Malta comprises of a little gathering of islands in the Mediterranean Sea, south of the Italian island of Sicily. It got its freedom from Britain in 1964 after being a province for over 200 years. The country has a vibrant social legacy and a history of settlements going back 7,500 years. It has a fantastic climate along with friendly people and a low crime rate. Malta has been a member of the EU since May 2004 and became a part of Europe’s Schengen Area in 2007.
Malta has great infrastructure – roadways and other transport, telecommunications, hospitals, postal administrations, banking facilities, and state-of-the-art emergency clinics which are affordable and easily accessible to the common citizen. While Air Malta operates about 35 flights connecting various parts of Europe and the Mediterranean district, numerous other European carriers also run multiple flights to Malta. There is additionally an ocean connect with Italy.
Business in Malta
The central location of Malta in Europe makes it a very significant port and serves as the main gateway for goods imported into Europe from the African and Asian continents. This enables industries related to shipbuilding, ship repairs, and every other aspect of the marine services to gain a strong foothold in the country. Besides, Malta has several construction projects, especially since the government has been on a mission to improve and expand the roadways infrastructure in the country. Plus, Malta has seen the steady influx of industries in the Information Technology sector with companies setting up their offices in the country. Malta, without a doubt, is a country with enormous economic prospects and is ideal for citizens who wish to expand their business footprint in the EU region.
The strategy of the government to approach businesses seeks to expand on Malta’s many existing qualities, for example, its key strategic location, healthy global relations, a profoundly qualified, and English-speaking workforce, and personal benefits such as an outstanding health industry and excellent schools.
Why Live in Malta?
For individuals who want to live in Europe, with convenient air travel to popular locales like Rome and Paris, the capacity to travel openly in the European Schengen zone, and approach European services like hospitals, schools, etc. —yet who prefer year-long daylight and a warm climate—Malta is an ideal choice. It flaunts the hottest capital city in Europe and probably the best in terms of yearly temperatures with significant daylight hours, as well. Malta’s location is ideal in central Europe with a pleasant climate, relaxing views, a thriving tourism industry, low crime rate, and a steady economy. The languages spoken in Malta are English and Maltese. It’s an ideal destination to apply for citizenship and through the Malta Individual Investor Programme (IIP) to gain access to all the Maltese citizenship benefits.
All About The Malta Individual Investor Programme (IIP)
The Maltese passport known as “passaport Malti” in Maltese is a passport that is issued to the citizens of Malta. Being a Maltese citizen, one also becomes a citizen of the European Union. The benefits of a Maltese citizenship are huge. The holder of the passport, along with the national identity card, is allowed the free right of residence and easy movement through any of the states in the European Economic Area, as well as Switzerland. The passport is reliable and is ranked number 4 on the Passport Index 2019. It provides visa-free access to 124 nations and visa on arrival for 41 countries. Launched at the beginning of 2014, the Malta Individual Investor Programme (IIP) offers individuals and families worldwide, with a high net worth, citizenship in a highly respected EU Member Country.
Malta has a very stable economy and some of the most reliable banks in the EU. The Malta IIP is a leading investment citizenship program of its sort to be initiated by the European Commission, and the official body of the European Union has formally recognized the lawfulness of the program, making it ripe for success. The Malta citizenship application by venture process is very active, and the administration of Malta ensures that only notable, credible and people of repute can enroll for this program.
The Malta citizenship requirements are direct and straightforward. Applicants need a spotless criminal record and adequate financial assets for setting up the required investments. Applicants will be allowed citizenship in Malta through a Certificate of Naturalization, which can likewise be extended to incorporate their families. When the candidate gets Maltese citizenship, which includes EU citizenship, they have the privilege of foundation in every one of the 28 EU nations and Switzerland. They likewise can set up business in Malta and can get a Malta international ID empowering them to travel hassle-free across most of the developed world.
Benefits Of Maltese Citizenship
- The most attractive Malta citizenship benefits include a visa-free or visa on arrival entry to 165 nations, including the U.S.
- Maltese citizenship benefits also include a full and permanent lifetime EU citizenship, providing the right to set up a business in any of the 28 EU countries including Switzerland.
- He/she, with family, can permanently live in Malta.
- He/she has a chance of completing the entire citizenship process in three-four months.
- For the entire family, only one single application is required.
- Tax-free life if the candidate resides there for less than six months. Yes, there are actually countries in Europe where you can live without paying taxes.
- Being voted the 17th safest country in the world by the Legatum Institute, Malta will ensure a safe and secure life for the entire family with a high European standard of living.
Number of Citizenships Available
At the point when the Individual Investor Program for citizenship was first propelled in Malta in 2014, there was a strict cap limited to 1800 candidates who would get citizenship approval. However, in view of an arrangement with the European Commission, presently there is no restriction to the number of candidates, and it is the Maltese government’s choice to choose the number of individuals that are to be accepted into the program. Although there are no restrictions as to the number of candidates that Malta can take in, because of the careful screening process, the Maltese citizenship by venture program is among the most elite citizenship planning accessible.
Candidates obtaining citizenship by investment do not need to renounce their existing citizenship. However, while Malta permits dual citizenship, it is essential to confirm whether the current country of nationality allows taking on a second citizenship. If the current country has no issues, the candidate can enjoy the Malta passport benefits in addition to the benefits from his host country.
Maltese Citizenship for Descendants
A Certificate of Naturalisation grants Malta citizenship through investment, and once the candidate obtains EU citizenship via the Malta Individual Investor Program, he/she will have it infinitely and can even pass it on to future generations who would inherit the Maltese passport benefits.
Any child conceived of a parent having a Malta citizenship will likewise be a Maltese citizen. The citizenship can be passed on to all further descendants. It allows them access to EU travel papers and take advantage of all the benefits of Maltese citizenship.
Maltese identification is valuable for youngsters and overall youth in general because, in addition to global travel convenience, a Maltese citizenship will enable youth to apply for colleges in Europe without qualifying as a remote student. Therefore, the entrance requirements for a student is considerably lower for students applying as a resident of an EU nation, and the educational cost rates are additionally lower for Europeans.
Eligibility for the Malta Individual Investor Programme
The primary applicant for the scheme must be at least 18 years or above and meet the below requirements to qualify for the Malta citizenship scheme.
As a component of the Malta Individual Investor Program, there is a four-level due diligence process which is carried out by the Government of Malta. Candidates must have a spotless criminal record, and the Malta government conducts extensive criminal checks with leading legal enforcement bodies and investigating agencies such as Interpol, the International Criminal Court, Interpol, and various other sources and specialists. As a feature of the due diligence process, candidates should likewise give a police declaration while applying for European citizenship.
Applicants must also prove that they don’t have any contagious diseases. An international health insurance policy must also cover all applicants.
Required Financial Contributions
All people and families applying to the Malta Individual Investor Program must make a non-refundable payment to the Government of Malta’s National Development and Social Fund which is run by a leading group of trustees. The fund, which is on a similar platform as the national bank, funds the nation and is connected to the general wellbeing, jobs creation, social improvement, and overall development of Malta. The candidate must make the following contributions 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 (disabled) – €50,000 each
Candidates must promise to keep up permanent habitation in Malta for a minimum time span of five years. This is possible by either purchasing a property in Malta for a minimum rate of €350,000 and keeping up possession for 5+ years or by renting a property for 5 years or more with a yearly base lease of €16,000. Candidates must give proof of owning or renting a property on the islands within four months of accepting the Malta Letter of Approval in Principle.
A prospective applicant is required to invest at least €150,000 in government approved financial instruments – bonds, stocks, and debentures that benefit the nation. They are also required to keep the investment for a minimum of five years.
Once applicants purchase a real estate or enter a property lease in Malta, they are provided an eResidence card, which serves as a Malta identity document. It acts as a proof of the candidate’s original link with the country and qualifies the person for the scheme. The candidate is granted Malta citizenship after twelve months of maintenance, which means he/she gets all the Maltese passport benefits. While the candidate does not need to spend all 365 days in Malta, a minimum of 183 days should be spent in the country to be eligible. Thus, after acquiring or renting a house or estate in the Mediterranean island country and securing a Malta living arrangement card, candidates are not mandatorily required to invest any time in Europe.
For those citizenship applicants who have been residing in Malta for about a year preceding the I.I.P. endorsement, they can fulfil this residency necessity and can accordingly turn into a permanent resident of Malta a lot quicker.
Document Requirements for Maltese Citizenship Application
- Birth certificate
- Worldwide medical coverage of €50,000 ($56,227)
- Marriage certificate(in English)
- Individual details including family data, instruction, and business details
- Service bills and evidence of current habitation
- Bank statements showing your income source.
- Expense proclamations from the source nation
- References from legal advisors and financiers
- Police leeway endorsement from every one of the nations lived in recent years, including FBI verification, if previously resided in the U.S.
All documentation according to the Malta monetary citizenship program should either be in English or joined by a validated interpretation. For instance, the records required by Identity Malta that are in foreign languages or dialects, such as Russian, Arabic, or Chinese must be submitted in a correct English interpretation of the same. Interpreted files should likewise contain insights from the expert interpreter who was in charge of the language interpretation. While a “certified copy” of a document is mandatory, a photocopy of the original document will be enough provided it is certified to be a true copy of the original by a duly licensed lawyer.
Can One Lose Your Maltese Citizenship?
Yes, under the below circumstances there are chances of the Citizenship getting revoked. These are:
- The citizenship is denied if the candidate has given false, deceptive, or fraudulent information to the authorities
- The Maltese citizenship will be disavowed if the hopeful is detained in prison in another nation for over a year.
- If the person has a criminal record of paedophilia, pollution of minors, snatching, hijacking, assault, prostitution, etc.
- If the person represents a potential national security risk to either Malta or some other part of the EU, citizenship might be disavowed.
- If the person is engaged with any movement that may case notoriety to Malta, the citizenship might be repudiated.
- If the hopeful is related to organizations that are helping foes at war with Malta or the EU, the citizenship might be repudiated.
Difference Between Malta Residence And Visa Program And Malta Citizenship By Investment
Malta offers two avenues for individuals who are keen to gain citizenship. While both the Malta Residence and Visa Program (MRVP), as well as the Citizenship by Investment Malta program, enable clients to move sans permission in Europe, there are significant contrasts between the two.
The fundamental contrast between MRVP and citizenship is that MRVP furnishes applicants with permanent residency alongside an EU living arrangement card, while citizenship gives applicants a real international passport of Malta, along with the option to pass on the citizenship onto future generations. There is a huge cost distinction between the two types of residency, with citizenship requiring higher investments and an increasingly intensive confirmation technique. While the MRVP residence card only permits smooth, visa-free movement among the EU, citizenship program includes movement to other countries as well.
Malta Residence and Visa Program
The MRVP furnishes candidates with an open door for an endless stay in Malta. Candidates and their relatives can renew it indefinitely. Be that as it may, residing in Malta isn’t compulsory and clients can live in other EU countries also.
The costs associated with seeking an MRVP are:
- A non-refundable government commitment worth €30,000 ($33,736) out of which €5,500 ($6,185) serves as a development authoritative expense for the administration.
- Investment in government bonds worth €250,000 ($281,137), to be held for a base time of 5 years.
- Property purchase of €320,000 ($359,856) or €270,000 ($303,628), or a property rent of at any rate €12,000 ($13,494) per annum or €10,000 ($11,245).
Please note that this investment is only required for the first five years.
Securing a Malta citizenship will require liaising with government authorities, financiers, and corporate experts. With our experienced specialists, we help our clients build contacts and establish themselves in Malta. We employ a diverse range of experts to guide you seamlessly through this extensive process, supplementing traditional law and counseling firms.
For more queries about the program or to learn more about the benefits of Maltese citizenship, contact us by booking an appointment today! Our experienced and qualified team would be more than happy to assist.