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Each year, the number of people settling in the island nation of Malta is increasing. This is an ideal location for residency because any applicant who comes to this land falls in love with its pristine natural beauty, impressive classical architecture, and romantic Mediterranean scenery. So, what conditions need to be met to settle in this country? Let's explore the conditions for acquiring Maltese citizenship in the following article.
The investment citizenship program in Malta has been around for a long time, suitable for individuals or families who wish to acquire citizenship of European Union (EU) member states. Malta became an EU member in 2004.
The increasing number of people wanting to acquire Maltese citizenship is due to the country’s stable political regime, developed economy, and one of the best banking systems in the world. The investment citizenship program in Malta is legally recognized through the executive body of the European Union. At the same time, the Maltese government ensures the highest standards in the due diligence and selection of investors to ensure that only reputable and influential individuals are granted official citizenship.
Successful residents will be certified with a Maltese citizenship certificate. Furthermore, acquiring Maltese citizenship can extend to the entire family of the immigrant. Hence, you can freely travel to 28 European countries and Switzerland.
Invest in Maltese citizenship to own a desirable place to live
To acquire Maltese citizenship through the investment residency program, you need to comply with and ensure the fulfillment of the following six basic conditions:
Generally, the Malta investment residency program requires stricter due diligence standards compared to other immigration investment programs worldwide. This indicates that only residents who meet all conditions are granted Maltese citizenship.
The suitability and appropriateness check will go through four minor rounds under the direct supervision of the government over the applicant. Moreover, these applicants must have a reputable and clean criminal record, and the Maltese government will also verify other related documents before issuing the European citizenship certificate.
The next condition for acquiring Maltese citizenship is that you must be in good health and free from any infectious diseases. Additionally, applicants must have insurance that meets international health insurance standards.
A condition for acquiring Malta citizenship is to make a non-refundable financial contribution to the National Development and Social Fund established by the Maltese government. This fund is primarily maintained by a board of trustees and is on par with central bank projects and financial projects. The following are the amounts you must pay within four months of the principle approval of Malta's Individual Investor Program (IIP):
The main applicant must contribute $650,000.
The spouse must contribute approximately $25,000.
Children under the age of majority must contribute approximately $25,000 per child.
Unmarried children aged 18-26 must contribute approximately $50,000 per person.
Parents/grandparents financially dependent on the main applicant must contribute $50,000 per person.
Adult children with mental incapacity must contribute $50,000 per person.
Financial contribution is a condition for acquiring Maltese citizenship
Another condition for acquiring Maltese citizenship is that the applicant must have a stable residence for five years. You can do this by purchasing a property with a minimum value of around $350,000 and maintaining ownership for five years or renting a property for more than five years with a minimum rent of $16,000.
Not only owning property, but applicants must also provide proof of related documents within four months from the acceptance of the principle of Maltese citizenship.
Bond investment is a condition for acquiring Maltese citizenship that must be adhered to before an individual is accepted into the Malta investment residency program. Applicants must invest at least $150,000 in financial instruments approved by the Maltese government, such as bonds, stocks, or debts that benefit the country. Furthermore, you must commit to maintaining the investment for at least five years.
Under Maltese law, a condition for foreigners to acquire Maltese citizenship is to meet the residency requirement. The minimum residency period is 183 days, or you must buy/rent property in Malta. In some cases, applicants for citizenship who have resided in Malta for one year before the IIP approval period will have the residency requirement considered fulfilled, thus becoming Maltese citizens.
If you want to immigrate and acquire Maltese citizenship, you need to complete all residency documentation
The timeline for applying for Maltese citizenship through the residency program will proceed in the mandatory sequence as follows:
Day 1: Apply for citizenship under the recognized investment residency program and officially submit it to the Maltese recognition agency. The application must include all related documents such as asset origin, authentication, etc. Additionally, you need to complete fees like due diligence fees and Maltese passport fees.
Day 5: By the fifth day from the application submission, the Maltese recognition agency will notify the authorized person of the application’s acceptance for review and request for supplementation.
Day 9: The Maltese representative agency will notify you if the application meets the regulations. Afterward, within 30 days, the Maltese government agency will perform the supplementation procedure.
Day 120: At this point, the applicant will be accepted based on the principle of IIP. This indicates that the applicant must ensure compliance with the investment program regulations to quickly obtain citizenship.
Day 125: The Maltese representative agency will start sending you the payment amounts to the National Development and Social Fund, to be completed within 20 days.
Day 240: On this day, you must provide proof of having invested $150,000 in bonds or purchased/rented property in Malta.
The process of obtaining Maltese citizenship is quick and easy
Overall, the conditions for acquiring Maltese citizenship are not as complicated and troublesome as in many other countries. However, if you do not have much time to handle the documents and related paperwork for Maltese immigration, https://quoctichthuhai.com/ is a service provider offering quick immigration services, always ready to support customers 24/7.
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