Malta is one of the most attractive countries in Europe not only for its great geographic location but for various factors such as attractive tax regime, political and economic stability, safety, and good quality of life. Malta is a member of European Union, Eurozone, and Schengen zone.
It is worth to be noted that the Malta Individual Investor Program (MIIP) or in other words Malta citizenship program is one of the best citizenship programs in the whole of the world, which provides visa-free access to 183 countries, including the USA and Canada.
Eligibility Criteria
- Main applicant must be over 18 years old and may include his/her husband/spouse or de-facto partner.
- Unmarried, financially dependent of the main applicant, adult children up to the age of 28.
- Parents or grandparents that they are not economically active and principally dependent on the main applicant.
A clean police criminal record from the country or countries of citizenship and from each country he/she has resided in for a minimum cumulative period of 6 months in the last 10 years, is required for the applicants (apart from minor children under 16 years old)
Full medical insurance for all applicants is also required.
Investment Schemes:
- Standard Procedure
If the main prospective applicant has 36 months period residency in Malta then EURO 600,000 is required as a government contribution. For each dependant EUR 50,000 is required as additional investment.
- Fast Track Procedure
If the main prospective applicant has 12 months period residency in Malta then EUR 750,000 is required as a government contribution. For each dependant EUR 50,000 is required as additional investment.
Property Investment:
In addition, an investment in real estate is required. The applicants must either purchase a residential property valued EUR 700,000 or a lease of a minimum of EUR 16,000 per annum. In both cases the property needs to be held for 5 years.
Donation:
A mandatory donation of EUR 10,000 to a registered charity organization is also required.
Process Overview:
The Maltese residency application for the main applicant and his or her spouse is filed to Community Malta Agency.
Following stringent due diligence checks for which the Malta Citizenship program is well known for, a letter of approval in principle is issued by the agency.
At this stage, all investment requirements need to be fulfilled and a visit to Malta is required to take the Oath of Allegiance which effectively bestows citizenship status. Passports and ID card may be issued at this stage.
Summary of benefits of Maltese Citizenship:
· Visa Free access to 183 countries including the USA and Canada;
· English speaking international business hub with excellent education institutions;
· Access to advantageous taxation, within European Union;
· A politically and economically stable country which provides a safe and secure social environment.
CTA Law Firm can advise you further on Maltese Citizenship by Investment Program application, on the basis of your specific needs. Please feel free to contact our Partner Mr. Theo Antoniou at theo.antoniou@ctalaw.net .
