Malta Citizenship Cost Calculation
As the world continues to grow more competitive by the day, great emphasis is laid upon excelling in every aspect of life. This usually calls for enhancing the career, academic or lifestyle opportunities available at a given time and more often than not, that involves moving beyond the immediate geographical and social boundaries. The global perception of an individual or a firm is of utmost importance. In that regard, individuals often attempt to transcend the limitations that a single, native citizenship imparts for entrepreneurial or educational pursuits or even for an upgrade in lifestyle.
For fulfilling such goals, a robust and respected passport can be very helpful. With tools such as passport indexes available to one and all, it becomes quite easy to assess the global ranking of an individual’s current passport. The most convenient way to broaden the scope for international travel for business or recreational purpose is by acquiring a citizenship of another country, facilitated through an available investment program. By virtue of such programs, it’s possible to procure passports of countries with impressive rankings and thereby travel visa-free or with visa on arrival to a larger number of destinations
Designed to cater to the need for internationalizing the reputation of various high network individuals and entrepreneurs, the citizenship by investment programs enables an individual to lay claim to the citizenship of a country, whose passport allows greater access to a wider pool of countries, in return for a specified amount of investment. Such investments are likely to reap enormous and sustained returns for an individual in the long run. Among several of existing citizenship programs, Malta’s has emerged as one of the most popular due to the wide array of benefits it provides, thus making the Malta Citizenship Cost seem a rather worthwhile investment.
Why Apply for Malta Citizenship
Located at the heart of the Mediterranean Sea, Malta is a picturesque archipelago with amazing landscapes and pleasant weather all year round and is a sight to behold.
Its natural geographical features such as cliffs, coves, and tranquil waters have made Malta a popular tourist destination, but it is much more than that. It is an ideal place where one can live, bring a family or start a family, grow old, have a flourishing career and much more. The growing economy and stable governance make it perfect for investment in its many homegrown businesses as well as a strategic location for international business houses.
The benefits don’t end there. Malta has been a member of the European Union since 2004, and this adds to its desirability among world citizens as a place of residence. With a rank of 4 in the passport index, the Maltese citizenship by investment program is one of the most streamlined and expedient citizenships in the world.
The Maltese passport facilitates visa-free travel in as many as 124 nations as well as the benefit of visa on arrival in 41 countries. The Malta Residence and Visa Program offers a lucrative opportunity to acquire an EU residence card and avail of visa-free travel in the Schengen Area. Strategically located between Europe and North Africa, Malta has highly useful air links. Procuring the citizenship of Malta has numerous advantages. It is possible to own a Maltese passport through a smooth and hassle-free process. The Maltese citizenship cost entails a contribution to the government, investment in government bonds and acquiring a property in Malta.
Benefits of Malta Citizenship
There are several significant gains that the Malta citizenship cost brings, rendering it among the most sought after citizenship programs.
- Visa-free travel in 124 countries and visa on arrival in 41 countries, including the U.S.
- The Maltese citizenship includes a lifelong and permanent EU citizenship, enabling the passport holder to reside or set up an establishment or work in any of the 28 EU countries and Switzerland
- It is not necessary to reside permanently in Malta to avail of the citizenship
- No Maltese language tests or any other related citizenship tests are necessary to be eligible for this program
- No compulsory military service is required
- A fast-track citizenship application process with approval taking place within 3-4 months and the complete citizenship process completing within a year
- A single application includes the entire family vis-a-vis spouse, children and other dependents
- Citizenship can be passed on to the descendants who automatically inherit the citizenship
- Maltese citizenship does not require one to pay taxes unless one lives in Malta for more than six months. Further, only the remitted income is taxable
- Malta has a strategic location with excellent air and sea links and global connectivity
- Acquiring a Maltese citizenship does not obligate the candidates or their dependents to relinquish their original citizenship. The candidates may avail of the perks of dual citizenship under this program, provided their native country permits such provisions
- A comfortable lifestyle in a stable and prosperous political climate
Malta Citizenship Price
To be a successful candidate and secure Maltese citizenship, the applicant is expected to abide by a specific procedure with strict guidelines. This is to ensure that only credible candidates are granted citizenship. All applying candidates are subjected to a four-tier due diligence process to qualify for the citizenship program. The verification process involves a detailed background check to make sure that all the funds held by the candidate have been earned through lawful means. The Malta citizenship cost in terms of investments would be required only after the verification process is complete.
The requirements for the citizenship program may be classified into two categories, namely financial requirements, and non-financial requirements.
Non-Financial Requirements for Malta Citizenship by Investment
The non-financial requirements of acquiring a Maltese citizenship are fairly straightforward. The applicant for Maltese Citizenship needs to be at least 18 years old. Applicants are required to provide a police certificate endorsing the fact that they have an immaculate criminal record. Further, the government of Malta conducts rigorous checks with the International Criminal Court, INTERPOL, and other authorities to validate the information provided by the candidate.
Moreover, the applicant is required to be in good health and not suffer from any contagious disease or any other ailment that might burden the Maltese health care facilities. Applicants must be in possession of legitimate international health insurance policies for themselves and their dependents.
Financial Requirements for Maltese Citizenship By Investment
The Malta citizenship by investment cost has some elaborate financial specifications. However, the Maltese citizenship programs require the applicant to make the payments only upon receiving the precursory approval from the Maltese government, thereby guaranteeing a successful result against the costs incurred. The Maltese citizenship cost can further be divided into three parts: costs for donation, stocks and bonds, and property investment.
- Donation to Malta’s NDF (National Development Fund)
All candidates who apply for the Malta Citizenship by Investment program are mandated to make a significant, non-refundable payment to the Government of Malta’s National Development and Social Fund, which is run by an eminent board of trustees. This fund provides financial support to various developmental projects in Malta in the field of employment, education, public health, social improvement, and innovation. As a rule of citizenship by investment program, the required payment must be made within four months of the issue of a precursory approval or the “Malta IIP Letter of Approval in Principle.”
The expected cost for the applicant is €650,000 which corresponds to approximately to $730,957. The expected amount of investment is directly proportional to the number of family members that an applicant has.
For a spouse application, an additional amount of €25,000, which is around $28,113, needs to be donated, and for every minor child, €25,000 is the requisite amount, €50,000 or $56,227 for every unmarried child between the ages of 18-26, for every dependent parent and grandparent, the required amount is €50,000, and finally, €50,000 for every adult or child dependent suffering from any form of disabilities.
- Bonds Investment
Besides the figures mentioned above, the Maltese Citizenship cost also involves a contribution equivalent to at least €150,000 or $168,682 in any bonds, stocks, debentures or securities listed in the Malta stock exchange and approved by the government of Malta. An individual is expected to maintain the investment for a minimum period of 5 years. The bonds investment is required to be made in stocks that have been approved by the government and are deemed profitable to Malta’s overall development.
- Real Estate – Purchase or Rental
Another part of the Malta Citizenship by investment cost is an investment in the local real estate. The candidates, as per the regulations of this program, are asked to provide a commitment that they will retain and maintain an immovable residence in Malta for at least five years, without subletting or letting the property out.
The real estate investment can be made by either purchasing a property, for which the investment required is at least €350,000 ($393,592) or by renting a property for at least five years with a minimum rent of €16,000 ($17,992) per annum. In the case of property purchase, the applicable government and processing fees are around 9-12 percent while the government and processing fees for renting a property is 12-15 percent.
Although at the outset, buying a property may appear to be a hefty investment; however, in the long run, the property can accrue several benefits. The real estate industry has shrunk in size over the past few years; therefore, while the current properties may be purchased at cheaper rates, and the value of the same is expected to see a significant surge in the upcoming years as the market evolves. In comparison, rented properties may entail lesser investments but also does not offer much return on investment.
A candidate must submit evidence of owning or leasing out a property within four months of receiving a citizenship Malta Letter of Approval in Principle. After making the suitable real estate investments, the applicants will be issued an e-Residence Malta identity card which will essentially vouch for the connection of the candidate with Malta. Although possessing a real estate property in the country is compulsory, applicants are not required to reside in Malta throughout the year and are only required to make a visit to Malta in addition to the purchase or rental of property.
Additional Expenses under the Malta Citizenship By Investment cost
Over and above the requisite financial investment, the applicants are required to submit a due diligence fee of €7,500 ($8,434) for the principal applicant, €5,000 ($5,622) for the spouse, adult children and parents, and €3,000 ($3,373) for children between the ages of 13 and 17 years.
Maltese Citizenship Cost under Residency programs
Similar to the Malta Citizenship by Investment program, are Malta’s unique residency programs. For those seeking to have a second home in this tranquil island, the Malta Indefinite Residency Program is a judicious choice, while for others who are more keen on the benefits accrued on the passport, vis-a-vis visa-free travel to 124 nations and on-arrival visa to 41 countries, the Residency and Visa program makes for a suitable option.
Further, for those individuals who prioritize on the real estate investment in Malta, the Malta Global Residency program is just what they need. For each of these programs, the Maltese citizenship cost is balanced out by the benefits ushered by these citizenship programs.
Under the Residency and Visa Program, applicants are expected to make the following investments:
- A non-refundable government contribution worth €30,000 ($33,736) out of which €5,500 ($6,185) will be an advance administrative fee for the government
- Investment in government bonds worth €250,000 ($281,137), to be retained for a minimum period of 5 years
- Purchasing a property of at least €320,000 ($359,856) or €270,000 ($303,628) in South Malta or Gozo, or a property lease of at least €12,000 ($13,494) per annum or €10,000 ($11,245) in South Malta or Gozo
This investment must be maintained only in the first five years of citizenship.
Similarly, the investments entailed under the Global Residency program would be as follows:
Candidates for the residence program need to invest in a minimum property value equivalent to €275,000 for a property in Malta, or €220,000 for property in the Southern Region of Malta or €250,000 for property in Malta’s Gozo. The residence permit holders may even opt to rent a property in Malta at €9,600 or property in Gozo and the Southern Region of Malta at €8,750 in terms of the annual rent. However, the qualifying property thus acquired should not be let or sublet. Upon being granted a residence permit, the candidates are also under an obligation to demonstrate that they shall reside in Malta for at least 183 days in a year. Consequently, the qualifying property needs to be established as the principal place of residence for the applicant and the bona fide dependents.
To avail of the citizenship by residency in Malta, the applicants are required to contribute €250,000 in any government bonds or equities and maintain the investment for a duration of 5 years. Additionally, an investment of €30,000 is required to be made towards the State Funds of Malta, and alongside that, purchase or rent of a property in Malta is necessary.
Malta Passport Cost and Benefits
When the Maltese passport cost is pitted against the advantages it provides, the scales tilt toward the benefits, thereby making the investment a reasonable one. Overall the cost a candidate incurs may be estimated at €1.2 million. This comes across as economical in comparison to various other citizenship programs offered by other countries. In the long run, as well, it becomes feasible to enjoy returns on the investment in property as well as saving on money and effort on procuring visas of several prominent nations, if a person has a Maltese passport.
The possession of a Maltese passport does not merely avail one of the ease of travel; it also brings with it a chance at a comfortable and peaceful way of life. In spite of being a relatively small country with a little over 4,00,000 population, Malta has been able to place itself in the top ten of the global passport indexes. Malta has a secure infrastructural framework and effective governance in place. The country has a high standard public services such as schools, hospitals, transport, telecommunications, etc. which ensures that its citizens enjoy a high quality of life. It has also recorded persistent industrial growth over recent decades.
Malta’s proximity to Europe provides it with a modern outlook and high standard of living, but the costs of living are not as much as the other European countries. The taxes are much lesser in Malta compared to other nations. The warm and favorable weather of Malta offers a welcome relief from the cold terrains of Europe.
The Maltese Passport price can also be measured with regards to the fact that Malta has a reputed international perception and is a member of renowned international organizations like the United Nations, European Union, International Monetary Fund and the Eurozone. Malta is also a member of the European Free Trade Association making trade and business prospects mostly profitable. Malta also enjoys excellent air and sea links to almost every part of the globe, making connectivity and travel easier than ever.
Let the experts at Citizenships.com help guide you on your path to an additional citizenship.