Malta Citizenship Scheme – Details of Malta’s Citizenship by Investment Programme

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Back in November of 2013, Malta published its new law regarding proposal to provide citizenship of the country on investment. According to this law, any person applying for citizenship must invest a minimum sum of 150,000 Euros in this country. The scheme is also called, as “Individual Investor Programme”.

It has been a year and half since this law was passed. While originally there was a cap on number of individuals, who will be allowed to apply through these scheme, on advice of European Union they are considering lifting this cap once it is reached.

Investment Details

Individuals over 18 years of age can apply for citizenship under this programme. Dependents of these persons can be granted citizenship along with them.

Following are details of investment money and its expenditure:-

  • This investment could take form of stocks, vehicles etc. All such property needs to be registered with ‘Identity Malta’. (Identity Malta is govt. appointed organization that takes care of immigration in Malta). You must maintain all such investment for a minimum period of 5 years.
  • You, as well as your dependants, must have Global Health Insurance and must be capable of maintaining it for near future.
  • If you purchase a residency, it must have a minimum value of 350,000 Euros. If you rent an apartment, it must have a minimum rent of 16000 Euros and you must rent it for at least 5 years. This is required for the main applicant only.
  • 70% following donations need to be made to National Development and Social Fund and 30% to Consolidated Fund of Malta:-
  1. 650,000 Euros of which 10,000 is non-refundable. This is for main applicant.
  2. Spouse and every child below the age of 18 years: 25,000 Euros each
  3. Unmarried children between 18 and 26 years of age: 50,000 Euros each

Dependent parents above 55 years of age must pay 50,000 Euros each.

Application Process

There are agencies authorised by Identity Malta to process immigration documents under this scheme. Initially only one company, Henley and Partners, were appointed to process these documents. However, now there are numerous companies that have been licensed for same. These agents undergo a period of training for this process. After this period of training, they are required to take and pass an exam as well.

You will have to wait for a minimum period of 6 months before your application is accepted. For those involving more background research this period may however, extend up to 2 years.

Applicants undergo a well in place, vetting process. This is meant to ensure that only most desirable individuals are granted citizenship under this programme. For a successful applicant, it is a rule that you must stay in Malta for at least 12 months. However, this period may have short breaks in between.

Overall, it would appear that this scheme has been very useful to Malta’s economy and for individuals, who intend to move to Malta. In addition, look what I found! Seeing Malta’s success, even other European countries like Cyprus and Croatia have come forward with similar schemes.

Author’s Bio:

James Patrick has written this article. They offer some of the best investment programs for becoming citizens of Malta. You will surely be amazed when you look what I found on their website.

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