Malta is the largest island among the group of islands in the central Mediterranean. It lies between Sicily and the African coast and is known for its tranquility and isolation. As per the 2015 census data, Malta is a highly industrialized and service-based economy with a GDP in services of 87.2%. Its main industries include tourism, electronics, construction, food and beverages, pharmaceuticals, footwear, information technology services and aviation. The major strength of Malta is its strategic location and a fully developed open market economy with a multilingual population, 88% of which speak English. This island country is a member of the European Union (EU) and it formally adopted the euro on 1st January 2008. It is also a member of the Commonwealth.
Malta Citizenship Purchase
Malta citizenship programs are simple and straightforward. They majorly revolve around applicants having clear criminal records and sufficient funds for direct investments. The idea of gaining citizenship by merely buying it is sure laughable, however, this is not the case in Malta where an individual can make a Malta citizenship purchase through the Individual Investor Program (IIP). Malta selling citizenship is an opportunity that enables outsiders to gain Maltese citizenship by satisfying a few conditions like donating to the government fund, investing in approved stocks or bonds and investing in real estate.
Malta is one of the few EU nations that offers a citizenship through an investment program which in turn benefits the individual and also works miracles for the country’s economic growth and development with major investment in important industries. It is a win–win situation which can only lead to positive development. The decision of acquiring second citizenship has become popular as it is a smart decision and investment for the future. Moreover, the privilege of having second citizenship can be enjoyed without having to give up your present nationality.
Why Opt For A Second Citizenship Malta Purchase?
Living in a world which is subject to changes in economies and policies, individuals and businesses must be prepared for difficult times. A second citizenship or passport can secure the entire family’s future. In this regard, Malta selling citizenship can be good news because of the following reasons:
- Citizenship for life: Maltese citizenship offers citizenship for life and can be passed to future generations.
- Visa-free travel: The Maltese passport is among the top 10 passports in the world and ensures visa-free travel to about 165 countries.
- Stability: Malta is a safe and secure country, politically as well as socially.
- Low tax rates: There are amazing tax benefits for both the government as well as individuals.
- Pleasant climate: Malta has a pleasant and warm climate all through the year.
Requirements For Malta Citizenship Purchase
The amendments and changes made in the Maltese Citizenship Act, as well as the fresh Legal Notice LN47 in 2014, legally grant people Malta EU citizenship through purchase (investment). This is done via the Malta citizenship scheme with the main criteria being that the applicant has to be 18 years of age or more and should qualify all the Malta immigration requirements. The Malta citizenship by investment program has one of the strictest four–tier due diligence standards in the world to ensure that only deserving candidates are granted Maltese citizenship. The citizenship is valid for a lifetime and can be passed to future generations. Malta selling citizenship offers safety and security by providing a better quality of life and the legal right to work, study and live in all EU member states.
Maltese citizenship requirements can be classified under two major umbrellas namely non -financial requirements and financial requirements.
Non-financial Requirements For Malta Citizenship Purchase:
- Age requirements: The main applicant has to be a minimum of 18 years and above.
- Clean criminal record: Applicants should have a clean criminal record since the Maltese government conducts criminal checks which are thorough and intensive. Such checks are done through INTERPOL, International Criminal Courts and other such authorities. A police certificate has to be submitted by the applicant for getting an approval for European citizenship.
- Insurance policy and good health: To make a Malta citizenship purchase through an investment program, the applicant should be of good health and not have any major contagious diseases. Also, it is mandatory for the applicant to be covered by an international health policy.
Financial Requirements For Malta Citizenship Purchase:
There are three main financial requirements for the Malta citizenship by investment program:
- Non-refundable contribution
All individuals applying for the Maltese citizenship by investment program must make a non-refundable contribution to the National Development and Social Fund set up by a group of trustees and the government of Malta. This fund is used to finance projects of education and social development. The amount has to be paid after the applicant has been issued a Malta IIP letter of Approval. The funds are as follows:
- Main applicant – €650,000
- Spouse – €25,000
- Minor children – €25,000 each
- Unmarried children (18-26)- €50,000
- Dependent parents – €50,000
- Physically or mentally challenged adults – €50,000
- Investment in stocks or bonds
Applicants are required to invest in government approved financial instruments in the form of stocks, bonds and debentures whose minimum value should not be less than €150,000. Such money will be locked with the government for at least five years. No interest will be paid by the government on such investments.
- Real estate purchase or rental
Applicants have to purchase and retain a residence in Malta for a period of not less than five years which can be either done by purchasing a property for a minimum value of €350,000 and maintaining ownership or leasing a property for a period of five years or more with an annual rent of not less than €16,000. The evidence of the purchase of property has to be provided within four months of receiving the citizenship.
Applicants are given a document known as the eResidence card upon purchase of property or leasing of property in Malta which signifies an applicant’s genuine link in the country. After an applicant has spent 12 months in the country and maintained a residence, he will be granted Malta citizenship.
Key Documentation Required
There are several documents that need to be produced while applying for Maltese citizenship through the Initial Investment Program. The language used in the documents should be English. The documents required are.
- Health certificate stating that good health and no contagious disease
- A police report from your local police force and the Maltese police force or a report from any police force where you have resided for more than 6 months in the last 10 years
- Proof that the family members in the application are of good standing
- An official declaration to invest in Malta and remit all the contributions
- Any other document asked to be provided by the Maltese government to check financial or personal records
The authorities will check the authenticity of the information and documentation provided before initializing the application process.
Benefits Of Malta Citizenship
- Citizenship of a small and peaceful country like Malta can save life in times of war, terrorism or unforeseen circumstances
- Visa on arrival access to 165 nations including the U.S.
- Spouse, children and other dependents in the family can apply for citizenship on the basis of one single application
- No citizenship or language tests needed
- Fast track citizenship process with the entire process being covered within 1 year and application approval taking 3 to 4 months
- Permanent lifetime citizenship and a right to set up an establishment in any of the EU countries and Switzerland
- No local taxes unless the applicant lives there for 6 months or more
- Stable political climate and growing economy
- Strong passport for applicants who have weaker passports from other countries
Malta Citizenship By Investment Application Process
The process of applying for the Malta citizenship by investment program involves quite a few stages. The Malta citizenship through purchase program starts with IIP Malta Ltd conducting an initial background verification of the main applicant. The applicant is required to provide personal and professional details at this stage. Information like the citizenship held in other countries, bank account details, etc. also needs to be provided.
After this due diligence stage, a power of attorney document and client service agreement must be signed by the applicant for the next stage which involves preparing for Malta resident permit application. A few government forms need to be filled in including Form K and Form 1D 1A for non–EU, EEA or Swiss citizens.
The main applicant has to provide bank references and bank statements of the last three months and a suitable international health insurance coverage. A document detailing the reasons for applying for the citizenship of Malta will also be needed. The spouse of the applicant is required to furnish a copy of his/her current passport, health insurance coverage of minimum €50,000 euros and their marriage certificate. The documents required for dependent application are passport copy, birth certificate, health insurance cover and proof that they are financially dependent on the main applicant.
Once these documents are ready, the procedure goes about as follows:
On day 1, a Malta Individual Investor Program application form needs to be submitted with the supporting documents to Identity Malta. Evidence of the source of funds is also required at this stage.
The Due diligence fees are as follows:
- Principal applicant – €7,500
- Spouse – €5,000
- Minor dependent (0-12) – no fee
- Minor dependent (13 -17) – €3,000
- Adult dependent – €5,000
- Bank charges per application – €200
At this stage, a monetary contribution of €10,000 must be made.
On day 5, Identity Malta will inform the candidate if the application has been accepted or needs any additional paperwork.
On day 90, the applicant will receive a confirmation from Identity Malta that the application and documents are in order. Additional verification can go on for 30 days by the Maltese regulatory body.
On day 120, the applicant is officially given an IIP approval.
On day 125, Identity Malta sends the applicant a request to pay off the remaining balance for the National Development and Social Fund contribution. The candidate is given 20 days to pay the remaining amount.
Day 145 is the Maltese IIP financial contribution deadline. The entire fund contribution should be made by this date.
On day 240, the applicant must provide evidence of €150,000 bond investment as well as the Malta real estate purchase or rental.
Issuance of Naturalisation Certificate
Once an applicant has completed the formalities and obligations under the Malta Individual Investor Program for Malta citizenship purchase and taken an oath of allegiance, a Certificate of Naturalisation will be issued and the applicant will be given a Maltese passport.
Malta EU Citizenship For Sale
Citizenship by investment programs offer the super–rich, elite and high-income net worth individuals a golden opportunity to acquire nationalities other than their homeland through investments. The global market for citizenship by investment programs (CIPs) is booming and has become an industry in itself. The costs of such programs range from as little as €74,900 to as much as €2.5 million. Affluent applicants pay this price by directly investing in promising ventures, buying government bonds or by simply depositing cash in exchange for citizenship. Some countries do not offer direct citizenship but instead, offer “golden visas” which can eventually lead to citizenship after a period of five years.
The Maltese EU citizenship for sale requires applicants to make investments in property, bonds and donate to the national fund, and in turn the citizen is allowed to live in any EU country and travel freely inside the Schengen area. Due diligence on applicants and their sources of wealth and investment are thoroughly scrutinized before they are allowed to make the Malta citizenship purchase. A significant amount of time is spent by the government and other firms to ensure the highest levels of security, background checks and authenticity of information and documents provided. This is done to avoid any major corruption risks like money laundering.
Popularity of Malta EU Citizenship For Sale
Rightly so, Malta EU citizenship for sale is gaining popularity. Malta is an independent country that has a charm like no other with the huge stretches of pristine beaches, beautiful weather, polite and charming people and rich historical culture. However, this tiny country offers many more perks and benefits and something far more important than its natural beauty. The primary reason why the richest people of the world are in awe to grab the Malta EU citizenship for sale opportunity is its extraordinary and very appealing passport.
Malta selling EU citizenship is an opportunity that allows applicants to be a part of the whole of Europe and gives them the right to travel visa-free to 165 countries. Malta is selling EU citizenship without needing one to complete a certain tenure in the country.
The other major factor why Malta selling EU citizenship is a piece of good news because it doesn’t levy taxes on the individual’s worldwide income and assets but only levies a 15% tax on the money invested in the country through the different forms of investments. This works wonderfully for the high net worth individuals.
This arrangement to obtain Maltese citizenship through the Individual Investor Program works in favor of the wealthy and rich individuals who either have to purchase or lease property on one of the three islands of Malta and extend contribution to the fund development in exchange for a passport without necessarily visiting or living in the country.
Malta selling citizenship at cheaper rates than other EU nations like Austria and Cyprus is another reason for its growing demand. Its EU status sets it apart from the passports of other Caribbean countries like Grenada and Dominica to name a few. More than half of the purchase of Maltese citizenships have been made by business magnates, real estate tycoons and the big names of private limited companies.
Guidance On Malta EU Citizenship For Sale
Malta selling EU citizenship is a relief for those interested in procuring a powerful second citizenship in a short amount of time. However, there is a significant financial investment that goes into the process of procuring the Malta citizenship by investment, which is why it is important to follow the application process precisely to ensure smooth processing of the citizenship. The citizenship by investment process can be completed within a year, but any discrepancies may delay the process.
Taking the guidance of experienced providers such as Citizenships.com will help you select the best course of action for your goals, and streamline the entire process. Register with us now!