Malta offers EU citizenship in return for a qualifying investment made by high-net-worth individuals. The new name for the program is Malta Citizenship by Naturalization for Exceptional Services.
You can apply for the program when you reside in the country for at least 12 months.
In addition to EU citizenship, Malta Citizenship by Investment program offers many other benefits. For example, Malta has very low crime rates. The 2019 Global Wealth Migration Review ranked Malta the second safest country. It also provides EU citizenship in a shorter time compared to other Golden Visa programs.
What the Citizenship by Investment Program Entails
The minimum investment amounts are as follows:
- If you’ve resided in Malta for 36 months, invest at least €600,000
- If you’ve resided here for 12 months, then the minimum investment amount is €750,000
- In addition to one of the investments above, make a €10,000 donation to an organization. The organization must be approved by the Community Malta Agency
- When the above mentioned investments are complete, you’re eligible to invest in one of the areas below:
- Buy a property worth at least €700,000 in Malta. The property must be held for at least five years
- Or, lease a residence (for five years) whose rental value is €16,000 per year.
You cannot sell that property until these five years are over.
The Benefits of Malta Citizenship by Investment Program
First of all, you and your family will get the right to live, work, and study in the EU.
Let’s look at other advantages of the program.
No Obligatory Language Test
You don’t need to take any language test to qualify for Malta Citizenship by Investment program. Note that many countries require such tests for the naturalization process.
You’ll Have Access to Education and Healthcare Services
You can include your spouse and children under 29 in the program. They all can benefit from the public services of education and healthcare. For example, your children can go to Maltese schools and universities. Note that public schools are free, as well as transportation and books. The University of Malta is also free for citizens of Malta.
The healthcare system in Malta ranks in the top five, according to WHO. The health insurance in Malta covers some services. They include prescriptions, hospitalization, childbirth, and specialist treatments.
Tax Benefits for Citizens
Malta is in double taxation treaties with around 60 countries globally. So, your foreign income will not be subject to taxation in Malta.
Also, you’re not subject to taxation on the following:
- Inheritance or death,
- Net worth or wealth taxes,
- Estate duty,
- Municipal taxes, real estate taxes, rates.
You Can Travel to 186 Countries Without Any Visa
Maltese citizens benefit from all European Union benefits. Furthermore, you’ll have access to the USA and Canada without a visa requirement. Read more about: la senorita
Eligibility Criteria for Malta Citizenship by Investment
According to Community Malta Agency, you need to meet the following requirements for eligibility:
- You need to be at least 18 years of age
- You must make a qualifying investment as stated above
- You need to have a valid residence card to apply for citizenship. When you buy property, you’re issued a Malta identity document called an e-ID card
- You and your family members must be in good health
- Proof of due diligence is a must.visit here to know more information : kingnewsweb
Malta Also Offers a Residency by Investment Program
You can become a permanent resident in Malta through this program. The program entails less amount of investment. It allows you to renew your residency every five years. Adding your spouse, dependent children, and parents is also possible.
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You can also travel visa-free travel across Schengen countries.
Other Similar Programs
Portugal, Greece, and Spain offer similar programs to Malta.
Portugal provides citizenship or permanent residency at the end of five years of residency. For this, the minimum required amount is €250,000, which is through donation. If you want to buy real estate, the minimum amount is €280,000. Around seven days of residency per year is sufficient to maintain your resident status. After five years of residency is complete, you can renew your residency every five years.
Greece Golden Visa provides a residency by investment program. The minimum required amount is €250,000. Greece entails no stay requirement.
Spain also offers a residency by investment program as well. The minimum required amount for this is €500,000. Spain also doesn’t entail a minimum stay requirement to keep your residency rights. Application for Spanish citizenship is available at the end of ten years.
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