CITIZENSHIP BY INVESTMENT
Malta Citizenship By Investment: Brief and its benefits
Malta is the country of love and adventure. At the point when we ask about citizenship by investment program with our clients, one of the primary worries that they raise is the nature of the country.
Malta, one of the European countries, offers personal satisfaction to see the love in nature. Besides, its visa is one of the most reliable passports known worldwide, which means you don’t need to compromise a passport’s privileges.
If it is a place full of natural beauty, this isn’t a sufficient reason you need to live there. Malta is a nation providing free education, healthcare, and childcare to all its citizens.
Malta additionally has a rich culture with impacts from the British, French, Greeks, Romans, and adjoining North African nations.
Malta Citizenship by Investment Programs: Brief explanation
INVESTMENT 1: A CONTRIBUTION TO MALTA’S GOVERNMENT FUND
Investment in government funds is a non-refundable investment. Under this investment plan, the applicant needs to make a large donation to Malta’s Government Fund.
Malta’s Government Fund is used for Maltese National Development and other social projects like healthcare, education and job creation. Even though you will not get any profit from your speculation, your cash will go straightforwardly to develop the nation.
To qualify for Malta citizenship by investment, the following contribution must be made by the applicants:
• Contribution of €650,000 for the single applicant:
• Contribution of €25,000 for spouse and every dependant (dependents only under 18 year of age)
• Contribution of €50,000 for each qualified dependant age more than 18 years
INVESTMENT 2: REAL ESTATE
In a real estate investment plan, the applicant must also make a minimum investment in a government-approved real estate project in Malta.
It is required to invest minimum value in immovable residential property by the main applicant for citizenship.
• Applicant must acquire a property of at least €350,000
• Applicant must take a property on lease with a minimum rent of €16,000 per year
Such real estate property must be retained for at least 5 years.
INVESTMENT 3: A DONATION TO A NON-PROFIT ORGANIZATION
For Malta citizenship by investment, a minimum contribution of €150,000 is required in government bonds or other approved funds. This investment is retained for at least 5 years.
An individual with Malts citizenship is getting visa-free travel to 184 countries. The lists of countries included in visa-free travel are Singapore, Japan, Singapore, and Hong Kong.
A residency card is given to the applicant within 3 weeks of the citizenship application to Malta Agency. The residency card provides free mobility in the Schengen zone for a time of year and a half. The citizenship application is endorsed following 4 months, after which Identity Malta gives an endorsement on a basic level letter. The Maltese visa is given a year from the date of beginning residency.
With Maltese citizenship, it is feasible to open an organization in Malta, just as in other EU nations. This will assist you with showcasing your business globally and acquire more noteworthy validity in the business.
General Requirements For Malta Citizenship By Investment
There are some fundamental necessities to become a Maltese resident. Applicant must be:
1. Any individual of age 18 years old and above 18 years can apply for citizenship
2. Individual applying for citizenship should be medically fit
3. Individual applying for citizenship must not have any past criminal record
Dependant members of the applicant
For the application process, the dependent members of the main applicant are as following:
1. Spouse of the applicant who is applying for the same
2. Unmarried children below 20 years of age are dependents of the main applicant
3. Parents age above 55 years old, which should be completely reliant on the main candidate.
4. Each dependent member should have a clean criminal record and pass an individual personal investigation.
New conditions for citizenship program
According to the new program, 3 stages are decided for the participation; these stages are as follows:
1. Residence permit
Now it becomes necessary to have a resident permit card of malta while applying for citizenship. Dependent family members can skip this as they don’t have to acquire a residence permit.
2. Eligibility test of family
This stage is performed with the updated Due Diligence check. The agency checks all the necessary citizenship requirements, like sources of income, necessary documents required and qualifying dependent family.
3. Registration of citizenship
After completion of the above resident and eligibility check, investors can apply for Malta citizenship. The applicant can only apply for citizenship after 12 months from the date the residence permit is issued.
Tax treatment of new citizens in Malta
In Malta, tax is calculated by the individual’s tax residence and source of income, not by citizenship. This implies that even in obtaining citizenship in Malta, the applicant ought not to pay the country’s charge. Income and foreign assets come in the category of source, so until the income is not sourced in Malta, it is obligated to be taxed.
Taxation in Malta
It is additionally significant that applicants gaining citizenship in Malta through an investment scheme know that the state doesn’t impose:
• Estate duty
• Inheritance tax
• Wealth tax
• Property ownership tax
• Municipal taxes
Malta Citizenship by Investment Programs: Benefits
Albeit the program is unquestionably the more costly contrasted with other CBI programs, but on the other side, Malta citizenship by investment has numerous benefits to consider.
1. Malta citizenship offers you a chance to work, live and travel in all the European Union.
2. Malta citizenship is one of the powerful passports. You are getting a chance to travel to over 180 countries (including the United States, Australia, and Canada).
3. Malta is a country that is more tax-friendly.
4. If you have Maltese, your family dependent can also get Malta citizenship.
5. Malta is a social stability country having many opportunities for working or business purposes.
6. Malta Citizenship by Investment Program is one of the quick and easy citizenship processing programs
7. Malta Citizenship by Investment Program is a reputable CBI program
8. Malta Citizenship by Investment Program is best for business purpose
9. With the Malta Citizenship by Investment Program, you can enjoy a high quality of life
Malta Citizenship by Investment Programs: CONS
1. Malta Citizenship by Investment includes a due diligence process
2. Malta Citizenship by Investment is a long process for getting a second citizenship
3. Uncertain future of EU taxation
4. Malta Citizenship by Investment is somewhere expensive
How might Law Firm Istanbul WiklundKurucuk help you?
The applicant can experience numerous challenges while applying for citizenship or residency, which is the reason it is important to consult an expert who will give you customized assistance all through the citizenship application process.
An expert team from Law Firm Istanbul WiklundKurucuk can assist you with the accompanying:
• Limit the visits you need to make to the country that you wish to take the citizenship
• Have somebody who works exclusively for your benefit and assist you with the best solution for acquiring citizenship without any hassle
• Lessen the issue related to assembling your application for citizenship by investment
• Experts will assist you in selecting the investment plan
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