The offer to invest in the economy and get citizenship (or residence permit) for it is quite attractive. This way of naturalization does not take too much time, which is advantageous for wealthy immigrants. It is enough to apply for participation in order to use the official residence permit after six months.
Today there are several programs available, which differ in terms and requirements. The country creates new opportunities for entrepreneurs for investors to pay attention to the offer. Popularity came to the Malta citizenship program. An applicant who has been living on the island for 1–3 years will be able to make sure that the offer is suitable for him.
It is not difficult to find information about the program, but it is more difficult to understand the requirements and peculiarities. We needed the advice of Immigrant Invest specialist Vladlena Baranova, who shared her experience and opinion on the matter.
A few facts about naturalization in the country for exceptional merits will help to make a decision in favor of Maltese offer:
- The current version of the program is already the second option for foreigners. The first offer was closed in 2020 because the threshold of applications was reached.
- The amount of the investment depends on the option chosen and the place of residence. Participants of the offer reduce the cost of citizenship by residing permanently on the island. This makes the passport more attractive.
- Applicants may include close relatives in the application. There are no restrictions on the total number of applicants. Dependents of the investor must meet a few simple requirements (age, kinship).
The current Malta pr will be closed when the number of applications exceeds the 1500 mark. Whether the program will be extended in the future is unknown, so it is worth analyzing the offer now.
Requirements and Eligibility for Investor
Accredited agents assist in the application process. They provide services for preparing the required package of papers and making the required investment. You must meet several conditions, to qualify for citizenship of Malta:
- reach the age of majority;
- confirm the legality of sources of income;
- undergo a medical examination.
The investment amount is from 600,000 euros. Investors can make a single payment or diversify their portfolio. Additional costs include a processing fee and a mandatory charitable contribution.
Benefits of Maltese Passport
The obvious advantages of Malta permanent residency are visa-free regime with more than 180 countries of the world, quality of life and medical care. The island’s mild climate, diverse nature and trouble-free travel will also be attractive for investors.
A separate interest is the system of tax payment. Immigrants have access to favorable conditions, which include:
- availability of options for tax savings;
- exemption from double taxation;
- absence of wealth and dividend tax.
This category of Maltese passport benefits is less visible, but looks more convincing than the other benefits. It is possible to use the simplified system without a second passport if you have a residence permit.
Process of getting Malta citizenship
The government will consider applications from foreigners as long as the requirements are met. It is worth hiring an accredited agent to make it easier to learn the rules of obtaining. Often the specialist works with lawyers, so naturalization will not cause any inconvenience.
The investor prepares documents, the list of which is dictated by Malta citizenship requirements. Usually it is necessary to confirm trustworthiness, solvency and law-abidingness. If untruthful facts are found during the check, the application is rejected.
A decision on the application is made if several conditions are met:
- making a non-refundable contribution;
- donation to a charitable foundation;
- purchase (lease) of real estate with the right of ownership for 5 years.
Processing of the application includes several stages. The first check allows you to make sure that the information in the application form is true. At the next stage, lawyers check legal papers and absence of criminal record.
The offer of investing in Malta lures with advantages and opportunities for scaling up the business. Foreigners who fulfill the conditions and become eligible enjoy permanent residency immediately after the application is approved. This is how the government supports immigrants.
Experts help to apply for the program. Lawyers prepare the paperwork and check the accuracy of the information. Compliance with other rules is checked by an experienced specialist. This simplifies the procedure and guarantees a positive decision on the application.