The Maltese Citizenship by Investment Programme is one of the first to be approved by the European Union. The Republic of Malta enjoys a steady political climate and a bi-partisan scene that revolves around national and economic significance of the place. Malta has dealt with financial crises smartly and proudly shared the limelight alongside Germany being the only two countries to fuel economic growth in the Euro Zone. The banks of Malta are ranked among the top five most stable banks in the world.
Malta has been a proud member of European Union since 2004 and a constituent of Schengen since 2007. Citizenship earned through the program bestows full nationality rights as that of local residents and can be passed to future generations via descent. It also grants access to all investment opportunities within the country and all through European Union citizens open to Maltese. As of June 2015, number of applicants to the citizenship program climbed above 620 who were successfully granted residency out of 1,800 total applications.
To be eligible for Maltese citizenship, applicant must be at-least 18 years of age and should meet other official requirements. Candidate may add dependents to the application form under particular circumstances who’ll eventually become rightful heir per the program. Beneficiaries that fall under Global Residence Programme may also apply for Malta residency program.
- The fit & proper test
Applicants have to prove they’re physically and mentally fit with no criminal record or any other pessimistic history. “Fit and proper” test would ensure only deserving and well-reputed applicants must be allowed to move-on with Malta citizenship by investment. To assess and approve applications at various stages, a four-tier due diligence process is exercised by Maltese government.
Claimants must exhibit a clean criminal records with proper background evaluation conducted with International Criminal Court, INTERPOL and other legal authorities. Applicant should cater a police certificate as well after submitting application form however before approval.
- Good health
Candidates must provide valid evidence against any contagious or lethal disease. They mustn’t be following a treatment procedure of any such disease that imposes a burden over Maltese health system.
- Contribution to National Development & Social Fund
Applicant is also required to contribute at-least 650,000 Euros to Malta. Around 70 percent of this contribution would go into the Fund initiated by Government of Malta and operated by board of trustees, what remains goes to the consolidated fund. Likewise, spouses and children should contribute 25,000 Euros whereas unmarried children that falls within the age group between 18 and 25, along with dependent parents are liable to contribute 50,000 Euros. Note that this investment is only made after approval of citizenship petition.
Property purchase or rental
Applicants are also requested to invest around 350,000 Euros in Maltese real estate or enter a five year rental contract worth 16,000 Euros per annum.
Aspirants are required to payout at-least 15,000 Euros in bonds or shares time and over, approved by state government and kept for almost five years. This investment need to be made in stocks authorised by government that’s mutually beneficial to Island’s development and economic strengthening.
Residential requirement asks for a proof of genuine link with Malta. Government approved agents obtain written approval of their client’s proposed links whereas citizenship is bestowed after 12 months from activation of genuine link. Emerging successful means you’ve finally earned Maltese citizenship.