How much and where to invest to become a citizen of Malta in 2020
Just a few years ago, business immigration seemed like something on the verge of fantasy. Now almost every successful businessperson can move to a country he or she likes. The main thing is to meet all the conditions: to invest in its economy or create a socially and economically significant business. It is easier to get citizenship of Malta for investment than it seems at first sight. The benefits of living in this country will more than compensate for all the costs of moving.
How much does it take to acquire Maltese citizenship?
- Mandatory non-refundable payment to the "National Development Fund" - 650 000 euros;
- The purchase of a home worth more than 350,000 euros or a rental contract (5 years) of at least 16,000 euros per year;
- Acquisition of government bonds - 150 000 euros;
- Due diligence according to the Due Diligence standard - 7,500 euros.
In total, according to the most conservative estimates, the fees will sum up to 887,500 euros. This amount is only valid if the investor plans to acquire Maltese citizenship only for him- or herself. The obligatory contribution to the National Development Fund for family members is paid additionally - 25,000 for the spouse and each of the minor children, and 50,000 for adults and elderly parents.
The Due Diligence check for family members will not be free either: 5,000 for adults and 3,000 for children. It turns out that moving to a rented house will cost a family of 4 people about 973,500 euros. The amount, which at first glance seems impossible to raise, is quite justified.
The advantages of Maltese citizenship
- A passport that allows you to reside in any of the EU countries and move around the EU without a visa. The combination of Maltese and Russian passports allows the holder to freely cross the borders of 177 countries;
- The quality of life meets European standards, and its cost is much lower than in other EU countries;
- Malta's tax system is designed for those who conduct international business. The rates are flexible and loyal;
- High-quality free European education and medicine;
- The possibility of legal employment in any of the other EU member states.
Purchased government bonds can be sold in a few years, and thus return some of the money spent on citizenship. The economic system of the jurisdiction is arranged in such a way that its bonds are not devalued, and real estate, over time, only becomes more expensive. Accordingly, the initial purchase of a home can also be a profitable investment for the owner.
Stages of paperwork
Obtaining citizenship in Malta 2020 should begin with an application for expert assistance. IT-OFFSHORE specialists will conduct an initial screening and assess the probability of obtaining a positive decision. If approved, they will help with the preparation and execution of documents.
- Only an individual who has been a resident of Malta for at least a year can become a citizen of Malta. Therefore, to begin with, it is necessary to obtain a residence permit;
- After a year, it is necessary to submit documents for the Due Diligence, which will take 4-7 months;
- If the check passes well, the applicant for citizenship needs to pay the mandatory contribution to the National Development Fund within 20 days and to make the remaining investments;
- After confirmed payment of all obligations, the passport of a Maltese citizen is prepared within 1-1.5 months.