In recent times, second citizenship options have rapidly gained popularity. Also referred to as “Global Citizenship Programs”, were originally designed to attract only high-net-worth individuals (HNWIs) and ultra-high-net-worth individuals (UHNWIs).
But with the growing economic and political instability globally along with travel restrictions, and various other reasons, more and more people from all corners of the world are evaluating their relocation/dual citizenship options.
Whether single individuals or young married couples & families or retirees or middle-class professionals or investors or executives, all are willing to make the necessary financial contributions and investments to secure their and their families future.
This article has been written with the intent to make you understand the application process of becoming a citizen of Malta.
Malta in a nutshell.
The biggest question for anyone considering second citizenship is not whether or not a second passport is required but to which country the citizenship is acquired from.
So, with the ever-increasing number of countries offering second citizenship programs; Why consider Maltese nationality?
Different people might have different reasons as to why they want to take up an alternative or second citizenship.
Living in Malta can be very idyllic in many ways. The archipelago located in the heart of the Mediterranean Sea is picturesque, and you’ll never be far from the beach.
Malta enjoys culture, history and more than 300 days of sunshine. The weather seldom dips below 9°C or above 32°C, making it exceptional for those seeking to escape scorching summers or severe winters.
Additionally, as an EU Member State, Malta is recognised internationally as one of the safest and secure places in the world, with high economic and political stability.
The Maltese islands have an overall 0.57% chance of falling victim to a natural disaster and also has the lowest crime rates to be found anywhere.
If we solely talk about Maltese citizenship by Investment, it offers both short-term & long-term benefits.
The Malta citizenship by investment program is the only one that offers visa-free access to all six English-speaking countries, including the United States of America.
Malta forms part of the borderless Schengen area as well as the European Union, so becoming a Maltese citizen, not only gives access to one country but to the entire European continent.
The process of applying for Maltese Citizenship is very strict; taking around 12 months to complete.
The process to citizenship begins with the submission of an e-Residence Application and comes to an end with the issuance of a certification of naturalisation.
Related: Discover Malta
Wahaat ensures eligibility of the applicant and takes care of the documentation and preparation of all the required documents.
An application for the residency permit is submitted to start the 12 - month residency in Malta requirement for citizenship. For the purpose of biometrics, the physical presence of the applicant is required.
After the Malta Police Approval, Initial Background Checks followed by Compliance Approval and exhaustive Due Diligence Process, the application is submitted to the Malta Individual Investor Programme Agency (MIIPA) along with payments due.
Subject to further investigative due diligence, MIIP confirms if the documentation submitted is formally in order, after a 120 days review period. Once the due diligence process is satisfied an approval letter is issued by MIIPA.
A formal request is issued whereby the applicant is required to settle the contribution (fees mentioned below) within 20 working days.
Here the applicant has to provide evidence of health insurance, genuine links, qualifying property investment, and portfolio investment. Monetary requirements for the same are mentioned below under the investment requirement section.
The professional team of experts at Wahaat can help you in gathering all that is required at this stage. Contact us today.
After all the IIP obligations are fulfilled, the applicant and all the dependents will be invited to take an Oath of Allegiance in Malta.
The Certificate of Naturalisation is issued by the Government of Malta issues and the processing of Maltese Passport Application reaches its final stages.
So, all in all, it will be fair to say that the entire Malta citizenship process takes about 55 weeks to complete, post which, you are issued with the Malta Passport.
The Malta Individual Investor Programme (IIP) has a definitive fee structure.
|Malta Citizenship Investment Requirements (Cost)|
|Property Requirements (Qualifying Property)||
The entire amount is NOT required to be paid in one go.
Click below to find out how much citizenship by investment will cost you
Wahaat is an advisory service firm that focuses on High-Net-Worth Individuals providing three distinct but related services:
Wahaat has a team of professionals and offices located in Malta and Dubai.
Wahaat, through its affiliate, is proud to be the official concessionaire chosen by the Government of Malta to promote the Malta Residence and Visa Program throughout the Middle East.
Through Wahaat’s and our strategic partner’s presence in over 120 countries, represented by 565 offices, Wahaat has vast experience in the development and provision of holistic services that are tailor-made for each individual client.
Read about the updated and ever-growing list of the Malta passport visa-free countries.
It is now possible to acquire second citizenship from many countries. However, the question remains; why do people consider second citizenship?
Tax in Malta on the basis of residence is charged on income & capital gains. Businesses set up in Malta enjoy full imputation system & refundable tax credit.