One can consider various approaches to getting permanent residency in another country. Ways are different in timing and costs but investment is one of the fastest and most reliable options. No wonder it was called Golden Visa. Those who have enough funds always find this program the most attractive and beneficial.
Malta stands out with its conditions and proposals for those interested in participation. Let’s disclose them in detail.
Key Features of the Malta Programme
Whether you are attracted to Malta by its awesome views, rich traditions, or stable economy, you can select among several ways to get Malta citizenship.
Thus, an Immigrant Invest expert Zlata Erlach explains that this is possible by birth, marriage, and reunification of the family. Refugees and persons with distinguished service for the country also have the right to such application. In addition, Malta citizenship by naturalization exists but it is the longest way.
Thus, the investment is one of the easiest and quickest options. The eligibility criteria for participants are as follows:
- citizenship of a third country excluding EU/EFTA areas;
- capital of at least 500 000 euro with 150 000 euro of finances;
- valid health insurance;
- absence of criminal records.
Candidates that correspond to these basic requirements can select from several options, namely:
- purchase of the property for at least 350 000 euro;
- rent of the real estate for at least 12 000 euros per year;
- direct investment to the governmental funds.
It’s worth mentioning that costs for the South region and Gozo are a bit lower.
In addition, the applicant pays an administrative fee of 40,000 euros and donates 2000 euros to any NGO in the country. The obligatory contribution to the local government equals 28,000 euros for the purchase of a property and 58,000 euros in case of renting.
After the confirmation of the application, you get a permanent permit for residency. Becoming a citizen is possible after 5 years.
Benefits of Choosing the Malta Program
Each investor has his reasons to take part in this program. The most crucial points include:
- Easy and convenient way toward a local passport. In this case, the paperwork is minimal and the whole period of time required is also one of the smallest.
- Permit for living and working in this country opens up almost the whole world starting from the EU region and Schengen zone and ending with different exotic places.
- High-quality education and healthcare systems become immediately available to the residents.
- Pleasant climate, thrilling beaches, and tasty cuisine. Here, one can lead a happy and worry-free lifestyle, and enjoy the sea and the unique atmosphere of the island.
- Rich traditions and mysterious history for those who are fond of legends and fascinating stories about the past.
These are the main Malta citizenship program benefits for all applicants. The government is open to cooperation and encourages investors to get consultations and make inquiries related to this program.
Comparison with Golden Visa Programs
As Immigrant Invest mentions, Golden visas are available in more than 40 countries around the world. Governments try to attract investors and create various conditions.
If we compare the existing programs, we will see that they differ mainly in the types of funding, as well as in their sums, for instance:
- Hungarian government asks for the funding from 250 000 to 500 000 euro depending on the type;
- in Greece, one needs to purchase the property for at least 250 000 euros and wait 7 years for full citizenship;
- Italian program starts with 250 000 euros and ends up with 1 000 000 euros, making it one of the most expensive options;
- a 280 000 funding is awaited in Portugal;
- Spain is ready to cooperate with investors who provide a minimum 500 000 euros and buy property;
- one of the highest thresholds is the USA with 800,000 dollars.
In addition, some countries do not set strict funding requirements. Canada belongs to this group. There, they do not evaluate money but look for novel ideas and those who are ready to implement them.
Thus, Malta stands out with its conditions and is one of the most popular options.
Bottom Line
Altogether, when you purchase real estate, it is not only about beneficial investment and earning money. In Malta, it is also a straightforward approach to becoming a citizen and enjoying a legal and happy life on a sunny island. A strong economy and ample opportunities for everyone create an encouraging atmosphere and are associated with numerous advantages that await all participants of this program.
