Malta Citizenship by Naturalisation is a new scheme which was introduced in November 2020 to replace the old Individual Investor programme (IIP) which was originally launched back in 2004.
This new scheme offers non- Maltese residents the opportunity to acquire full citizenship of Malta by making a substantial non refundable contribution to the Maltese Government subject to stipulated terms and conditions that apply which the potential candidate will need to adhere to.
(i) Residency
Potential clients in order to be eligible to apply first need to acquire residency in Malta by renting a property. Rental agreements must be for a minimum period of 1 year @ €16,000 yearly rent. During this time clients may complete and submit their application to Residency Malta through their chosen legal representatives.
(ii) Front Contribution
The main applicant will have to pay a non refundable contribution of €750,000 to the Maltese National Development Fund. There will be a further charge of €50,000 for the main applicant’s partner and every other dependent to follow. Applicants who have been legal residents of Malta for at least 3 years will pay a lower non refundable contribution fee of €600,000 plus additional fees (€50,000) for each dependant.
(iii) Investments
Applicants would also need to make a direct investment in Malta through the acquisition of Property which they would need to keep for a period not less than 5 years. This could be done by either purchasing or renting a property. The minimal Investment to purchase a property is €600,000, or rent a property for not less than 5 years with a minimum threshold of €16,000 rent per year.
(iv) Due Diligence
The applicants must pass a rigorous and strict due diligence process in order to be eligible to acquire citizenship. This will also include proof of clean source of wealth.
Malta’s Golden Visa scheme is aimed at granting non EU Citizens a residency visa for 5 years to reside in Malta. Like all schemes the Golden Visa scheme grants the applicant easy access to the Schengen zone and is subject to a list of conditions.
(i) A front contribution of €30,000 is to be paid to the Government for the main applicant, his spouse and children which is non refundable. A further €5,000 for every added dependent is payable.
(ii) A €250,000 Investment in Government Bonds or stocks has to be made and retained for 5 years.
(iii) Due diligence is carried out on the applicant to prove source of wealth.
(iv) The applicant can either rent or purchase a property in Malta which will have to be retained for 5 years.
In the case of renting, the applicant can rent a property in the North of the Island and Gozo for €12,000 rent per year or rent a property in the south of Malta for €10,000 rent per year. Contracts have to be for a minimum length of 5 years.
If purchasing a property instead of renting, the minimum investment required is of €320,000 to purchase a property in the North and Gozo or €270,000 to the purchase a property in the South of Malta.
The Malta Golden Visa is regulated by the Legal Notice 288 of 2015, amended by Legal Notice 189 of 2017 issued as subsidiary legislation of the Immigration Act (Cap 217).
The Schengen zone comprises 26 European states that have officially abolished passport and other types of border control. This effectively works as a single jurisdiction for international travel purposes, with a common visa policy.
Kindly contact us by email to learn more about Malta Citizenship by Naturalisation and the Golden Visa scheme to start your application process.
info@maltaluxuryhomes.com
View our Featured Rental Properties here
View our Latest Properties For Sale here
View our Exclusive Properties For Sale here
