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.
A good global reputation is of the greatest importance, both for an individual and for an organisation. Due to this, individuals often attempt to go beyond the limitations that a single, native citizenship imparts both for educational and entrepreneurial prospects, as well as, of course, the impact it has in terms of lifestyle ambitions.
For fulfilling such goals, a robust and respected passport can be very helpful. Passport indexes make understanding the quality and value of that documentation easy and straightforward, and available to one and all, it becomes quite simple to learn and comprehend the current global ranking just using an individual’s current passport.
The most convenient way to broaden the range of potential travel destinations, whether that be for business or pleasure, is by acquiring a citizenship of another country, facilitated through an available investment program. By virtue of such programs, gaining a passport for high ranking countries is made simple, allowing both visa free and visa on arrival travel 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 existing citizenship programs, the Malta Citizenship by Investment Program is coming out in front of similar schemes, finding itself 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 in the incomparably beautiful Mediterranean Sea, this location provides 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 Malta citizenship benefits don’t end there. You may not be aware of Malta’s 2004 membership in the European Union, and this adds to its desirability among world citizens as a place of residence. It should be of little surprise then, that Malta’s citizenship by investment programs provides access to a rank of 4 on that aforementioned passport index, and is among the top streamlined and expedient citizenships in the world.
The reasons for this are pretty straightforward. This is a passport which provides visa free travel to 124 countries and 41 more with a visa on arrival. This is in large part thanks to the inclusion of a EU residence card, allowing for travel all through the region. On top of that, it’s in a highly sought after spot right between Europe and North Africa, ideal for travelling between continents thanks to excellent air links. Considering you get all of this with such a simple and streamlined process, it is an ideal proposition for many. The cost of citizenship, which includes property and government bonds, also allows you to invest in this beautiful, ambitious country that is blossoming with opportunity.
Reasons for Choosing Malta Citizenship
That’s just a brief overview of some of the benefits of a Malta citizenship. We’re going to go into greater depths about what Malta can offer you and why it is such a highly ranked and sought after destination.
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 planning 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 advantages of a Maltese passport do not stop there though. In addition, there’s the beauty of the country itself, which is known for its scenic yet spectacular natural assets and a lifestyle well known for peace and quiet. This is in part due to its relatively small population of around half a million, meaning that its landscape remains unspoiled from overpopulation: another reason it ranks within the upper echelons of the passport index, where it remains consistently in the top ten.
It strikes a balance between stunning natural scenery and high standards of infrastructure, including quality public services like hospitals, transport and education, to name but a few examples. It means you can enjoy everything Malta has to offer, without having to give up anything in the way of modern standards. Not only that, but it’s improving all the time, with consistent industrial growth over recent decades, ensuring not only a high quality of life but one that is ever improving and advancing.
Its modernity feels in keeping with its proximity to Europe, where it shares many similarities in terms of standards of living. However, Malta has the added benefit of generally more affordable costs of living, particularly when it comes to taxes, which are much lower here than they are in the vast majority in neighbouring countries, and indeed countries in general. Of course, we can’t discuss the benefits of Malta without talking about its excellent climate, which is warm and welcoming throughout the year, much like its culture.
There’s also the logistical benefits of that world renowned passport, which is verifiably amongst the best in the world in terms of benefits, hence it’s globally recognised reputation. The benefits of a Malta citizenship include:
- Lifelong EU citizenship, allowing for access to work across 28 countries
- Travel to 124 countries without the need for any visa, alongside visa on arrival access in 41 destinations, including the United States
- The inclusion of the applicants entire family through a single application
- Citizenship that includes that of descendants
- Lower taxes including no need to pay taxes unless you live in Malta for more than six months, with only the remitted income being taxable
- Excellent location not just for its climate, but also for its convenient travel links
- All of this without the need to relinquish your original citizenship, no need to reside permanently in Malta, no language or citizen tests, no need for military service and even the option to fast track the application to 3-4 months.
Malta Citizenship Price
Applications are subject to strict guidelines and specific procedures in order to make sure that only legitimate candidates can gain citizenship. The way this works is that all applicants will find themselves subjected to a four-tier due diligence verification process, and only then will they be able to move on with their application for the citizenship program. This includes a background check to ensure that all funds held by the applicant are earned in line with Malta citizenship law.
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 some of which are related to finance, and other requirements which are non-financial.
Requirements for Malta Citizenship by Investment: Non-financial
The non-financial requirements of acquiring a Maltese citizenship are fairly easy to understand. First of all, the candidate needs to be a minimum of 18 years old to be considered for Maltese citizenship. They will also need to be able to prove via a police certificate that they have no notable criminal record. Checks can be undertaken via INTERPOL, the International Criminal Court and other authorities in order to ensure that the information provided by the applicant is correct and all in order.
The next requirement is that the applicant is in good health: specifically, they must not carry any infectious disease which could put others in danger and create additional strain or demand on the Maltese health system. They are also responsible for their own international health insurance policies, both for them and any dependents who also look to enjoy the benefits of the scheme. The office of Henley and Partners Malta is an excellent company in obtaining the Citizenship.
Malta Citizenship by Investment: Financial Requirements
The Malta citizenship by investment cost has some elaborate financial specifications. However, the Maltese citizenship by investment scheme only requires the applicant to begin with the payment process after getting initial approval from the Maltese authorities, meaning there is no unnecessary additional risk for the costs which are required as part of the citizenship scheme.
Maltese citizenship costs can easily be broken down into a trio of sections, including costs and bonds, property investment and the cost of donation.
Things to Know About Donating to the National Development Fund
If you want to be accepted as a candidate for this Malta Citizenship by Investment program, you will be required to make a payment that is both substantial and non-refundable to the Government of Malta’s National Development and Social Fund. As the name suggests, this is a fund which goes towards development projects in the country, which can range from everything to social improvement and public health to plenty of sectors in between, with a board of trustees ensuring that the money is best utilised. You will have to make the requirement payment within four months of the precursory approval from the Maltese authorities, as we mentioned above. This is known as the “Malta IIP Letter of Approval in Principle”.
In terms of cost, it is expected that the candidate will pay the equivalent of $730,957, which converted to Euros would be €650,000. However, the exact amount of dependents the applicant has is another variable to take into account, and will increase costs. For instance, both minor children and spouses require an additional payment of €25,000, whereas an unmarried child between the ages of 18-26 would be an additional €50,000. The latter amount is also due for a dependent adult or child that suffers from any kind of disability to be included in the application.
Alongside figures mentioned above, the Maltese Citizenship cost also involves the amount of €150,000 contribution equivalent in any stocks, bonds, securities or debentures you like, so long as they can both be found on the Malta stock exchange and also have the seal of approval from the Maltese government. Not only that, but the investment must continue for at least half a decade.
The reason that these kinds of stocks must be chosen is that they are viewed to be of benefit to Malta and its development generally by the government.
The Requirements for Purchasing or Renting Real Estate
In addition to the costs mentioned above is the requirement to make an investment in real estate in Malta. This is also a necessary part of the citizenship program. This requirement means candidates have to retain a property local to Malta for a minimum of five years, and in that time are not allowed to either let or sublet the property.
There are two ways of going about this property investment. You can either purchase a property for a minimum of €350,000, or, alternatively, the candidate can rent a property with a minimum rent of €16,000 each year. The latter is significantly cheaper from the outset, but is less of a long term investment, so it is dependent on whatever works best for the individual. Do note that when it comes to buying property, there are fees, both governmental and processing, which can come to between 9 and 12%. For renters, those fees begin at the latter and can go up to 15%.
The benefits of renting includes lower initial cost, but buying has several advantages over the long term beyond smaller fees. While markets can be unpredictable, the shrinking of the real estate industry has made properties quite cheap for the value, and many expect for the market to once again expand in the next several years. You don’t need to be an investment mogal to know that it is smart to buy cheap. This also means that you can get a huge amount of value for money in terms of the property quality itself.
This process of property investment must also take place within a four month space of receiving the Malta Letter of Approval in Principle. Doing so requires you to submit evidence of either owning or leasing out a locally based property. Completion of this process will grant the applicant an e-Residence Malta card, and this can be used as proof of being a resident of the country. One last important note is that none of this means you need to live in Malta all year round to be accepted. You actually only need to make a trip to Malta alongside the property purchase or rental: however long you choose to spend here is down to you.
Other Costs When Applying for Malta Citizenship by Investment
One extra additional expense alongside all those already mentioned is a due diligence fee. But don’t worry, this is both straightforward and quite minimal in comparison to other costs. The main applicant will be required to pay €7,500. The inclusion of spouses will cost an additional €5000, which is the same rate as adult children and parents, while children between the ages of 13 and 17 years will cost an additional €3000.
Maltese Citizenship Cost under Residency programs
Malta’s residency programs are an alternate route alongside the Malta Citizenship by Investment program. This is ideal for those seeking out a second home, and where better to have a second home than in the scenic sunshine of Malta? Meanwhile, those more focused on the travel and passport benefits may find the Residency and Visa program to be a more suitable route for application.
However, for those who are more interested on the real estate investment side of things, the Malta Global Residency program may be perfectly suited. Regardless of which program you choose though, we think that the costs are more than fairly weighted against a huge array of benefits that will be made available to the applicant.
In terms of the costs asked for under the Residency and Visa programs, the following costs are expected to be met by the candidate:
- €250,000 towards an investment in government bonds: these must be retained for five years
- €30,000 towards a government contribution, €5,500 of which is an advanced administrative fee paid to the government
- €320,000 minimum, or €270,000 minimum in the case of South Malta or Gozo, in the form of a property purchase. Alternatively, you can lease a property at a minimum of €12,000 per year. This cost reduces to €10,000 for properties leased in South Malta or Gozo.
The investments stated here must only be kept for the initial five years of citizenships. After that point, you are free to do whatever you like with your purchased property if indeed that is the route you have chosen.
Similarly, the investments entailed under the Global Residency program would be as follows:
In order to be successful, an applicant would need to invest in a property in Malta. Once again, the amount of money you need to spend depends on where in Malta you would prefer to buy property. For South Malta, the minimum amount is €220,000. In Malta’s Gozo region, the minimum amount is €250,000, and for the rest of Malta, the minimum amount is €275,000.
You may also rent property, which has similarly tiered minimum amounts. For Gozo or South Malta, that amount is €8750, while it is €9600 in annual rent for the rest of Malta. Once again, this property cannot be sublet or let. Unlike other schemes, the residence permit requires the candidate to reside in Malta for a minimum of 183 days of the year. As such, it also means that this residence must also be the individual’s principal place of residence both for them and for all the dependents they have included in the application.
The global residency program also requires the applicant to invest a quarter of a million Euros into government bonds or equities and this must be maintained for at least five years. Finally, there is also the necessary investment of €30,000 that must be forwarded to the State Funds of Malta. This is in addition to and not instead of the purchase or renting of property as outlined above.
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.
Having a passport from Malta isn’t just used to avail one of the ease of travel; it also brings with it a chance of a wonderfully high standard of living in a peaceful yet modern environment, all of this in quite a minute 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. On top of this, it’s a country with both an effective government and excellent infrastructure. 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. In addition, Malta has enjoyed consistent growth throughout recent years, stemming back decades.
Another advantage that Malta has is its location. Being close to Europe means it shares so much with its fellow European counterparts in terms of modernity and in its top tier standards of living. However, it also has the edge in terms of the cost of living. Malta is significantly cheaper than most European nations, both generally and in terms of taxation. It also benefits geographically from the excellent climate and weather, which make it more appealing for most in comparison to other, colder areas of the continent.
The Maltese Passport price can also be measured with regards to the fact that it is a country with an excellent international reputation, alongside being part of renowned international groups like the European Union (and thus the Eurozone) United Nations and International Monetary Fund. Malta is also a member of the European Free Trade Association making trade and business prospects mostly profitable. Finally, that vital mix of modernity and location come together to make Malta one of the finest places in the world for travel, opening up the rest of the globe and making connectivity and travel easier than ever.
At Citizenships.com, it’s our job to make the path to an additional citizenship as easy and hassle free as possible, so let our experts help you to start a brand new chapter of your life.