus is the most popular programme in Europe as a second passport can be gained in just 3-4 months through real estate investment. Bulgaria also offers citizenship through investment in bonds and citizenship in Portugal is possible through real estate after six years. For visa free travel there are also several programmes in the Caribbean including St. Kitts, Antigua and Dominica.

 

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Program brochure for Malta
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