Malta

MALTA

In 2014, Malta became the latest European nation to offer a Citizenship by Investment program, known as the Malta Golden Passport, also referred to as an Individual Investor Program (IIP). This program is capped to a maximum of 1,800 applicants and primarily caters to ultra-high net-worth individuals wishing to obtain full rights of citizenship in to an EU country.

Malta At-A-Glance

Malta is a densely-populated country, with two official languages – Maltese and English. Featuring a strong economy, Malta also has a high standard of living and safe environment.

Malta is a member of the European Union (EU) and of the Eurozone, as well as a party to the Schengen Agreement and member of the United Nations.

Citizenship Programs

The Maltese Citizenship program has some of the world’s strictest due diligence standards and vetting of applicants in order to ensure only cream-of-the-crop applicants are admitted. Under the Individual Investor Program (IIP), investors must make all 3 of the following investments:

The National Development and Social Fund: Applicants must make a minimum contribution of €650,000, plus a €25,000 contribution for each spouse and each minor child and a €50,000 contribution for each dependent child aged between 18 and 26 and each dependent parent above 55 years of age.

Real Estate: Applicants must also commit to retaining a residence in Malta for a period of at least five years, either through the purchase of a property, for which the minimum value must exceed €350,000, or through the leasing of a property, for which the minimum annual rent must exceed €16,000.

Government-Approved Financial Instruments:  Applicants must make an investment of €150,000 in government-approved financial instruments, such as bonds or stocks, which must be maintained for a minimum period of 5 years.

Fees and Costs

In addition to the 3 investments mentioned above, every applicant, including spouses and dependents, must pay the following due diligence fees

€7,500 for the main applicant.
€5,000 for a spouse.
€5,000 for each dependent aged 18 – 25 years and each dependent aged 55 years and over.
€3,000 for each dependent aged 13 – 18 years.

Additional fees applicable range between €60,000 and €80,000 to cover legal costs associated with the lengthy processing of applications by an accredited law firm.

Benefits

  • Maltese citizens enjoy the right live, work and study in any of the 28 EU countries and to travel visa-free to 166 countries, including the United States and Canada.
  • Citizens of Malta gain access to excellent healthcare and education. Citizenship is for life and passes down to your future generations. You can even maintain dual citizenship.
  • Malta is an attractive place to live or to own a second home, and is strategically located, with excellent air links.

Taxation

  • There is low income tax, low capital gains tax and no inheritance tax. Citizens of Malta who are not domiciled in Malta are taxable on a remittance basis only.

Application Process

The process of applying for citizenship is rigorous and requires careful preparation in order to gather all the information needed. Typically, it can take up to 1 year from the time the application is submitted to the Government to obtain Maltese Citizenship. The application is prepared and is formally submitted to Identity Malta along with the essential supporting documents. The applicant is assigned a client reference number:

Step 1

Schengen Residence Status is issued on an application for 1 year prior to issuance of citizenship.

Step 2

In the first year, Malta requires a visit of 2-3 weeks in order to complete various formalities with the government authorities, including an Oath of Allegiance and provision of bio-metrics for passports.

Step 3

About 12 months after the application, the Maltese government will issue a Certificate of Naturalization, which is a document of proof that is essential for acquiring Maltese citizenship.

Step 4

Applicants need to apply for a Maltese passport in 13th month, attaching the naturalization certificate with the application.

Step 5

The Maltese Government will perform a detailed due diligence check, and, on completion, a decision to either grant citizenship, decline citizenship or request further documentation from the applicant will be made. A four-tier due diligence process is carried out directly by the government to assess applicants and to process and approve applications at various stages.

Step 6

Applicants must travel to Malta to apply for legal residence and to acquire a residency card.

Step 7

An approval-in-principal letter will be issued by the government, if successful. This process takes approximately 4 months.

Step 8

A contribution to the National Development and Social Fund is made. The payment of the remaining balance on the contribution must be paid within 25 days of the final approval.

Step 9

Within 4 months, you must show a copy of your property contract (lease or purchase), confirmation of acquisition of bonds/stocks, and proof that suitable medical coverage is in place and that property purchase funds and taxes have been transferred.

Step 10

Applicants must demonstrate a “genuine link” with the island. The genuine link test ensures the main applicant and dependents are able to demonstrate a genuine connection with the jurisdiction in their personal, social, and commercial activities.

Step 11

The Maltese government will issue the Certificate of Naturalization.

Documents Required:

  • Copy of passport (certified copies).
  • Birth certificate*.
  • Police clearance certificate (all countries where you lived for more than 10 years. * FBI clearance for the US must be less than 6 months old.)*.
  • Marriage certificate (translated to English)*.
  • Business connection documents.
  • Medical tests with HIV clearance (must be less than 3 months old).
  • References from bankers and lawyers.
  • Global health insurance coverage of 50,000 Euros.
  • Proof of your source of income (bank statements).
  • Health certificate from a registered medical practitioner.
  • Proof of current residence (utility bills).
  • Personal details, family information, education information and employment information.
  • Tax statements from the country of origin.

*All original documents must have apostille seal.

Our experienced consultants and immigration lawyers will manage the entire application process with document preparation and validation and all government formalities. We partner with the best real estate developers and agents and will arrange for the client to view the properties and get the best possible investment opportunities. Please contact us and our team will be delighted to assist you.

REGISTER




PROPERTIES


CITIZENSHIP PROGRAM

The Maltese Citizenship program has some of the world’s strictest due diligence standards and vetting of applicants in order to ensure that only highly respectable applicants will be admitted. Maltese Citizens can enjoy the right live, work and study in any of the 28 EU countries, including Switzerland.

Under the Individual Investor Program (IIP), investors must make all 3 of the following investments:

1.The National Development and Social Fund

Applicants must make a minimum contribution of €650,000, plus a €25,000 contribution for each spouse and each minor child and a €50,000 contribution for each dependent child aged between 18 and 26 and each dependent parent above 55 years of age.

2. Real Estate,

Applicants must also commit to retaining a residence in Malta for a period of at least five years, either through the purchase of a property, for which the minimum value must exceed €350,000, or through the leasing of a property, for which the minimum annual rent must exceed €16,000.

3. Government-Approved Financial Instruments

Applicants must make an investment of €150,000 in government-approved financial instruments, such as bonds or stocks, which must be maintained for a minimum period of 5 years.

Fees and Costs:

In addition to the 3 investments mentioned above, every applicant, including spouses and dependents, must pay the following due diligence fees:

  • €7,500 for the main applicant.
  • €5,000 for a spouse.
  • €5,000 for each dependent aged 18 – 25 years and each dependent aged 55 years and over.
  • €3,000 for each dependent aged 13 – 18 years.

Schengen Residence status for 1 year prior to issue of citizenship is issued on application.

In the first year, Malta requires a visit of a minimum of only 2-3 weeks’ time in order to complete various formalities with the government authorities.

The applicant and dependents must visit Malta for the Oath of Allegiance and in order to provide bio-metrics for the passports.

About 12 months after the application, the Maltese government will issue a ‘Certificate of Naturalization’, a document of proof which is essential for acquiring Maltese citizenship.

They have to apply for a Maltese passport in 13th month, attaching the naturalization certificate.

Additional Fees:

These range between €60,000 and €80,000 and are for legal costs associated with the lengthy processing of applications by an accredited law firm.

BENEFITS

  • Citizenship of a well-respected EU country.
  • The right to live, work and study in any of the 28 EU countries and Switzerland.
  • Irrevocable citizenship for your lifetime and your future generations’ lifetimes.
  • Dual Citizenship.
  • Visa-Free travel to 166 countries, including the including the United States, Canada, the European Union and the Schengen Area.
  • Access to state of the art healthcare and education.
  • Stable political climate in a highly-respected country.
  • Highly-respected jurisdiction for incorporating low-tax companies with low income tax, low capital gains tax and no inheritance tax. Citizens of Malta who are not domiciled in Malta are taxable on a remittance basis only.
  • Excellent banking centre with several major international banks.
  • Malta is an attractive place to live or to own a second home, and is strategically located, with excellent air links.

TAXATION

Taxes are on the basis of domicile and residence, and not citizenship. Domicile or residence means a stay of at least 183 days in any one year in Malta. Tax for non-residents is due only on income and capital gains generated in Malta. 12% Capital Gains Tax (CGT) is chargeable on a main-residence property which is sold within 3 years. However, if retained for 5 years, there is no taxation on the sale. There are no inheritance or death taxes and no net worth or wealth taxes in Malta.

APPLICATION PROCESS

The process of applying for citizenship is rigorous and requires careful preparation in order to gather all the information needed. Typically, it can take up to 1 year from the time the application is submitted to the Government to obtain Maltese Citizenship.

  • The application is prepared and is formally submitted to Identity Malta along with the essential supporting documents. The applicant is assigned a client reference number.
  • The Maltese Government will perform a detailed due diligence check, and, on completion, a decision to either grant citizenship, decline citizenship or request further documentation from the applicant will be made. A four-tier due diligence process is carried out directly by the government to assess applicants and to process and approve applications at various stages.
  • The applicants must travel to Malta to apply for legal residence and to acquire a residency card.
  • An approval-in-principal letter will be issued by the government if successful. This takes approximately 4 months.
  • Contribution to the National Development and Social Fund is made.
  • Identity Malta requests the payment of the remaining balance on of the contribution. This must be paid with 25 days of the final approval.
  • Within 4 months, you must show a copy of your property contract (lease or purchase), confirmation of acquisition of bonds/stocks, and proof that suitable medical coverage is in place and that the Property purchase funds and taxes have been transferred.
  • Applicants must demonstrate a “genuine link” with the island. This is important. The genuine link test ensures that the main and dependent applicants are able to demonstrate a genuine connection with the jurisdiction in their personal, social, and commercial activities.
  • The applicant and dependents must visit Malta for the Oath of Allegiance and in order to provide bio-metrics for the passports. The Maltese Government will issue the Certificate of naturalization.

Documents Required:

  • Copy of passport (certified copies).
  • Birth certificate*.
  • Police clearance certificate (all countries where you lived for more than 10 years. FBI clearance for the US must be less than 6 months old.)*.
  • Marriage certificate (translated to English)*.
  • Business connection documents.
  • Medical tests with HIV clearance (must be less than 3 months old).
  • References from bankers and lawyers.
  • Global health insurance coverage of 50,000 euros.
  • Proof of your source of income (bank statements).
  • Health certificate from a registered medical practitioner.
  • Proof of current residence (utility bills).
  • Personal details, family information, education information and employment information.
  • Tax statements from the country of origin.

*All original documents must have apostille seal.

Our experienced consultants and immigration lawyers will manage the entire application process with document preparation and validation and all government formalities. We partner with the best real estate developers and agents and will arrange for the client to view the properties and get the best possible investment opportunities. Please contact us and our team will be delighted to assist you.

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