Malta Citizenship By Investment
Introduced at the beginning of 2014, the Malta Individual Investor Program (IIP)offers high and ultra-high net worth individuals and family’s worldwide citizenship in a highly respected EU Member Country. Malta has been a member of the European Union since 2004, enjoys a stable political climate, bi-partisan political scene, growing economy, and has some of the soundest banks in the world.
The Malta IIP is the first investment citizenship program of its kind to be recognized by the European Commission, and the executive body of the European Union has formally acknowledged the legality of the program paving the way for its success. The Malta citizenship by investment application process is extremely efficient, and the government of Malta is committed to the highest standard of due diligence and vetting of investor applicants ensuring only persons of impeccable standing and repute will be admitted.
Successful candidates will be granted citizenship in Malta by a Certificate of Naturalization, which can also be extended to include their families. Once a candidate is awarded Malta citizenship, which provides for EU citizenship, they have the right of establishment in all 28 EU countries and Switzerland. They also can set up business in Malta and can get a Malta passport, enabling them to enjoy visa-free travel to more than 160 countries across the world, including the United States.
UPDATE: As of 2019, the Individual Investor Program has received more than 1000 Malta passport applications on behalf of investors from more than 40 different countries. As of this date, the IIP Malta is still accepting new applications.
ELIGIBILITY FOR INDIVIDUAL INVESTOR PROGRAM MALTA
An amendment passed in 2013 to Chapter 188 of the Maltese Citizenship Act, as well as the enactment of Legal Notice LN47 in 2014, legally grants eligible persons EU citizenship by investment via the Malta Individual Investor Program. To be considered eligible for the Malta citizenship scheme, the principal applicant must be at least 18 years of age and must meet all the Malta immigration requirements outlined below.
FIT AND PROPER TEST
The Malta citizenship by investment program has some of the strictest due diligence standards of any immigrant investor program in the world to ensure only deserving and reputable applicants are granted Maltese citizenship. As part of the Malta Individual Investor Program, there is a four-tier due diligence process carried out directly by the government to assess candidates comprehensively. Applicants must have a clean criminal record, and the Malta government conducts extensive criminal checks with INTERPOL, the International Criminal Court, and various other sources and authorities. As part of the due diligence process, applicants must also provide a police certificate before they are approved for European citizenship.
To be admitted into the citizenship by investment program Malta, applicants must show that they do not suffer from any contagious diseases. An international health insurance policy must also cover all applicants.
All individuals and families applying to the Malta Individual Investor Program must make a significant non-refundable contribution to the National Development and Social Fund set up by the Government of Malta and run by a board of trustees. The fund, which is on the same level as the central bank, finances projects in the country linked to public health, education, job creation, social improvement, and innovation. The following contributions must be made within four months of being issued a Malta IIP Letter of Approval in Principle: Main applicant - €650,000 Spouse - €25,000 Minor children - €25,000 each Children 18-26 (unmarried) - €50,000 each Dependent parents & grandparents - €50,000 each Adult children (physically or mentally challenged) - €50,000 each
REAL ESTATE PURCHASE OR RENTAL
Applicants must commit to retaining an immovable residence in Malta for a minimum period of five years. This can be done by either buying a property in Malta for at least €350,000 and maintaining ownership for 5+ years, or by leasing property for five years or more with a minimum annual rent of €16,000. Applicants must provide evidence of owning or leasing a property on the islands within four months of receiving a citizenship Malta Letter of Approval in Principle.
Before a person can be admitted for Maltese citizenship by investment, applicants are required to invest at least €150,000 in government approved financial instruments (bonds, stocks, and debentures that benefit the nation) and must commit to keeping the investment for at least five years.
Upon purchasing real estate or entering a property lease in Malta, investor citizenship candidates are issued a Malta identity document called an eResidence card. This signifies the commencement of their residency in Malta and also demonstrates the candidate's genuine link with the country. Twelve months after an applicant has established residency in Malta, applicants who have maintained a residence in the country will be granted citizenship. You do not need to spend all 365 days in Malta before citizenship is granted, Maltese law defines residence as "an intention to reside in Malta for any fiscal year, usually evidenced by a stay of a minimum of 183 days or by the purchase/rental of property together with a visit to Malta." Consequently, upon purchasing or leasing an apartment or villa in the Mediterranean island nation and procuring a Malta residence card, applicants are not required to spend any time in Europe. Candidates who have been a resident of the country for at least one year before I.I.P. approval already satisfy this residency requirement and can subsequently become a citizen of Malta much faster.
MALTA CITIZENSHIP SCHEME APPLICATION TIMELINE
Malta Residency: Potential candidates who are not already resident in the country are strongly advised to begin the Malta residency process immediately since the Individual Investor Program has a 12-month residency requirement. To be granted citizenship in Malta as fast as possible, it is essential that the clock is ticking on an applicant's residency requirement while they progress through the Malta citizenship application process. Upon initiation of a nominee's residency in Malta, a small deposit of €5,000 for the primary applicant and €1,000 for each family member is due on account of the National Development and Social Fund contribution.
A Malta Individual Investor Program application is formally submitted to Identity Malta by an Accredited Person. The application will contain necessary supporting documents, and evidence of source of funds must also be presented at this stage. The following fees are now due:
Due Diligence Fees Principal applicant - €7,500 Spouse - €5,000 Minor dependents (aged 0-12) - no fee Minor dependents (aged 13-17) - €3,000 each Adult dependents - €5,000 each
Malta Passport Fees All candidates - €500 each
Bank Charges Per application - €200
A total deposit of €10,000 is now due towards the monetary contribution. Any deposit made when applying for Maltese residency counts towards this amount.
Identity Malta will notify the concessionaire or Accredited Person within five business days of submission to confirm whether the client's application has been accepted for review or requires additional paperwork.
Confirmation from Identity Malta that the application and supporting documentation are formally in order. The candidate is subject to a further 30 days of additional verification by the Government of Malta's regulatory body.
Applicant is approved in principle. This signifies official Malta IIP approval conditional only on the candidate fulfilling all their remaining obligations under the Maltese nationality program for investors.
Identity Malta sends the applicant a formal request for payment of the remaining balance of National Development and Social Fund contribution. The candidate has 20 days to pay the full amount.
Maltese IIP financial contribution deadline. The entire National Development and Social Fund contribution must be made by this time.
Final citizenship by investment Malta compliance. Applicant must provide evidence of €150,000 bonds investment as well as a Malta real estate purchase or rental.
Issuance of Naturalisation Certificate: Once an applicant has fulfilled all their obligations under the Malta Individual Investor Program and taken an Oath of Allegiance, they will be issued a Certificate of Naturalisation and given a Malta Passport.
If you are interested in learning more about Malta citizenship by investment program, please contact our team for a confidential consultation.
TAX CONSEQUENCES OF CITIZENSHIP IN MALTA
Obtaining European citizenship by investment through the Malta investor program does not have any tax consequences! Even if an individual moves their primary residence to Malta, they can retain the status of a "non-domiciled" person and therefore have an extremely advantageous tax exposure. Candidates that become a resident of Malta but are not domiciled in the country are only required to pay tax on any income they earn or receive in the country. Malta has no municipal taxes, no estate duty, no death or inheritance taxes, and no wealth or net worth taxes. Malta also has double taxation treaties with approximately 60 countries around the world. The corporate tax rate in Malta is 35%, but individual tax concessions apply to non-resident or non-domiciled company owners.
DUAL CITIZENSHIP MALTA
Individuals that obtain a second Citizenship by investment are not required by Maltese law to renounce their existing citizenship. Malta has no restrictions on holding dual nationality, in fact, the nation's Citizenship Act provides explicitly that Malta dual citizenship is permitted, but your current country of citizenship may have restrictions that prohibit you from possessing a Malta second passport.
WILL MY FUTURE CHILDREN/GRANDCHILDREN BE EUROPEAN CITIZENS?
Any child born to a parent who is a Maltese citizen will also be a citizen of Malta. This means children born to men or women who obtained Maltese nationality via the Individual Investor Program will be full European citizens even if their place of birth is not in Europe. Consequently, if your family participates in the Malta investor program, then when your children grow up and have families of their own, your grandchildren will also have EU passports. Participating in the Maltese citizenship program will gift future generations of your family with increased political and economic freedom, as well as significantly increased educational opportunities in the West. Many investors cite “family legacy” and “providing a better life for children and grandchildren” as senior influences in their decision to sponsor their family for second citizenship in Malta.
IS MALTA INVESTMENT CITIZENSHIP PERMANENT?
A Certificate of Naturalisation grants Malta citizenship through investment, and once you obtain EU citizenship via the Malta Individual Investor Program, you will have it forever and can even pass it on to future generations.
HOW FAST CAN I OBTAIN SECOND CITIZENSHIP?
If you have not already procured Maltese residency, the minimum amount of time needed to gain Europe citizenship by investment is 12 months. If you have already met the Malta residency requirement of the Individual Investor Program, you can secure citizenship in Malta in as little as six months.
WHERE IS THE MALTA PASSPORT OFFICE LOCATED?
Since 2008, the Maltese Passport Office has issued biometric passports according to EU and international standards. To obtain citizenship and a European passport through the Individual Investor Program Malta, candidates must give the country their biometric information such as fingerprints. This involves visiting one of the country's international embassies in person or traveling to the country and going to the Maltese Passport Office located in the Evans Building on Merchant Street in downtown Valletta.
MALTESE CITIZENSHIP FOR INVESTORS WITH FINANCIAL ASSETS DENOMINATED IN U.S. DOLLARS
Now is a great time to participate in the Malta citizenship by investment program if you are holding a significant amount of U.S. dollar-denominated assets. When the Malta economic citizenship program was first announced in early 2014, the euro was significantly stronger than the American dollar. At this time, the EUR 650,000 minimum contribution amount was equivalent to almost $900,000. As of 2019, however, the American dollar has strengthened compared to the euro, and the required donation of EUR 650,000 is presently closer to $ 750,000. Consequently, the Malta second citizenship program is currently more affordable for investors holding much of their wealth in assets that are denominated in U.S. dollars.
HAS THE MALTA CITIZENSHIP PROGRAM BEEN CANCELED?
No. The Maltese Individual Investor Program has not been canceled and is still accepting new applications from reputable investors across the world. If Maltese economic citizenship interests you, we encourage you to act quickly since the opportunity will not be around forever.
SHOULD I BUY OR RENT AN APARTMENT IN MALTA?
Malta citizenship by investment program applicants has two options on how to meet the program's residency requirement. The first option is to purchase an apartment on the islands for a minimum price of €350,000. The second option is to rent or lease an apartment on the island for a minimum annual rent of €16,000. There are pros and cons to both choices.
BUYING A MALTA PROPERTY
By far, the most significant benefit to purchasing a property in Malta is that the investment is not a sunk cost and can be recovered after the five-year commitment has been met. The Maltese economy is growing by more than 3% per year, and the tiny size of the islands means that land is in minimal supply. With an extremely healthy banking system and substantial immigration numbers, likely, applicants who purchase real estate to meet the Malta IIP's residency requirement will turn a profit on the home when they finally go to sell 5+ years later. The biggest downside to making a Malta real estate purchase is that it increases the total investment required to participate in the program. Depending on your current business situation, the opportunity cost of this money could negate any appreciation of the property's value. It can also be challenging to get a mortgage on a property in Malta as a foreign buyer, so the purchase may have to be made with cash or financed in your home country.
RENTING A MALTA APARTMENT
The top reason to satisfy the Malta citizenship by investment program's residency requirement by leasing a property on the islands instead of buying one is that it requires a lot less money. The minimum monthly rent required for the Malta citizenship scheme is only €1333, and even if you paid for all five years upfront, the total commitment would only be €80,000 which is a fraction of the amount required to purchase real estate. Renting an apartment in Malta is also quick and easy; there is much less paperwork involved compared to buying a residence, and you do not need to be as meticulous when selecting a home since you will not own it (many investors lease an apartment sight unseen). The biggest downside to renting a house instead of buying one is that all the money you spend on rent is a sunk cost, and you will not be able to recover any of these funds. Paying rent is an expense, but purchasing a property in an active real estate market such as Malta is an investment. This being said, the reason you are paying this rent is to obtain an EU passport so in the end even though it is a sunk cost that cannot be recovered it is still an excellent investment.
IS THERE A LANGUAGE REQUIREMENT?
There are no citizenship tests included in the Malta investment program, and applicants are not required to know Maltese or even English to be accepted into the financial citizenship program.
People who acquire Maltese citizenship via the Individual Investor Program can vote in political elections provided they have been resident in the country for 6 of the past 18 months.
CAN MY MALTA PASSPORT BE REVOKED?
European citizenship granted under the Malta Individual Investor Program can be revoked if an applicant does not follow through with all the requirements of the citizenship by investment program. To be granted citizenship, applicants commit to retaining a residence in Malta for five years and keeping their Maltese bonds investment for a minimum of five years. If a person does not comply with these requirements and stops renting an apartment or sells their home in Malta before the five years is up, they can have their citizenship as well as their EU passport was taken away.
Malta is a tiny island country in the very middle of the Mediterranean Sea that is an immensely popular tourist destination thanks to its beautiful architecture, many historical monuments, and fantastic weather. Despite only having a current population of 423,500 the islands have been inhabited for more than 7000 years and were home to one of the most sophisticated civilizations on Earth. Today there are 7 UNESCO World Heritage sites on the islands, and people travel from all across the world to visit the country making tourism one of the largest economic sectors in Malta accounting for 15% of the nation's GDP.
Malta became a full member of the European Union in 2004. EU freedom of movement treaties permit Maltese citizens to live, work, and study in any other European Union country, including Switzerland. This means that people with Malta passports are allowed to move to Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland and the United Kingdom (UK).
Malta has been a member of the Schengen Area of Europe since 2007. This allows a Maltese citizen to travel to 26 European countries without going through any border control. Countries that make up the borderless area include EU members Austria, Belgium, Czech Republic, Denmark, England (Great Britain), Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Netherlands, Poland, Portugal, Slovakia, Slovenia, Spain, and Sweden, as well as the four European Free Trade Association (EFTA) member states of Iceland, Liechtenstein, Norway, and Switzerland. Individuals that hold a passport from any Schengen Area country can visit any other country in the borderless area without the inconvenience of a border check.
DOES MALTA'S CITIZENSHIP PROGRAM ACCEPT BITCOINS?
The Maltese citizenship by investment program does not recognize Bitcoin or another crypto as legal investment currency for financial transactions related to their immigration program, and consequently, you cannot use Bitcoins to make the Individual Investor Program's compulsory investments.
HOW TO GET MALTA CITIZENSHIP
Many people interested in European citizenship by investment research the subject online, determine they are a good fit for the Malta Individual Investor Program, but then are unsure how to apply for Maltese citizenship through investment. Applying for Maltese citizenship on your own is not possible. Under the requirements of the Malta IIP or MIIP, a prospective applicant is obliged to use a concessionaire or Accredited Agent to get the application process started. This means the ONLY way to apply for the Malta citizenship program is through an Accredited Person, so contacting one of these exclusively certified individuals to learn more about the program is the best way to initiate the Maltese citizenship application procedure.
All Malta citizenship scheme applicants, except children under six years old, must at some point visit in person a Maltese embassy or the Malta Passport Office in Valletta to give their biometrics. Biometrics include facial features as well as the scanning of fingerprints for applicants aged 12 and above. Biometric data that is provided as part of the Malta citizenship by investment application process can be stored for as long as six months.
OATH OF ALLEGIANCE
All Malta immigration applicants that are at least 18 years old are required to take an Oath of Allegiance to officially receive citizenship of Malta, provided they can do so. This oath must be made in person, so all successful candidates of the Malta citizenship scheme must visit the country to finalize the process of becoming an EU citizen.
HOW CAN I VERIFY IF A COMPANY OR PERSON IS IIP ACCREDITED?
A law firm, audit firm, an intermediary firm, a financial advisory firm, or other person or body that has been officially authorized to help foreign nationals attain Maltese citizenship will advertise their Identity Malta Accredited Agent number which can be independently verified on the Government of Malta's website here.
IS MALTA SAFE TO INVEST IN?
Malta is a republic with a parliamentary democracy system and is highly respected and considered neutral on the international stage. Malta's banks have total assets worth more than seven times the country's gross domestic product (GDP), making it a very economically secure nation with the second largest banking sector in the Eurozone. Unlike many neighboring EU countries, Malta has an excellent credit rating (BBB+), and their government bonds are in high demand amongst both professional and retail bond investors. Malta withstood the "great recession" remarkably well with the country's housing price index never dropping by more than 5% in a year including in 2008 and 2009 when other European, real estate markets were crushed. The country has also never imposed a tax on deposits in Maltese banks, dissimilar to nearby Cyprus who imposed a one-time tax levy in 2013 which included offshore bank accounts. As part of the former British Empire, Malta's financial system was built from the ground up with a solid foundation and has proven to be both robust and stable even while other European nations have faced significant economic challenges. Not only did the Maltese economy weather the European financial crisis exceptionally well, but it is also now one of the leading economies in the Eurozone. According to the country's National Statistics Office, the Malta economy expanded by more than 3% last year. The European Commission is currently forecasting that the Maltese economy will grow by more than 4% in both 2019 and 2020, making it one of the top economies in the entire EU during this period. The economists and reporters of the "Global Wealth Migration Review" recently reported that Malta experienced the second largest wealth growth of any country in 2017, behind only India and tied with China. Every new high-net-worth individual (HNWI) that becomes a citizen of Malta via the I.I.P. will help grow the local economy. As of 2019, the Maltese economic citizenship program has brought in more than EUR 500 million and has become a key driver of economic growth in the country. The nation's safe and stable economy is just one of the many reasons why the Malta Individual Investor Program is a secure and strategic investment.
WHAT IS A "MALTA GOLDEN VISA"?
A "Golden Visa" is the name of a popular EU investor visa offered by a few Southern European countries, such as Spain and Portugal, to foreign nationals who invest in their country's property market. Many people refer to the new Malta Residence and Visa Program (MRVP) as a European Golden Visa. If you are interested in an EU Residence Permit as opposed to European citizenship, a Maltese investor visa may be right for you. Malta residency by investment can make doing business in Europe easy by eliminating the need for a Schengen Visa to travel within the European Union.
MALTESE NATIONALITY VS RESIDENCY
The Individual Investor Program is much more than just a Malta investor visa; it offers foreign investors full citizenship in Europe as opposed to just EU residency. While the Malta residence scheme is an excellent way for non-EU investors to get a European Residence Permit, obtaining a second passport in Malta is only possible through the IIP. If you want full European citizenship and a Malta passport, the Individual Investor Program is for you. Often considered the most popular economic passport program in the industry, making an investment for citizenship in Europe through the Malta nationality program is safe and transparent.
WHAT DOES THE DUE DILIGENCE PROCESS ENTAIL?
As distinguished citizenship for an investment program, the Malta Individual Investor Program will only accept investor immigration candidates who are highly respectable and have no ties to criminal activity. As part of the immigration Malta due diligence procedure, detailed background verification checks are run to determine if candidates are of good repute and that all funds have been derived from legal means. The due diligence fees paid when formally submitting a Malta citizenship application cover the expenses incurred while verifying that an investor's money is clean and that they are a credible person. The Malta investor citizenship program has an immaculate reputation and the world's strictest due diligence standards and will reject any aspirant who is unable to identify and prove the legitimate source of their cash. Applications that contain false information or omissions will also be declined. The program has a powerful four-tier due to diligence system that is considered the most advanced in the industry and any person deemed a potential reputational risk, national security risk, or currently subject to a criminal investigation will be denied Maltese citizenship. Also, applicants who have been denied a visa to any country with which Malta shares visa-free travel arrangements will not be eligible for the program unless they have since successfully obtained a visa from that nation. Malta's due diligence team is comprised of many former risk and compliance officers from major banks. The experienced team has developed a risk matrix that includes a seven-step verification process for each applicant. In addition to thorough background verification and anti-money laundering scrutiny, Malta immigration officers even have journalists from Thomson Reuters and Exige build a detailed assessment of each to be factored into their overall risk profile.
IF I MAKE THE MAJOR FINANCIAL CONTRIBUTION AM I GUARANTEED A MALTA PASSPORT?
Applicants for citizenship by investment in Malta are not required to make the sizable contribution to the country's National Development and Social Fund until after they have passed the due diligence stage of the program and have been approved in principle. Once a person has been approved in principle, the only conditions that must be met before they will be made a European citizen and given a Maltese passport are for them to satisfy all the remaining Malta citizenship requirements laid out in the program such as the bonds investment and residency stipulation. This means that you never have to worry about failing the due diligence process after you have already invested the full amount of money required by the program.
CAN MY CHILDREN STUDY IN EUROPE?
In addition to getting a second passport that makes traveling internationally very easy, people who obtain Malta nationality through the immigrant investor program can go to university in Europe without needing to qualify as an international student. Not only are the entrance requirements at most top universities in Europe significantly lower for students from other EU countries compared to students applying from abroad (especially Asia), often the tuition rates charged by universities and colleges will be much lower for Europeans.
WHICH OF THE MALTESE ISLANDS DO I NEED TO VISIT?
The Maltese archipelago consists of three main islands: Malta, Gozo, and Comino, and has a total land area of 316 sq. Km. Malta is the largest and most populated island and is the cultural and commercial hub of the country. Gozo is the next largest of the islands and is more rural with a booming tourist, fishing, and agriculture industry. Comino is a very tiny island located directly between Malta and Gozo. Valletta, the capital city, is located on Malta island and is where all business related to the Maltese citizenship program takes place. When IIP Malta candidates visit the country to give biometrics, obtain a residency card, or take the Oath of Allegiance, they will need to visit Valletta, which is located conveniently close to the Malta International Airport.
WHAT IS THE DIFFERENCE BETWEEN A CITIZENSHIP BY INVESTMENT PROGRAM AND AN IMMIGRANT INVESTOR PROGRAM?
Also referred to as economic citizenship or investor citizenship arrangement, citizenship by investment programs enable foreign nationals to obtain citizenship in a country provided they make a substantial financial contribution to that jurisdiction. Immigrant investor programs typically only offer investors residency in a country in exchange for a significant monetary donation, not citizenship, which is why investors much more covet citizenship investment programs. Because a financial investment is a requisite of the Individual Investor Program, some people inadvertently think it is no different from a Malta passport for sale scheme; which is entirely false! Although some media publications periodically use terms such as "Maltese passport for sale" when discussing the island's citizenship program, wealthy businessmen and businesswomen expecting to instantly buy Maltese citizenship are going to be disappointed because the IIP is not an EU passport for sale scheme it is a legitimate citizenship by investment program recognized by the European Commission. Not only can you not go out and buy a Maltese passport tomorrow, but you also cannot just instantly buy Malta citizenship outright; the Individual Investor Program requires applicants to establish residency on the islands and build a genuine link with the country. Investor programs are not very different from other forms of skilled worker immigration as both types of programs have the simple goal of improving a country's society and economy. The fact is, global citizenship facilitates innovation across borders, and educated business leaders who are the primary demographic participating in citizenship by investment immigration bring tremendous value to the communities they join.
MALTA GLOBAL RESIDENCE PROGRAM
In addition to Malta economic citizenship, immigration to Malta is possible via the country's Global Residence Program. The Global Residence Program Malta enables economically self-sufficient individuals who rent or own a permanent address on the islands to be formally recognized as a resident for tax purposes. If you are not interested in getting a Maltese passport and wish to live in a warm Mediterranean residence while retired and collecting a pension, the Malta Global Residence Program may be the ideal Malta immigration channel for you.
MALTESE CITIZENSHIP BY DESCENT (HOW TO GET AN EU PASSPORT)
Wondering how to get a European passport if you have Maltese ancestors? Amendments to the country's Citizenship Act in August 2007 make it easy for direct descendants of Malta citizens to obtain an EU second passport. Maltese citizenship by ancestry enables anyone with documentation showing direct descent from an ancestor born in the country of a parent who was also born on the islands to fill out a Malta citizenship application and obtain a European passport. Even if you have no plans to ever invest in Malta, if you have Maltese parents, grandparents, or great-grandparents, our Malta immigration team can assist you in attaining dual citizenship in Europe as well as a second EU passport.
WHAT TYPE OF HEALTH INSURANCE DO I NEED?
The Malta citizenship investment program requires all entrants to hold a valid comprehensive health insurance policy that covers all worldwide medical expenses up to at least 50,000 euros per family member.
HOW MANY APPLICANTS WILL BE ACCEPTED FOR ECONOMIC CITIZENSHIP IN MALTA?
Although the Maltese nationality by investment program is the most exclusive citizenship scheme available today, there is no cap on the number of applications accepted. When the Individual Investor Program Malta first launched in 2014, it was strictly capped at 1800 applicants. This is no longer the case, however, and the country has secured a deal with the European Commission to allow the member state to choose for themselves how many people to accept into the program.
FINDING A PROPERTY IN MALTA
Citizenship by investment Malta candidates is required to have a registered functional address in the country to apply for a residence permit under the program. Since it is impossible to become a citizen of Malta by investing without first meeting the Individual Investor Program's residency requirement, applicants must present authorities with a copy of sale agreement or lease agreement at least 12 months before they will officially be given a Malta passport. There are no specific IIP requisites for the property other than satisfying the minimum annual rent (16,000 euros) or purchase price (350,000 euros), although we recommend our clients choose sensibly and not lease a tiny bachelor apartment for a large family. Our Malta immigration team can assist clients with locating the ideal property on the islands that will thoroughly meet their needs while also fulfilling all the investor program regulatory requirements. Once the power of attorney documents have been completed, we will also be able to sign a lease on our client's behalf, making the process of securing a sanctioned apartment even more comfortable and less time-consuming. Clients can also complete the property transaction application in advance, allowing us to email them properties that match their requirements and upon selection secure the apartment, sign the lease agreement, and pay the landlord's deposit and first three months of rent on their behalf without the client needing to return to the country. At MaltaImmigration.com, we treat every single one of our clients like a VIP!
CAN I INVEST IN MALTA CITIZENSHIP WITH A COMPANY OR TRUST?
All funds for the Individual Investor Program Malta must be transferred from the main applicant's bank account. This means you cannot make the financial contribution to the National Development and Social Fund (NDSF) from a holding company or offshore trust. It also means you cannot have a friend or family member wire the money to the islands on your behalf; the name on the bank account sending the payment must match the name of the primary applicant.
CITIZENSHIP BY INVESTMENT MALTA APPLICATION PROCESS
The first stage of the Maltese Individual Investor Program is initial due diligence, during which IIP Malta Ltd. conducts a preliminary background verification on the principal applicant and their family. As part of this process, the applicant must provide their details such as private address as well as profession and name of employer. The principal applicant must also provide information about the number of residence cards he or she holds. All applicants need to provide a copy of their passport, and the main applicant must additionally hand over some necessary bank account details such as the name of their bank, its address, and the SWIFT code. After the preliminary due diligence stage, a client service agreement and power of attorney document must be signed by the applicant as part of the preparation of a Malta resident permit application. There are also several government forms that must be completed, including Form K and Form ID 1A for non-EU, EEA, or Swiss citizens. In addition to requiring a passport copy, the Maltese resident permit application requires the primary applicant to provide a bank reference as well as bank statements from the last three months, a suitable certificate of global health insurance coverage, and a cover letter detailing their reasons for applying for a Malta passport. Spouses are required to present a copy of their passport, a marriage certificate, and a certificate of their health insurance policy with global coverage of at least 50,000 euros. Documents required for dependents include a passport copy, birth certificate, proof of sufficient international health insurance coverage, as well as evidence of financial dependency on the main applicant for dependents older than age 18. We work alongside clients throughout the entire Maltese passport application process.
CAN DOCUMENTS BE SUBMITTED IN YOUR NATIVE LANGUAGE?
All documentation according to the Malta economic citizenship program must either be in English or accompanied by an authenticated translation. For example, documents required by Identity Malta that are in languages such as Russian, Arabic, or Chinese must be submitted alongside an accurate English translation. Translated documents must also contain details about the professional translator who was responsible for the language translation. When a “certified copy” of a document is mandatory, a photocopy of the original document will suffice provided it is certified to be an exact copy of the original by a duly licensed lawyer. For a confidential consultation regarding the Malta citizenship by investment program, please phone us today or request a call back via our contact form.
REPUBLIC OF MALTA
|Capital City ||Valletta |
|Total Area ||316 km2 |
|Languages ||Maltese, English |
|Population ||493,559 (2019 estimate) |
|Currency ||Euro (€) (EUR) |
|Visa-Free Countries ||182 |
|Nearest Country ||Malta is an island so it doesn't have physical borders with anyone. The closest country to Malta is Italy |
- UTC+1 (Central European Time)
- Summer (DST) UTC+2 (Central European Summer Time)
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