Malta is a good place to invest in. The Republic of Malta is known as one of the thriving economies in the European Union. It has a stable political climate. It enjoys a bipartisan political scenery which agrees on national issues that are important economically. Malta is a member of the European Union and it is also a part of the Schengen zone since 2007. Malta is also a member of the Commonwealth of Nations. This means that all the Maltese citizens are also citizens of the Commonwealth which means a lot of benefits in the United Kingdom.

Citizenship by Investment

The Malta Individual Investment Program (MIIP) was launched in November 2013. It’s the first citizenship program that has been approved by the European Union. The citizenship that is granted through this program is valid for lifetime. It can also be transferred to future generations by descent. 

The MIIP has a lot of benefits. First of all, it offers mobility. This allows for visa-free travel to 166 countries which include USA, EU, and Canada. It also offers the right to work, live, and study in any of the 28 EU countries which include Iceland, Switzerland, and Norway. Malta is safe, neutral, and a politically stable country. Its people are known to be friendly. It is a country with a European lifestyle but with a Mediterranean quality of life. 

Conditions of Eligibility

There are various options offered by the MIIP. The applicant and the families who are applying for citizenship in Malta are required to make a significant contribution to the National Development and Social Fund which has been launched by the government and run by a board of trustees. The following are the specific contributions of each family member which must be made during the four months after the Letter of Approval for Malta IIP has been received. 

• Main applicant- €650,000
• Spouse-€25,000
• Children who are minors-€25,000 each
• Children who are unmarried from 18 to 26 years old-€50,000 each
• Parents and grandparents who are dependent to the applicant-€50,000 each 
• Adult children who are mentally or physically challenged-€50,000 each.

Applicants may also invest a minimum of €150,000 in government approved financial options such as bonds, debentures, and stocks. Such investments must be kept for five years minimum.

An applicant must also maintain an immovable residence in the country for at least 5 years. This can be made possible by buying a property for at least €350,000. It can also be done by renting a property for five years with a minimum annual rent of €16,000. The applicant must show proof of owning or leasing a property on the islands four months after the receipt of a citizenship Malta letter of approval. 

The applicant must also be of clean criminal record and must be in good health and covered by an international health insurance policy. Applicants are provided an eResidence card which signifies the commencement of their residency in the country. Twelve months after the applicant has established residency in Malta, applicants who maintained residence in the country will be granted citizenship. 

Citizenship approval takes 4 months processing. Fast track residence cards can be approved 1 to 3 weeks providing Schengen mobility for 18 months. It takes 12 months to issue passport starting from the date of the applicant’s initial residency.