Malta Residency & Citizenship By Investment
We Study The Regulatory Framework, Preparing To Issue Malta Citizenship For Investments
Malta is one of a few European countries which offer citizenship through an investment program. It is a highly-respected scheme which has worked wonders for the country, with major investment being put into major industries, helping the country’s economy grow enormously. The Individual Investment Program is the very first investment program which has been officially recognized by the European Commission. It was a program designed for high net-worth individuals who want to obtain full citizenship within an EU country. Panama has historically been one of the easiest countries to obtain residency in.
Furthermore, every passport costs €500 and there is also a bank charge of €200 per application. Upon application submission for the Malta residency program, the applicant pays €10,000. A minimum of €150,000 must be invested in shares, debentures, bonds and other investment vehicles as may be identified from time to time and approved by the Maltese government. The Malta citizenship requirements state that you need to invest in a property on the island with a minimum value of €350,000 and this property must be retained for 5 years. You can also lease a property on the Maltese islands having a minimum annual rent of €16,000, which must also be retained for 5 years.
Citizenship By Investment Case Studies
To put it another way, a family of four can obtain economic citizenship and second passports from Dominica for less than the cost of a single passport from St. Kitts. Austria is the gold standard of the second passport and citizenship by investment programs. Another use of the citizenship program was to compensate the mostly Russian foreign depositors whose cash they’d “borrowed” and converted into equity. Many of these high net worth Russian investors were given special deals in appreciation for their mandatory contribution.
Passports are an invaluable document dating back to Biblical times when individuals could be granted “safe conduct” letters requesting that the governors of foreign lands grant them safe passage. The first mention of a passport is in the Bible’s book of Nehemiah from approximately 450 BC. A second passport from a stable, peaceful country can be life-saving in the event of any kind of political unrest in one’s home country. Malta is a high-quality living destination because of its growing reputation. Further, in this article, you can explore more about its Malta citizenship cost and benefits. The present document is intended for guidance and general information only and does not constitute or purport to provide you with legal advice.
When Malta became an Independent State, the Independence Constitution established who could register as a citizen of Malta under the provisions of the same Constitution. Following amendments to Maltese Citizenship legislation in 2000, the provisions concerning the registration of persons as citizens of Malta were removed from the Constitution and included in the Maltese Citizenship Act . February 2000, a citizen of Malta could acquire resident permit turkey and retain a foreign citizenship/s along with his/her Maltese Citizenship. September 1964, the Independence Constitution established who would be entitled to an automatic claim to Maltese citizenship by either birth or descent and who may register as a citizen of Malta. The relative provisions of the Constitution regarding citizenship legislation were further complemented in 1965 with the enactment of the Maltese Citizenship Act .
And after living there for approximately five years, you can apply for citizenship. However, before you renounce your US citizenship, always consider the travel inconveniences of a passport that’s not as high-quality as the American one. You may need to apply for a visa to be able to visit the US or Canada, for example.
The spouse of the investor and unmarried children under the age of 18 or financially dependent children up to the age of 28 will also acquire citizenship. There is no requirement to live or reside in Malta prior or during the application, or even after citizenship has been granted. Any excess amount over the minimum of €650,000 for the private residence, counts towards the investment financial criteria. The Mediterranean climate, colonial culture, rich history and modern lifestyle all combine to make Malta one of the most attractive places to live in Europe.
Under current Portugal’s Golden Visa Program, investors must follow the below-mentioned investment requirements to obtain Portugal’s Golden Visa. “Malta will be a leader in Europe offering a citizenship scheme with no strings attached and access to non EU high-net-worth individuals who seek a better way of life,” says Chris Pace, Director of realtors Chesterton Humberts in Malta. High-net-worth individuals from outside the European Union can now become Maltese citizens, thanks to a controversial law approved earlier this week by the Maltese Parliament. International sentiment is fast shifting towards restricting investment residency programmes, making NOW the best time to get your Plan B in place – before it’s too late. You can now obtain EU residency within 4 months for an investment from only €150,000.
Citizenship Of Maltaby Direct Investment
The taxation system in Malta is quite appealing to foreigners wanting to invest in this country. Plus, the tax minimization options can be implemented in any kind of company registered in Malta. Our immigration lawyers in Malta can tell you more about the requirements for entering this country.
In return, the citizen undertakes to abide by the laws and customs of the state. Citizenship units people from different backgrounds under a common identity. Any investor immigrating to Malta would need personal bank account in Malta and company bank account in Malta, we can also assist with offshore bank accounts. We have international experience in Citizenship by investment including Malta, helping clients from all over the world with best services. Backed by international Citizenship by investment experience and Malta`s legal requirements, we craft best solutions.
Housed in a sprawling, fortresslike 16th-century building once used as a hospital, the Malta citizenship program nods to the country’s multicultural past, punctuated over the years by invasion. The Phoenicians, Carthaginians, Romans, Byzantines, Fatimids, Normans, Sicilians, Spanish, French, a European lay religious order and the British all tried to conquer or rule Malta, and many succeeded. Maltese, the official language with English, looks and sounds Arabic, but its speakers are primarily Roman Catholics who pray to Allah, or God.
- With its efficient processing, rigorous due diligence, wide choice of investment options and the sheer physical attraction of the islands, the Antigua & Barbuda’s Citizenship-by-Investment Programme is fast becoming a jurisdiction of choice.
- Note that each application goes through a strict due diligence process, including detailed background checks.
- The economy is dependent on foreign trade, manufacturing , tourism and financial services.
Citizenship by investments is a unique strategy to safeguard your future prosperity and security. No matter what happens in your home country, you have Plan B and you know you can establish yourself as a citizen in another country with your family. If it is a high-quality European passport and citizenship you are after, and are able to fork out a larger sum compared to the more affordable Caribbean options mentioned above, then Malta is undoubtedly your best option.
While enhancing human capital on the island, this phenomenon is also attracting global market leaders, making the business market more lucrative. Yes, you and your family members will be EU citizens and have EU passport. That means you can freely move in the EU, and you may live and work and study in any EU country. On approval, you should make the donation and purchase or rent a property. You should make a contribution of €600,000 to the National Development and Social Fund.
You have to pass, language and civic test and evaluation of applications takes another 2-3 years. New regulations implemented from Jan 1, 2022 will make significant changes to GV program. Property investments in Lisbon/Porto/Algarve staying permit turkey will be removed for Golden visas. Financing option is also possible for bond or treasury securities investment. Turkish citizens still need visas to travel to Schengen Area, Canada or United Kingdom.
Malta offers access to one of the top 10 most powerful passports with the Maltese Individual Investor Program for citizenship. Find out more about becoming part of the international community of global citizens. The citizenship of Malta through the Individual Investor Program is obtained by the investor, his/her spouse, children under 26 years old and parents. Lyza is a native of Leyte who spent 10 years studying and working in Cebu before working for Two Monkeys Travel.
Unfortunately, without being born into such a situation, a second citizenship is hard to come by. We are real estate agents and investment immigration consultants who can help you secure residency and citizenship in several countries, including Spain, Malta, Cyprus, Turkey, Portugal and more. The main applicant and all adult applicants must have been legally resident in Malta, with proof of genuine links to Malta, for a minimum period of 36 months before the application for citizenship can be submitted. This is reduced to 12 months if the investor has chosen to pursue the expedited timeline.
The Maltese government requires applicants to make an investment of €350,000 or enter a property rental contract for a minimum of €16,000 in order to qualify for Malta citizenship. The citizenship applicants will also be required to provide a police certificate which will be submitted together with the application. In fact, it was once one of the countries offering the cheapest immigration investment program. Initially, the Prime Minister at the time, Seph Muscat had estimated that about 45 people would apply in the first year, resulting in 30m euros (£24m; $41m) in revenues. In 2014 Malta introduced its Individual Investor Program a program that targets the wealthy and offers Malta citizenship and residency to investors globally.
We can ensure you have credible legal advice and consultation, as the steps for your application can be complex and the correct selection of project imperative. Two-step application process with your residence permit issued within 60 days and citizenship applications processed from months/12-16 months depending on your chosen timeline. When ready you can move to the next stage of application or visit the country in question with our consultants and partners particularly where real estate investment or local attendance is required for the process. Malta offers citizenship to investors through a combination of government contribution, investment and real estate. La Vida offers a choice of several golden visa programmes for investment in residency and citizenship.
Nevertheless, such persons must not only satisfy those requirements under the GRP but must also satisfy the specific eligibility requirements of the IIP. Investors benefit from freedom of movement throughout the 28 EU states, allowing you to live, work and conduct business in any European country you choose. Since the procedure is rather lengthy and it may take up several months for its completion, then it would suitable if the Applicant submits his application and the necessary documentation as soon as possible. It is good practice that in order to reside in the Maltese Islands one is supposedly registered as a resident as the first step towards acquiring Maltese citizenship. There is no legal provision that imposes knowledge of the Maltese language on the part of Applicants.