Malta Citizenship By Investment Benefits And Requirements

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Malta Citizenship By Investment Benefits And Requirements

Three islands make up the Republic of Malta, which is located in the middle of the Mediterranean Sea about 80 kilometers off the southern coast of Sicily, Italy.

Typically, the weather is Mediterranean, with little rain falling from March to October. With a population of over 400,000, Maltese and English are the official languages, although Italian is also widely spoken.

Political landscape

Malta became a republic in 1973 after gaining independence from Great Britain in 1964. This nation respects the rule of law and is democratic.

Malta is a part of several important international organizations, such as the International Monetary Fund, the European Union, the Council of Europe, and the Schengen Area.

Residing in Malta

Malta possesses a strong infrastructure base. All other significant public services, including banking, telecommunications, postal, and medical services, are effective and of the highest caliber.

Many other European airlines fly to Malta, and Air Malta itself operates 35 flight routes, most of which are within Europe and the Mediterranean region. Additionally, there’s a regular sea link with Italy.

The population’s English-speaking background facilitates communication and integration. Laws are written in both Maltese and English, and all official documentation is written in English.

Commercial and business interactions are also conducted in English. High-quality private English-speaking schools are also available; children of permanent residents are welcome to enroll in the University of Malta.

Additionally, there are numerous private hospitals that provide top-notch healthcare services. According to the World Health Organization, Malta has the fifth-best medical services and facilities in the world.

Although Malta’s high standard of living is on par with that of other Mediterranean European nations, living expenses there are typically lower than those of the rest of the continent. Therefore, one can lead a comfortable life on a lower income.

It’s hard to resist the allure of this tiny island because life there, especially in Gozo, is slower paced and more laid back than it is in the rest of Europe. There is very little drug abuse and very little crime.

There is general care and awareness from locals towards children and elderly people, especially when it comes to foreign nationals, and children can be raised safely.

The majority of foreign residents in Malta are pleasantly surprised by the level of assistance and attention they receive from the locals.

Especially in the spring and fall, people from colder parts of the world are drawn to the warm climate.

Doing business in Malta

The Maltese government has been actively pursuing foreign capital attraction through the provision of alluring incentives targeted at foreign investors and entrepreneurs in recent times.

Malta has grown over the past fifteen years into a contemporary financial hub and one of the most significant jurisdictions in southern Europe.

Malta has an educated, driven, and English-speaking labor force. Malta offers low factory rents and low interest loans as well as other incentives to foreign individuals or businesses who establish themselves there.

Its strategic location, strong international trade connections, and high standard of living further make it one of the Mediterranean’s most desirable business locations.

Malta’s legal system

Maltese law is codified, despite being a former British dependency, and there is no tradition of British “common law.” In general, there are two primary branches of law: criminal law and civil law, each with its own set of traditions.

The Napoleonic Code, which was derived from earlier Roman legal theories, served as the foundation for Maltese civil law.

As a result, Maltese law and French and Italian law are extremely similar, especially in the more traditional areas of civil law, such as those pertaining to property, contracts, obligations, and so forth.

When interpreting Maltese law, references to French and Italian writers are frequently found.

Over the past ten years, many new laws have been passed in the more recent legal domains, especially in the areas of environmental, financial, company, and fiscal legislation.

These laws are typically adapted to Maltese requirements by borrowing from other nations, particularly Britain. Malta is currently updating its legal system to conform to EU legislation, of which Malta is a member.

Malta offers many advantages including:

  • Excellent banking center with a presence of major international banks
  • Ideal location in the center of the Mediterranean
  • Efficient access by sea and the international airport of Malta
  • English-speaking environment
  • High standard of living

Benefits of Maltese citizenship

  • Visa-free or visa-on-arrival travel to over 180 destinations
  • Access to a transparent and reputable financial centre and a prime jurisdiction for international business
  • Opportunity to include a spouse, children, parents, and grandparents in the main application
  • World’s strictest due diligence standards and vetting of applicants
  • An attractive place to live or own a second home in, strategically located with excellent air links

Requirements of Maltese citizenship by naturalization

The application for Malta Citizenship by Naturalisation for Exceptional Services by Direct Investment is thoroughly checked and assessed and undergoes a four-tier due diligence process. To qualify, the following requirements must be fulfilled:

  • A minimum age of 18 years for all applicants
  • A contribution of at least EUR 600,000 for a minimum residence period of 36 months or EUR 750,000 for a minimum of 12 months
  • The purchase of a residential property in Malta of at least EUR 700,000, which must be held for five years. Alternatively, the lease of a residential property with a rental value of at least EUR 16,000 per annum, also held for five years. Please note that the property cannot be sublet during this five-year period. A 36-month (or 18-month, by exception) lease agreement or property purchase is required during the residence period
  • A donation of at least EUR 10,000 to a registered sport, cultural, scientific, philanthropic, animal welfare, or artistic non-governmental organization or society, as approved by the Community Malta Agency
  • Legal residence of Malta for at least 36 months (or 12 months, by exception), which includes the lease of a residential property with a rental value of at least EUR 16,000 per annum, held for that same period. Applicants require a valid residence card in order to apply for citizenship

Procedures And Timeframe

Applications must be submitted using the required forms, and they must be accompanied by the necessary paperwork and fees. Thorough due diligence investigations are performed, and applications that are found to contain inaccurate or missing information will be rejected.

The application for a residency permit will be filed if the Community Malta Agency’s Tier 1 due diligence review is successful.

Once residency has been established, the applicant will submit an eligibility application, and the relevant Maltese minister will review it and determine whether the applicant is eligible to apply for citizenship after further due diligence has been completed (tiers 2, 3, and 4).

Following 36 months of residency (or 12 months in the case of an exception), a citizenship application will be submitted to the Community Malta Agency if approved.

Following the minister’s decision regarding the applicant’s eligibility for Maltese citizenship, the successful candidate will need to meet the requirements for extraordinary investment, donation, and property.

The candidate will then receive a Maltese certificate of naturalization and be invited to take the oath of allegiance in Malta.

For a period of five years, the Community Malta Agency will carry out ongoing surveillance.

Dual citizenship

There are no restrictions on dual citizenship in Malta.

Benefits of Maltese residence by investment

  • Residence in an EU country and visa-free access across Europe’s Schengen Area for 90 days out of a 180-day period
  • Right to reside indefinitely in Malta
  • Investment required only for first five years
  • No residence requirement
  • Family members included

Requirements of the Malta Permanent Residence Programme

The main applicant must be at least 18 years of age to qualify and must provide an affidavit declaring that from the date of the application, they have in their possession capital of no less than EUR 500,000 (EUR 150,000 of which should be in financial assets). The following application requirements must be met to qualify for the program:

  • A property purchase of EUR 350,000 (EUR 300,000 in South Malta or Gozo), or a property lease of EUR 12,000 per annum (EUR 10,000 in South Malta or Gozo) for a minimum of five years
  • A contribution of EUR 28,000 to the Maltese economy if the residential property is purchased, or EUR 58,000 if the property is leased
  • A donation to a non-governmental organization of EUR 2,000
  • A non-refundable administration fee of EUR 40,000

Procedures and duration of residency for foreign investors in Malta

The Malta Permanent Residence Programme has reasonable and simple application requirements and procedures. The government office in charge of applications, the Residency Malta Agency, receives the application.

Successful applicants will be required to complete the qualifying investments after undergoing rigorous due diligence checks, following which they will be granted a residence permit.

Successful applicants will receive a Maltese residence certificate from Residency Malta Agency, which serves as a permit.