Many people wish to gain citizenship to Malta and benefit from the 8th most powerful passport in the world. Owning a Malta passport and gaining citizenship in the country opens up a world of benefits, such as having visa-free or visa-on-arrival travel to 186 countries.
However, there are many questions surrounding Malta citizenship by naturalization, with many people unaware of the details involved. Who can apply for the Malta Golden Visa? How long does the process take? These are just two of the many questions regarding this topic, and we at UNO Capital have taken the time to answer these questions for you.
You can find out more about Malta citizenship by naturalization and the Malta Golden Visa below.
Who Can Apply for a Malta Golden Visa?
There are many people want to gain the right to live and work in Malta, and it is easy to see why. With its climate, cuisine, history, and booming economy, Malta is an ideal place to live and work. One of the most frequently asked questions regarding Malta citizenship, however, is who can apply for a Malta Golden Visa?
There are certain criteria that need to be met when applying for the Malta Golden Visa, one of which is applicants must be at least 18 years old. They must also be in good health so as to not cause a significant burden on the Maltese health system, and they must hold a clean criminal record.
In addition to the above, there are certain financial criteria that must be met in order to apply for the Malta Golden Visa. Applicants have to declare an annual income of no less than €100,000, arising outside of Malta, or have capital of no less than €500,000.
Applicants are required to invest in a property in Malta, either through purchase or rental agreement on five-year contracts. To qualify for residency, the applicant is required to make a €30,000 contribution to the government of Malta along with an investment in bonds/shares.
How to Apply for a Malta Golden Visa?
Another question that is often asked is how to apply for a Malta Golden Visa. To make understanding this process easier, we have set it out in stages for you below.
- Travel to Malta to make your investment
- Collect all necessary documents proving you have made an eligible investment
- Submit your Golden Visa application to the Residency Malta Agency
- You and your dependents will receive Malta residence permits
- Within 12 months of receiving residence permits, submit an application to determine your eligibility for Malta citizenship
- If eligible, you will receive an Eligibility Letter of Approval
- After 1-3 years, submit necessary documents to apply for Malta citizenship
- You and your dependents move to Malta and, after 1-3 years, become naturalized Maltese citizens and obtain your passports.
The process to gain Malta citizenship by naturalization can be long and complicated. As you can see from the above, there are many stages and many different applications to submit throughout the process to gain citizenship. This is why so many applicants hire a professional team, such as UNO Capital, to assist with the process.
When you come to us for assistance with this process, we can take you through a simplified 6-step process:
- Step 1 – Initial Due Diligence and Pre-Approval
- Step 2 – Client Agreement and Residence Application
- Step 3 – Secure a Residence in Malta
- Step 4 – Citizenship Application
- Step 5 – Approval in Principle
- Step 6 – Oath of Allegiance and Passport Application
How Long Does It Take to Get a Malta Golden Visa?
While you might hope that you can begin your new life as a Malta citizen quickly, this unfortunately isn’t the case. The process for applying for a Malta Golden Visa is a lengthy and complex one and each application is different depending on the investment type used, nationality, and family situations.
The actual process of the Malta Golden Visa application can take anywhere from four months to a year. This visa will grant you a residency permit, but it won’t provide you with Malta citizenship itself. In order to apply for Malta citizenship, you and all adult dependents must hold Maltese residence status for a minimum of 36 months (or 12 months by exception).
Which Family Members Are Eligible for a Malta Golden Visa?
If you are contemplating living and working in Malta but have family members you wish to bring with you, you will want to find out which family members are eligible for a Malta Golden Visa too. The family members will need to be eligible dependents of yours.
A number of family members are classed as eligible dependents for a Malta Golden Visa, starting with your spouse or partner, with whom you are in a monogamous relationship. In addition to your spouse, any children, including the children of your spouse, who are less than 18 years old at the time of application are classed as eligible dependents.
Any children over 18 who are unmarried and financially dependent on you (for example, students) will also be classed as eligible dependents. Children who are over the age of 18 and are dependent on you or your spouse due to physical or mental disabilities will also be eligible dependents.
Finally, the dependent parents or grandparents of you or your spouse, who are over the age of 55, will be classed as eligible dependents for the Malta Golden Visa.
Reasons Why a Malta Golden Visa Could Be Rejected?
Above, we have gone through the requirements for the Malta Golden Visa, the application process, and which family members will be eligible for a Malta Golden Visa. While most applications for the Malta Golden Visa will be approved as long as the requirements are met, there are some situations where a Malta Golden Visa could be rejected. Below, you can see some of the circumstances that would lead to an application being rejected.
Your application for a Malta Golden Visa could be rejected if you or a family member have applied for Malta citizenship in the past and been refused or if you or a family member have a criminal record.
Finally, if the Maltese authorities suspect that your investment funds have not been obtained legally, your application for the Malta Golden Visa will be rejected.
Can I Hold Dual Citizenship in Malta?
As a resident of your home country applying for citizenship in Malta, you will, of course, want to know whether you can hold dual citizenship in Malta. The simple answer is that yes, Malta does allow for dual citizenship. You can hold another citizenship alongside your Malta citizenship, as long as the other country allows dual citizenship too.
How Strong is the Maltese Passport?
The Maltese passport ranks as the 8th most powerful passport in the world. This ranking is due to the degree of global entry it guarantees. It allows for visa-free or visa-on-arrival travel to 186 countries, including Schengen States, the UK, Australia, New Zealand, the USA, and Canada.
How Much Does Maltese Citizenship by Investment Cost?
An important question to ask before applying is how much does Maltese citizenship by investment cost. The Maltese Exceptional Investor Naturalization (MEIN) offers Maltese citizenship to those who contribute to the economic and social growth of Malta.
There are two ways you can go about investing, and this is either a three-year program (eligible for citizenship after 36 months of residency) or a one-year program (eligible for citizenship after 12 months of residency).
With the three-year program, you must make a main investment of at least €600,000 to the national development fund. For each dependent family member included in your application, you must invest an additional €50,000.
This is followed by an additional residential investment, which is either purchasing a residential estate amounting to at least €700,000 or entering a rental agreement of at least €16,000/year which you must maintain for five years.
Finally, there is an additional philanthropic donation. You must donate at least €10,000 to an approved cultural, scientific, philanthropic, or artistic organization or society.
With the one-year program, you must invest at least €750,000 into the national development fund. This is again followed by an additional €50,000 investment for each dependent family member listed on your application.
You will then need to purchase a residential estate amounting to at least €700,000 or enter a rental agreement for five years with a yearly cost of €16,000. This is followed by the charitable donation of at least €10,000.
Contact UNO Capital Today
So, if you are ready to start the process of gaining Malta citizenship by naturalization, we at UNO Capital are here to assist.