Malta has a very attractive Citizenship programme which is capped at 1,800 applicants. As a result of the programme, the Maltese Government is expecting almost €900 million in donations to a new posterity fund.
Becoming a Maltese citizen costs €1.15 million, including a property acquisition and investment in government stocks.
- Pay €650,000 in a donation to the National Development and Social Fund.
- Invest €350,000 in a property or rent a property with a minimum annual rent of €16,000 PA
- Invest €150,000 in government stocks, of which €10,000 will be a non-refundable deposit:
- their spouses and children below 18 years of age must pay €25,000 each, unmarried children between 18-25 and parents above 55 years must pay €50,000 each in Government fees Other fees will be due diligence fees (€7,500 for the applicant, €5,000 for the spouse, parent and over-18 children, €3,000 for children under-18) and passport fees and bank charges of €500 and €200 per person, respectively.
- The property and stocks must be retained for a minimum period of five years.
Who is eligible?
Applicants and dependants:
- Must have a clean criminal record.
- Must not be indicted or have appeared before the International Criminal Court.
- Cannot be or have been wanted by INTERPOL.
- Must not be an “enemy of the State” or “potential threat” to Malta’s independence, national security or reputation.
- Must not have pending charges or have been found guilty on crimes of terrorism, terrorist funding, crimes against humanity, war crimes, crimes against the European Convention of Human Rights.
- Cannot have been charged or found guilty of paedophilia, defilement of minors, rape, violent indecent assault, inducing persons under age to prostitution, and abduction; or other offences that disturb the good order of the family.
- Applications must come with a medical certificate confirming that applicants and dependents are not suffering “from any contagious disease and that they are otherwise in good health”.
Does Identity Malta meet the applicants?
Not necessarily. A personal interview with an applicant is not a mandatory requirement, but may be recommended by the concessionaire Henley & Partners, or considered by Identity Malta, on a case-by-case basis.
Are there any loopholes?
Yes. Applicants who provide false information, have a criminal record, are subject to a criminal investigation, are a potential national security risk, involved in an activity that could cause disrepute to Malta, or were denied a visa to a country with whom Malta has visa-free travel: “shall not be approved for citizenship… unless Identity Malta is satisfied that the applicant is still worthy of being considered for approval due to special circumstances to be demonstrated by the applicant.”
How to apply?
Prospective applicants can instruct an authorised lawyer who will pass on the application to a due diligence agent approved by Identity Malta. The background check is carried out over 90 days (three months), and then reviewed by Identity Malta for further background checks over 30 days, and issues its recommendation to the minister. A personal interview with the applicant may be carried out. Within five days of approval, the applicant must pay the required fees, and five days later take the oath of allegiance.
Due Diligence Fee and Government and Legal Fees:
- Main applicant: €7,500
- Spouses, adult children: €5,000
- For children: €3,000 each
Additional Professional Services Fee:
- Main Applicant: €70,000
- Spouse and adult children (18-25): €15,000 each
- Minor children (below 18): €10,000 each
- These figures are an estimate.
Advantages of this visa
- Very fast way of securing a second EU nationality.
- Relatively cheap programme compared to others.
- Effectively becoming an EU National gives rights of residence in the UK providing you meet the criteria thus gives the ability to also apply for British Nationality in due course.
- No need to meet minimum residence requirements to achieve Malta Nationality.
- Malta is a fairly stable and safe Island.
- Has a fairly beneficial tax regime.
- Elderly dependant relatives can apply as dependants.
Disadvantages of this visa
- You will usually not be entitled to get benefits or other public funds.
- Outright donation of €650 000 means that this sum is effectively lost.
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Blog - 22/01/2016
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