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Late last year, Malta’s government announced that they will be making significant changes to their Citizenship by Investment policy, the Maltese Exceptional Investment Naturalisation Policy (MEIN) for which they have recently laid out the stringent criteria.
MEIN allows citizens from outside of the EU a route to Maltese citizenship through making a significant investment into the country, which will give the applicants the right to live, work and study within the country, as well as all the benefits of citizenship that natural born citizens, including free healthcare and education, attractive tax laws, visa free access to over 184 countries, and the right to live, work and study anywhere within the EU.
How long does it take to get Maltese citizenship?
Whilst applicants can get residency within a matter of months, the process to getting Maltese citizenship can take between 14-38 months, depending on how much the applicant is willing/able to invest into the country, with the more money that is invested, the less time it takes to receive a Maltese passport. In order to be eligible, applicants must reside in the country throughout the application process.
So what are the requirements?
First and foremost, applicants must have enough funds to fulfil the financial requirements of the programme. This includes at least a EUR 600,000 direct investment into Malta’s National Development and Social Fund, with an additional EUR 50,000 for each dependent, alongside a purchase of a property valued at a minimum of EUR 700,000. What’s more, applicants must make a donation to a local charity of at least EUR 10,000.
Aside from these financial requirements, applicants must fulfil certain other criteria. Those wishing to gain citizenship through investment must be ‘fit and proper’ and be in good health. To be deemed as ‘Fit and Proper’ applicants must show a clean police conduct certificate for any country they have resided in for at least 6 months over the previous 10 years, as well as every country of citizenship. A person may not be deemed ‘fit and proper’ if the individual has been denied a visit to a country where Malta has visa free travel arrangements. Providing these requirements are met, non-EU citizens and their family members are able to submit their application to the Maltese government.
Despite being one of the smallest nations in Europe, the country has a strong economy, with residents and citizens enjoying a high quality of life, making it a popular destination for expats to to live and reside there. If you are interested in becoming a Maltese citizen, get in touch with us to book a free consultation, where we will discuss your eligibility and walk you through the complete process.