Malta is a small archipelago located in the Mediterranean Dec between the coasts of Italy, Tunisia and Libya. In addition to its convenient location, the country, which attracts attention with its nature and architectural beauties, has one of the most popular citizenship by investment programs in Europe. Malta which is a member of the European Union, is also the only country of citizenship by investment that you can find in the Schengen area. At the moment, the Malta Citizenship by Investment Program is called (MEIN) for short. With MEIN, you can become a Citizen of Malta by investing directly or acquiring residential property.
The application quota for the MEIN was set at 1,500. However, passports will be issued to a maximum of 400 people per year. The dependents’ families of the applicants will not be subject to these restrictions.
CITIZENSHIP IN MALTA
Because of the citizenship procedures are less costly and result in a shorter time compared to other countries, and also economic, political and geographical structure of the country, the desire to obtain citizenship in Malta is increasing day by day. At the below we will tell you about the conditions for applying for citizenship in Malta and all the necessary information. That is to say;
The applicant must have the following qualifications;
- The applicant must not have been convicted of a crime binding on his freedom.
- The applicant must be over the age of 18 and have a full verb license.
- The applicant must be able to prove the source of the investment amount.
- The applicant must have the health status to sign the necessary documents.
- The applicant, who has all this, must then own a property in Malta and successfully pass the necessary behavior and situation assessment process.
In order to have a prestigious Malta Passport, the following processes are intended to be completed in 12-14 months:
- The process begins with the signing of the Consulting Service Agreement.
- Travel to Malta for a Residence Permit Application together with the preparation of documents. After the final confirmation of citizenship, a passport application and a trip to Malta for an oath of citizenship are made.
- The right to free movement in the EU and the Schengen area is obtained together with the Session cards obtained within 1 month.
- After the preliminary approval of the citizenship application is received, the relevant contribution and investment fees are paid
- After the final confirmation of citizenship, a trip to Malta for an oath of citizenship and a passport application are made.
The conditions for becoming a citizen through direct investment in Malta have been determined as follows;
- If the investor wants to obtain citizenship by staying in Malta for 12 months, he can do so by paying a contribution of € 750,000 or by paying a contribution of € 600,000 if he wants to obtain citizenship by staying for 36 months. Investors must also contribute €50,000 for each additional dependent included in their application
- The investor can also obtain citizenship by buying a real estate in Malta with a minimum value of € 700,000 or renting a real estate worth € 16,000 per year. However, the mentioned real estate cannot be sold for a period of 5 years.
- In addition, the investor must make a charitable donation of EUR 10,000 to a registered charity, cultural, sports, scientific, animal welfare or artistic non-governmental organization.
QUALIFICATIONS AND GENERAL REQUIREMENTS FOR THE APPLICANT
Some conditions have been set for citizens applying for a residence permit.
- First of all, applicants for residence permits must not be EU, EEA and Malta citizens.
- Before applying, they must certify that they and their dependents have a stable and regular financial situation sufficient to earn a living.
- The applicant must pay a contribution of € 28,000 to the state if the property is purchased and € 58,000 if he rents it.
- The applicant must make a donation of €2,000 to a local non-governmental organization or Voluntary organizations.
- The applicant can choose between the options of buying a property (a property with a minimum value of € 350,000 in the northern and central parts of Malta; a property with a minimum value of € 300,000 in the southern parts or Gozo) or renting (a property with an annual rent of at least € 12,000 in the northern parts or south of Malta or at a minimum annual value of € 10,000 in Gozo).
- The applicant must obtain a comprehensive health insurance policy that carries all risks.
- The applicant must comply with the determination check to be carried out by the relevant institution (RMA (Royal Malta Artillery).
- The applicant shall periodically deposit at least € 150,000 (total) certain intervals in bonds and shares approved for protection by the Malta government for a period of five years.It is expected that this investment will be made in financial instruments that are expected to be beneficial to the island and confirmed by the government.
- The applicant must not pose any potential threat to national security, public policy, public health or the public interest.
- Must have a valid passport.
SUBMITTING AN APPLICATION
The citizen who provides these qualifications must then agree with an authorized person to submit his application. Subsequently, the application will be submitted to the RMA subject to all its requirements along with a non-refundable fee of € 40,000. The first € 10,000 is required within a month after the submission of the application. However, the remaining €30,000 will be paid within two months of the publication of the Confirmation Letter of Principle.
THE SITUATION DETECTION PROCESS
The applicant will be accepted as a beneficiary under this Program after due care has been taken in accordance with the qualifications specified in the Regulation, general requirements and eligibility criteria. The process takes about 4 to 6 months from the moment of submission of a complete and correct application. If the applicant is approved through the due diligence process, a letter of approval will be issued in principle.
After the confirmation letter is issued, the Main Applicant and dependents will travel to Malta for the receipt of their biometric data. Seating cards are issued only when the investment is done properly and all qualification criteria are met. The seating card is valid for 5 years and can be renewed later. The next step is to reconcile investments. The Original Applicant must purchase/rent the qualified property, make a donation and make the contribution to the Government of Malta. Every year, the RMA i) proof of ownership (rent, deed) and ii) will claim proof of disease insurance and annual policy.
MALTA E-RESIDENCE CARD
The Malta e-residence card was previously known as a Residence Permit. A person who plans to reside in Malta for a period of more than three (3) months must apply for an e-residence card. The life of an e-Residence card depends on the type of application to the Ministry. An EU citizen and family members who have been legally resident in Malta for five (5) years on an ongoing basis can apply for permanent residence in Malta.
Foreigners who are not EU citizens who can benefit from the Malta E-Residence card system are as follows;