Located in the center of the Mediterranean Sea, Malta is considered an ideal second home for investors looking to have dual citizenship due to its stability and prosperity with a welcoming mindset. Although it is the smallest member in the European state, Malta has proved its ability to provide programs convenient for potential investors to reside, and flourish in the business world.
Malta Passport Ranking
The Malta passport is currently ranked 8th among global passports, according to Henley Passport Index data 2023. Malta passport holders can travel visa-free to 185 countries, including the United Kingdom, Japan, the United States, European Union, and UAE, making it one of the most looked-for passports across the globe. However, Maltese passport holders need visas to enter around 40 destinations including China, and India.
Malta Citizenship by Investment
Malta has introduced a new Citizenship by investment program in November 2020, offering investors and individuals a secure EU relocation route with a rapid and straightforward residency acquisition. The new program grants applicants and their family citizenship through a Certificate of Naturalization, contributing to the country’s economy. Applicants must invest a minimum amount to qualify for the program and prove 12 or 36 months of residency in Malta. According to the new regulations, this citizenship program will be limited to no more than 400 successful applicants per year. It will be restricted after granting 1,500 applicants citizenship. The previous program was officially closed after it reached the cap of 1,800 applications.
How to Get Malta Citizenship by Investment
To qualify for Malta’s citizenship by investment, applicants must invest at least €600,000 to the national development fund after 36 months of residency, or €750,000 after residing for 12 months in the country. Applicants should also buy a residential property of a minimum €700,000 and hold it for at least 5 years, or alternatively, lease a residence with a rental value of €16,000 yearly. Additionally, applicants must donate at least €10,000 to an approved cultural, scientific, philanthropic, or artistic organization or society.
Economic Citizenship Malta Application Process
To begin the process of acquiring Maltese citizenship by investment, applicants must sign a service agreement with an authorized representative, which will provide advice and assistance, and will prepare the documents and government forms. The authorized agent submits the application to the government of Malta. At this stage, Due diligence fees, passport fees, and down payment for the government contribution are due.
The agent then transfers the contribution balance amount to the government within 25 days of issuing the approval letter. Acquisition of a permanent residence and additional investment in Malta (bonds, shares) must be made within 4 months of receiving the approval letter. Applicants then, take an Oath of Allegiance in Malta, and the Government issues citizenship and passports to the investor and his family. The whole process can be completed within 5 months.
Benefits of Second Citizenship in Malta
In exchange for the investment contribution, Malta citizenship by investment provides a lot of benefits. It grants investors and their families the right to live, work, and study in Europe. Maltese citizenship by investment is granted for life and is irrevocable. Children will be able to enroll in Maltese public schools and universities. State schools including transportation and books are free for students. Investors who buy a Malta citizenship by investment can have access to a world-class healthcare system, ranked among the top five by WHO.
Malta enjoys a proven record of economic success and is one of the fast-growing economies in the EU, therefore investors can establish their businesses and penetrate the European market after gaining Maltese citizenship by Investment. They can also avail of modern infrastructure, internet services, and secured banking services, as well a an English-speaking business environment.
A Maltese citizen can take advantage of all European Union benefits, having the ability to travel to the US, Canada, the Middle East, Africa, and many countries in North, Central, and South America without a visa. They can visit 26 Schengen countries without border checks.
Malta Passport Price Increase
Maltese citizenship by investment can be granted to the investor and his close family members, such as the spouse and unmarried children under 26 years old, as well as parents and grandparents over 55 years. All the family members above 18 years, except the spouse, must be financially dependent on the main applicant. For each additional applicant, the investor has to contribute an additional €50,000 to the National Development and Social Fund. In addition, for each family member, the main applicant pays an administrative fee of €2,000 for a medical insurance policy and an eligibility assessment check costing €10,000 per person.
What is the Total Cost of Citizenship in Malta for an Individual?
The cost of Maltese citizenship by investment is calculated per applicant and for a period of 5 years. It depends on the number of family members included in the application and how rapidly it is issued. To obtain a Maltese passport by investment, applicants must show sufficient residence in Malta for 1 or 3 years as Maltese residents before applying for citizenship. There are three main types of expenses: government-mandated investments, government application fees, and legal fees. For the Maltese Exceptional Investor Naturalization, the main applicant is required to pay €1,331,527.5 for a 3-year residency option, and €1,481,527.5 for a 12- month residency option. This includes a philanthropic donation worth €10,000, a property purchase of €700,000 (or property rental at €16,000 per year), a resident permit fee of €5,000, a residence card €27.5, a citizenship eligibility due diligence fee of €15,000, Citizenship eligibility administrative fee of €1,000, and citizenship administrative fee of €500. Government and legal fees would increase depending on the number of dependents and family members included in the application.
Common Question about Malta Passport:
Investors looking to obtain second citizenship may have several concerns and would raise several questions before taking any investment risk.
How hard is it to get citizenship in Malta?
The Malta Exceptional Investment Naturalization (MEIN) states that an applicant the makes a direct investment in Malta can qualify for citizenship under the Granting of Citizenship for Exceptional Services Regulations. This program allows individuals, along with their families, to acquire citizenship upon meeting the investment criteria. Applicants should also undergo a strict due diligence process.
Can I get residency in Malta if I buy a house?
Purchasing a house in Malta is not enough to obtain Malta citizenship, investors are also required to contribute to the National Development and Social Fund organized by the Government and prove their residency for at least 1 to 3 years. They are also required to make a donation to a registered non-governmental organization.
How much money do I need to immigrate to Malta?
Applicants need at least €700,000 if they want to rent a residential apartment, and up to €1,460,000 if they want to purchase a real estate property.
Can I buy citizenship in Malta?
To qualify for citizenship and gain a Malta passport by investment, applicants need to undergo a strict due diligence process. They can buy citizenship by applying to the Malta Exceptional Investment Naturalization
Is Malta a strong passport?
Malta passport is considered a strong passport, as it is ranked 8th among global passports, providing its holders’ visa-free access to 184 countries including US, Japan, and UK.
Is Maltese citizenship good?
Malta allows dual citizenship. Most applicants can retain the citizenship of their home country in addition to receiving a second passport from Malta (EU). It provides citizens with a lot of benefits including a better quality of life, top-notch healthcare, and educational services, along with tax advantages, personal security, and retirement in a safe country.
How much does it cost to become a Maltese citizen?
It costs an investor between €700,000 to €1.4 million to become a Maltese citizen, and this depends on whether the applicant wants to purchase real estate or rent a residential apartment.