Following an an amendment passed in November 2020 to the Maltese Citizenship Act Chapter 188 of the Laws of Malta (S.L. 188.05), the Maltese government has formulated an investment programme aimed at high-net-worth individuals, investors and entrepreneurs. This allows applicants (and their families) who contribute to the economic growth of Malta, to hold a Maltese passport and enjoy all the benefits of being a Maltese national, subject to making the necessary investment and complying with the specific conditions.
The following persons are eligible to apply under the Maltese Citizenship by Investment Programme:
- Main applicant and spouse i.e. husband and wife.
- Children up to and including the age of 17.
- Unmarried, financially dependent, adult children between the ages of 18 to 28, largely supported by the main applicant.
- Parents and grandparents of the main applicant and of the main applicant’s spouse aged 55 and over, and largely supported by the main applicant.
All applicants (with the exception of minor children under 16 years of age) will need to be in possession of a clean police (criminal record) certificate from the country or countries of citizenship and from each country he/she has resided in for a minimal cumulative period of 6 months in the last 10 years. It must have been issued within the 6 months preceding the application and must be original.
Main features of being a Maltese Citizen:
- Attractive Tax System
- Malta is an attractive financial centre due to its highly favourable tax system and strategic location at the crossroads of three continents – Europe, Africa and Asia. The Maltese taxation system is consistently voted by EU tax professionals as being one of the most attractive in Europe.
- Non-domiciled individuals are allowed to taxation on remittance basis.
- High Standard of Living
- Malta offers political stability, one of the lowest crime rates within the EU, and a high standard of living with access to reputable state and private schools, and medical facilities.
- Visa Free Travel
- No visa required for travel within the EU or the Schengen area.
- No visa required for travel to over 184 countries worldwide including USA and Canada.
- Dual Citizenship
- Malta allows its citizens to hold dual citizenship.
Malta CBI - Investment Options:
For an individual to apply for a Maltese citizenship, a period of Maltese residency has to precede. Based on the period of time one wishes to hold the Maltese residency before applying for citizenship, the 2 following options exist:
Option 1 - Standard Procedure:
36 months residency + Contribution of €600,000 + €50,000 for each additional dependant
Option 2 - Expedited Procedure:
12 months residency + Contribution of €750,000 + €50,000 for each additional dependant
Under expedited procedure, a prospective applicant has to be a Maltese resident for 12 months before applying for citizenship. Contribution amounts to €750,000 for the Main Applicant and €50,000 for each additional dependant.
Property Investment: Regardless of selecting the standard or expedited procedure, applicants have to either buy a property in Malta valued at minimum €700,000 or lease a property for an annual rent of minimum €16,000. The property investment should be retained/property must be rented for at least five years from the date of the certificate of Citizenship.
How Savva & Associates can assist:
Savva & Associates offers the following professional services to third-country nationals interested in obtaining Maltese Citizenship through real estate investment:
Malta Residency and Citizenship Applications
- Preparation of the application and all supporting documents.
Real Estate Transactions
- Assistance at all stages of the real estate transaction, including real estate sourcing, title search, and property due diligence;
- Drafting of the sale and purchase contract and any other required documents;
- Registration with the Land Registry;
- Obtaining certificates from the cadastral authorities and notaries.
Tax, Finance, and Accounting
- Opening a bank account in Malta for the purposes of the real estate transaction;
- Tax registration, including applying for a Tax Identification Number (TIN).
Our team of highly experienced professionals can advise you further on the Maltese Citizenship by Investment Programme application, on the basis of your particular circumstances. Please feel free to contact Charles Savva at email@example.com to discuss how we can be of assistance to you.