Malta’s Golden Passport, or citizenship by investment, program offers wealthy foreigners the opportunity to become citizens of the small island nation in exchange for a substantial investment in the economy. The EU member country is distinguished by a favorable political climate, a reliable banking system, and high rates of development in all spheres of life.
The procedure for considering investors’ applications for acquiring Maltese citizenship is one of the most effective in Europe; only foreigners with an impeccable reputation and stable financial condition receive a positive decision. In 2022, you can become the owner of a Maltese passport after 3 years for a direct investment of 690 thousand €, the costs relate to the main applicant. It is possible to acquire Maltese citizenship in a shorter period of time, it all depends on the size of the deposits. The total investment amount is calculated based on the number of participants in the application.
Benefits of the program
What does the Malta Citizenship by Investment program give to its participants:Citizenship of the Republic of Malta for investments from 690,000 euros.The right of family relocation – parents, children, grandparents.A passport respected around the world.More than 180 visa-free countries for travel.Tax residency with low rates.Possibility of selling assets after 5 years.Accommodation in Malta without additional obligations.Inheritance of citizenship by children and grandchildren.
About the program
The procedure for issuing Maltese passports for investment was launched in 2014, based on amendments to the Citizenship Law of the Republic introduced in November 2013. A citizen of any country in the world can become naturalized in Malta by making a substantial contribution to the state’s economy; dual citizenship is not prohibited.
A participant in the Malta Individual Investor Program must complete 3 investment options:
- Make a contribution to the National Development Fund.
- Contribute charitable funds to a non-governmental organization.
- Buy or rent property in Malta.
All three conditions are required; the time frame for obtaining a passport will depend on the amount of the contribution. The requirement of permanent residence in the republic does not apply to the investor; real estate can be sold after 5 years.
Since the opening of the program, Malta’s budget has received more than €1.3 billion in foreign investment. The island’s government initially set a quota of 1,800 applications, and when the limit was reached in June 2020, applications had to be suspended. However, the Maltese authorities do not intend to close off a stable source of funding.
The terms and conditions of the citizenship by investment program have undergone some changes, but it still works. For Russians and citizens of other countries of the former CIS who own large amounts of capital, investing in Malta is an excellent chance for naturalization in Europe.
Another argument in favor is the full approval of the Maltese investment program by the European Commission, which closed the Golden Visas of some other European powers. The Malta Individual Investor Program carries out strict integrity checks on candidates.
It is impossible to obtain a Maltese passport even if there is a suspicion of corruption in the income, not to mention the criminal past in the applicant’s history. Only after due diligence – a legal examination for reliability – is the candidate recommended to continue or stop the immigration process.
Investment threshold
What are the threshold investment amounts for a single applicant:
- Malta Public Development Fund – non-refundable payment:
- 600 thousand € (passport after 3 years);
- 750 thousand € (citizenship after 1 year).
- Real estate – with sale or termination of the rental agreement after 5 years:
- 700 thousand € for the purchase of housing;
- 16 thousand € per year – lease option for 5 years.
- Charitable investments: 10 thousand €.
The minimum investment amount is €690 thousand (when renting real estate), the maximum is €1.46 million (when purchasing living space).
For each additional family member participating in the application, it is necessary to contribute another 50 thousand € under the first investment option. Then the investment size will be at a minimum:
- investor + spouse – 740 thousand €;
- investor + spouse + child – 790 thousand €;
- spouses + two children – 840 thousand €, etc.
Additional expenses
- Eligibility Assessment:
- main applicant – 15 thousand €;
- each additional relative – 10 thousand €.
- Administrative fees:
- investor – 6 thousand €;
- family member – 2 thousand €.
- Medical insurance: 500 € for each participant in the application.
- Registration of a resident card:
- main applicant – 5 thousand €;
- family member – 1 thousand €.
- Payment for legal services: from 50 to 100 thousand €, depending on the number of people in the application and the fees of the accredited agency.
Requirements for applicants
In addition to the main applicant, the right to Maltese citizenship by investment is granted to:
- official spouses or civil partners;
- children under 26 years of age (unmarried);
- parents of any spouse over 55 years of age;
- grandparents of spouses.
Adult children, parents and grandparents must be financially dependent on the main investor.Requirements for the main applicant:
- age from 18 years;
- no criminal record;
- passed due diligence control;
- not a participant in scandalous situations;
- not owning a bankrupt enterprise;
- without refusal of visas to Malta or a visa-free country for it.
Each member of the investor’s family must take out a medical insurance policy and confirm sufficient financial security (for those dependent on the investor).
Required documents
Package of papers for the main investor and other participants in the application:
- application form;
- investor financial solvency form;
- an extract from the investor’s bank account (for the last 3 months) on financial security;
- agreement for the purchase or lease of real estate;
- foreign passports of all family members;
- photos of each, taken no later than 6 months;
- medical insurance policy for each participant;
- health certificates from a licensed institution for all;
- certificates of good conduct (for applicants over 12 years old);
- evidence of financial dependence of family members (certificate from university, copies of money transfers, etc.);
- marriage certificates of spouses and birth of children;
- birth certificates of the applicant or spouse (if their parents are in the application).
All documents are translated into English and notarized.
Rights and obligations
What rights do those who have acquired Maltese citizenship by investment have:
- Residence in Malta without the need to permanently reside on its territory.
- Unlimited stay, study and work in the EU, Switzerland and the UK.
- Visa-free travel to 186 countries around the world, including Canada, USA, Japan and Australia.
- Use of high-quality medical services.
- European education for children.
- The right to choose tax residence with no taxes on capital gains, inheritance and gifts.
- Transfer of citizenship by inheritance, regardless of the country in which the descendants live.
- Keeping your first passport.
Responsibilities of a foreign investor:
- Do not rent or sell the purchased property for 5 years.
- Live a respectable life and do not violate the laws of Malta.
Stages of obtaining citizenship
List of steps to obtain a Maltese passport:
Choosing an accredited agency
all intermediary companies work with the Maltese agency Identity Malta.
Preliminary due diligence check
carried out by the agency to minimize the risk of failure. Criminal record or EU sanctions – negative verdict. (1 month)
Police Clearance
collecting information about the investor through Interpol and Europol (performed by the Maltese police). (2 weeks)
Submitting an application for a residence permit
Before citizenship you must live in Malta for 1 or 3 years as a resident. It is enough to have a residence address in the republic and live in your homeland. But to take biometrics you will have to visit Malta. (2-3 weeks)
Eligibility Assessment check by Maltese services
At this stage, the main package of documents is submitted. (4-5 months)
Application for Maltese citizenship
one or three years from the date of obtaining a residence permit. The reply is in process. (3-6 weeks)
Fulfillment of investment conditions
confirmation of investment for all three options. (up to 4 months).
Obtaining a Maltese passport
repeated biometrics and oath taking in Malta. Finding a document. (up to 2 months)