Jun 21, 2022
9 min read
Malta is known for their great weather and breathtaking landscapes, but now they're also known for its Malta Golden Visa. I've helped a friend through the process and realized that there are a lot of questions when it comes to the Golden Visa. So if that is you, never fear. I'll guide you through everything you need to know about the Malta Golden Visa.
We'll start with:
and then some FAQ's with any other questions you might have.
The Malta Golden Visa (Malta Residence and Visa Program) route allows high-income individuals to receive a Maltese passport (European passport) within one to three years by making a substantial investment in Malta.
To get a Malta passport in one year, you have to invest at least EUR 750,000 in the national development fund. An investment of EUR 600,000 will get you a Malta passport after three years.
Under the new Maltese Citizenship by Naturalisation for Exceptional Services by Direct Investment program, you and your family must live in Malta until you become eligible for Malta citizenship. This means that you also have to invest in residential real estate.
There are two Malta Golden Visa investment options available:
I will discuss each of these investment options in length.
The investment options leading to a Maltese passport are:
Three-year program: Your main investment should be at least EUR 600,000 to the national development fund. Then there is also the additional investment for family members, which is EUR 50,000 for each dependant family member included in your application. You also need additional residential investments, which means you must purchase a residential estate worth at least EUR 700,000. If the property is located in Gozo or the South of Malta, the minimum purchase amount is €270,000. Or you can enter a rental agreement of at least EUR 16,000 per year, which you must maintain for 5 years. Lastly, you must donate at least EUR 10,000 to an approved cultural, scientific, philanthropic, or artistic organization or society.
The one-year program (12 months of residency): Your main investment should be at least EUR 750,000 to the national development fund. You also need additional funding for family members worth EUR 50,000 for each dependent family member included in your application. You must also purchase residential property worth EUR 700,000 or enter a rental agreement of at least EUR 16 000 per year, which you must maintain for at least 5 years. Lastly, You must donate at least EUR 10,000 to an approved cultural, scientific, philanthropic, or artistic organization or society.
The Malta Permanent Residency Programme (MPRP), as the name suggests, leads to permanent residence in Malta, as opposed to immediate Maltese citizenship. It is part of the Malta Golden Visa scheme. The investment required for an MPRP is EUR 100,000.
Your main investment should be at least EUR 98,000 to a Government approved fund. In addition, you also need to make a charitable donation of at least EUR 2000 to a registered non-governmental organization in Malta. Lastly, you must sign a rental contract of at least EUR 10,000 per year for at least five years.
Quick note: After obtaining your permanent residence card, if you continue to live in Malta, become integrated into the society, and learn the language, you can apply for Malta citizenship after five years.
Be sure to check the eligibility requirements to see if you're eligible; otherwise, they won't accept your Malta Golden Visa. To be granted a Golden Visa for Malta, you must fulfill the following eligibility requirements:
The residency requirements for the Malta Golden Visa are straightforward. The time you have to live in Malta before you become eligible for citizenship depends on your type of investment:
If you apply for a Malta Golden Visa, you (the main applicant) need to ensure that you have all the required travel documents. If you forget to add one of the travel documents, the visa processing time could take longer, or in extreme cases, they reject your application. You need the following travel documents for your Malta Golden Visa:
Quick note: The exact documents will change depending on your circumstances (investment, family, background).
Applying for a Malta Golden Visa is lengthy and complex, taking several months. It is also different for everyone, depending on the investment type, nationality, and family situation. This is why most applicants hire professional help, and I would definitely recommend doing so.
Although I can't give you a complete step-by-step guide like I wish I could, I can still give you a brief overview of what to expect during the application process.
The first thing you need to know is that you need to contact a team of financial and immigration professionals to choose a government-approved fund to invest in. Then, you need to travel to Malta to invest. After you make your investment, you need to collect all the documents proving that you made an eligible investment, and you need to gather all your required travel documents. Next, you must submit your Malta Golden Visa application to the Residency Malta Agency. If your application is successful, you and your family members will receive Maltese residency (residence permits).
Within 12 months of receiving your residence permits, you must apply to determine if you are eligible for Malta citizenship. If you're eligible, you will receive an Eligibility Letter of Approval.
After 1-3 years of residence (depending on your investment), you must submit all the necessary documents to apply for Malta citizenship.
Then you and your family can move to Malta, and after 1-3 years, you become naturalized as Maltese citizens and can obtain your passports.
The actual process of the visa application can take anywhere from four months to a year. In addition to that, you need to live in Malta for at least one year before you can apply for Maltese citizenship.
Alongside the primary investment, when you apply for a Malta Golden Visa, you can expect to pay tens of thousands of euros in additional fees. This includes, but is not limited to, an administrative fee of EUR 40,000 for the visa application and due diligence fees. Overall, the fees for a Malta Golden Visa, including the acquisition of documents, legal fees, and services, can add up to over EUR 50,000.
The benefits of becoming a Malta citizen is really good! Becoming a citizen of Malta comes with the following benefits:
Naturally, once you have a Malta passport, you are not at risk of losing it for minor transgressions, such as being out of the country for longer than six months. However, they can revoke your Malta citizenship (obtained by naturalization) if you obtained it illegally or if you become involved in terrorist organizations. You could lose your Malta Golden Visa if:
If this is the type of visa for you, you need to act fast. Not because there's a limited number of applications they accept but because it's so exciting! It's a happy, new chapter in your life, and like my friend Donald Duck always says, "Happiness is the richest thing we will ever own."
The family members who are eligible dependents for a Golden Visa are:
They could reject your application for a Malta Golden Visa if you or a family member applied for Malta citizenship in the past and have been refused. You or a family member have been charged or found guilty of charges related to:
They can also reject your visa if you or a family member are guilty of a crime that resulted in imprisonment of more than one year. Also, if you or a family member is interrogated or a suspect of a crime, which then leads to the imprisonment of more than one year.
The Maltese authorities suspect that your funds are not obtained legally.
Yes, you can include up to four generations of your family in your Malta Golden Visa application: your partner, children, parents, and grandparents.
Specifically, you can include the following family members as your dependents:
In addition, all children born after you or your family obtain Malta citizenship will automatically be considered Maltese citizens by descent.
If you have a Malta residence permit through the Golden Visa program, you don't require a Schengen Visa to travel to other Schengen Area countries for short stays of no more than 90 days in 180 days. As a result, obtaining a Europe golden visa through Malta can make it significantly easier for business professionals outside the EU to do business in all 26 Schengen countries. In addition, Malta residence permit holders can enjoy visa-free travel (you don't need a visa) to the following countries.
Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Lichenstein, Lithuania, Luxembourg, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, and Switzerland.
Yes, Malta allows dual citizenship to keep your birth nationality. However, your current country of nationality must also allow double citizenship for you to keep both.
Japan, Montenegro, the UAE, Indonesia, China, Thailand, etc., do not allow dual citizenship. So, if you are from one of these countries and try and obtain a Malta passport, you'd have to give up your current citizenship.
Citizenship by investment programs (Golden Visa) is available across Europe, the Caribbean, and America. Countries like Portugal, St Kitts, Turkey, Greece, Germany, and many more offer a Golden Visa to investors.