Many people choose Malta to be their home and also on their second passport. This country has a wonderful climate and nature, making it a perfect place to live and raise children. And considering it is a member of the EU, its passport opens lots of work, travel, and business possibilities. Malta’s citizenship by property investment program gives wealthy people a possibility to grant citizenship to them and their families after residing in the country from 12 to 36 months and making a hefty contribution to its economy. Find out how the program functions, what stages you will have to go through, and how much money it takes to become a Maltese citizen.
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Old and New Malta Citizenship by Investment Program
Current CBI in Malta is not the first of its sort for the country. The previous one was closed when it reached a planned limit of 1,800 participants and was replaced by a new one in November 2020.
The new Maltese citizenship for property investment program presents the procedure of gaining a passport as naturalization for exceptional services, and that is exactly how it works. Its participants are granted a Certificate of Naturalisation after they buy property in Malta and make a significant input into the development of the county’s economy.
The new program’s limit is set at 1,500 investment citizens with a maximum of 400 applications per year.
Malta Citizenship Requirements
Applicants for Malta investment citizenship must comply with several criteria and make three mandatory investments. Here are the requirements:
- Contribution to the National Development and Social Fund of €600,000 for residents of 36 months and €750,000 for residents of 12 months.
- Buying a residential property worth €700,000 or renting one for at least €16,000 a year.
- Making a €10,000 donation to the charitable organization.
- Reach the age of 18 years.
- Have no major health issues.
- Pass due diligence check for the history of criminal activity or destructive behavior.
- Have a valid residence card.
As for the relatives you can include in the application when you invest in Malta for citizenship, the list looks like this:
- Spouse
- Minor children, including those from previous marriages on both sides
- Unmarried, financially dependant children under 29
- Parents and grandparents over 55
If you want to find out more about how the number of relatives included affects the required minimum investment, you can find it in this article about Malta citizenship by Immigrant Invest: https://immigrantinvest.com/malta-citizenship-by-investment-en/.
Residency requirements state that to become eligible for citizenship application, a person and dependants must first receive a residence permit and live in the country for a certain time. The longer they wait, the less will be the required investment. Those willing to make things quick after 12 months of residence will need to invest €750,000. Those who have lived in the country for 36 months or longer get a reduced investment amount — €600,000.
Malta Citizenship Benefits
Now that you know how to get Malta citizenship by investment, it is time to find out what you will gain from it. When we consulted with Victoria Atanasova, an expert from Immigrant Invest, she pointed out that the main factor why people apply for Maltese passports is becoming an EU citizen. There are numerous opportunities that it brings in terms of life quality, education, and business. Malta citizens can travel without a visa to over 160 countries around the world. But in the EU, they can also work, live, buy property, and open businesses. Maltese citizens can study anywhere across Europe and use free healthcare.
Apart from that, Malta is a wonderful place to live thanks to its mild climate and good ecology. It is safe to live in and has a stable economy thanks to tourism and a favorable investment climate.
Read also: How You Can Increase Your Home’s Property Value Before Selling