Malta, like Cyprus, is ready to provide wealthy and reliable foreigners with not only a residence permit, but also full citizenship.
Since Malta is a member of the European Union, the citizenship of this country gives access to the same legal benefits as the citizenship of, say, Germany, Sweden or France. In particular, the opportunity to live and work in any of the 28 countries of the European Economic Area, which, in addition to the entire EU, includes Norway, Iceland, Liechtenstein and Switzerland.
At the same time, the procedure for obtaining citizenship is designed in such a way that those who meet the requirements of financial solvency and trustworthiness can obtain it very quickly – in just 14 months from the start of the process. It is divided into two stages: first – obtaining a residence permit (aka Schengen residence card), which is issued for a year, then – citizenship.
At the stage of obtaining a residence permit, an adult applicant with international health insurance (coverage – from 50,000 euros) must acquire real estate in Malta. There are two options: either buy for no less than 350,000 euros, or rent for 16,000 euros per year or more.
This is followed by a security check and the absence of a criminal past – moreover, the applicant must pay for it himself: checking himself costs 7,000 euros, checking dependent family members – 5,000 euros, checking minor children – 3,000. At this stage, data from Interpol, the International Criminal Court and a number of other sources.
If the verification proves that the applicant is trustworthy, he must make a one-time contribution to the local National Development Fund in the amount of 650,000 euros in order to obtain Maltese citizenship. For family members – separate contributions, although not as large: for a spouse – 25,000 euros, the same for children aged 18, and 50,000 years for dependent family members aged 18 to 26 years and for the applicant’s parents.
In order to obtain citizenship, the applicant must have real estate in Malta – acquired in ownership for at least 350,000 euros and without the right to resell or rent for five years or rented for at least five years for at least 16,000 euros per year and without the right sublease.
In addition, the applicant for citizenship is required to invest in financial instruments (this can be government bonds, stocks, etc.) and keep these investments for at least five years.
After fulfilling the above requirements, the applicant receives a certificate of naturalization, followed by the issuance of a passport.
Our partners from PR Special Pro are ready to provide the necessary advice on residence permits and citizenship in different countries of the world, registration of foreign companies and opening bank accounts.