Malta – The Mediterranean Archipelago
The Republic of Malta is a small, island country in the Mediterranean Sea that lies south of the island of Sicily, Italy. It is an archipelago, comprising of six islands and islets in the middle of the Mediterranean Sea, but only the three largest islands of Malta, Gozo (Għawdex) and Kemmuna (Comino) are inhabited.
With a civilization that dates back thousands of years, Malta boasts some of the oldest megalithic sites in the world.Malta’s strategic position has fostered its development as an important trading post and it remains a leading centre for container and freight transhipment.
Malta is a member of the Council of Europe, European Union, Organization for Security and Co-operation in Europe, United Nations and World Trade Organization.
Malta’s free market economy – the smallest economy in the euro-zone – relies heavily on trade in both goods and services, principally with Europe. Malta joined the EU in 2004 and adopted the euro on 1 January 2008. It has been a member of the Schengen Area since 2007.
Malta is a popular holiday destination and tourism is the nation’s main source of income. Malta’s economy is also dependent on foreign trade and manufacturing.
It maintains one of the lowest unemployment rates in Europe. Malta’s banks have been ranked amongst the top 5 soundest banks in the world.
Advantageous tax schemes are a big draw for foreign investors. It is a very attractive destination for private residence due to its stable political climate and strategic location.
Malta Individual Investor Program (MIIP):
This program offers affluent non-EU persons of impeccable standing the possibility of acquiring aMaltese citizenship on the basis of a contribution to and investment in Malta. Citizenship obtained under this program grants the rights of full citizenship for life and can be passed on to future generations by descent. Maltese citizenship grants access to all investment opportunities in Malta and throughout the EU.
The Malta Residence and Visa Program (MRVP) offers non-Maltese persons the possibility of acquiring an EU residence card which offers visa-free travel within the Schengen area.
Who can qualify?
- Investor must be at least 18 years of age
- Applicants must have no criminal record and must be of good health
- Applicant’s spouse and dependent children under the age of 18 years, unmarried children between 18 and 26 years of age and dependent parents above the age of 55 years can also be included in the same application provided an additional contribution is made.
- The applicant has to declare an annual income of not less than €100,000 arising outside Malta or has in his/her possession a capital of not less than €500,000.
The total investment requirement is a minimum of € 1,150,000. This amount has to be invested in the following ways:
- Property purchase or rental
Applicants are required to make an investment of at least €350,000 in property or enter a property rental contract for at least €16,000 per annum, both on five year contracts.
- Contribution to the National Development & Social Fund
To qualify for Maltese citizenship by investment, the main applicant is required to contribute at least €650,000 to Malts. Of this contribution, 70% will go to the fund set up by the Government of Malta and run by a board of trustees. The rest goes to the consolidated fund.
- Investment in bonds/shares
Applicants are required to invest a minimum value of €150,000 in Government approved bonds/shares to be held for a minimum period of 5 years.
Spouses and children are required to contribute separately to be included in the application. The following contributions must be made under the MIIP:
Main applicant – €650,000
Spouse – €25,000
Minor children – €25,000 each
Children 18-26 (unmarried) – €50,000 each
Dependent parents & grandparents – €50,000 each
Adult children (physically or mentally challenged) – €50,000 each
The entire process from submitting the citizenship application and supporting documents to acquiring a Maltese passport takes 12-14 months.
Benefits of Citizenship by Investment program of Malta:
- Citizens have the right to live and work anywhere within the 28 countries of European Union
- Citizens have the right to study for free or at special tuition rates at schools and universities within any EU country
- Access to well establish EU healthcare system
- Visa free travel to more than 151 countries
- No language requirements
- Dual citizenship allowed
- Malta offers a favorable tax regime to investors