A Second Passport from Malta
Of course, cheap is a relative term. A second passport from Malta is much less expensive than a passport from Austria, but about triple the cost of a second passport from Dominica.
Here’s what you need to know about a second passport from Malta.
Having a second passport is like an insurance policy covering sudden unpredictable threats. It could be social movements, political issues, economic issues, currency devaluations natural disaster and the list goes on.
In today’s world we have options for cell phones, bank accounts, insurance. A second passport is the most important option. The second passport is the pinnacle of the asset protection, privacy, offshore, and 5 flags systems.
For instance the government of your country would like to freeze your passport and take all your money for any reason whatsoever. What would you do then? Live like a political prisoner in your own country? It’s time to apply for a second passport before any such dreadful dreams come true.
Malta is one of the best second passport available, here’s why:
– Malta offers visa-free travel to more than 160 countries including EU, USA, Canada
– Malta is a member of the European Union, and hence Maltese passport holders make right to live and work in any of the other 27 countries
– Malta proposed €650,000 economic citizenship program (less than most EU second passport offerings)
– Approval of Citizenship is usually only 4 months
– The residency comes in a fast- track mode within 1 to 3 weeks & Schengen mobility of 18 months
– Malta second passport family eligibility includes parents of the immediate applicant, spouse, minor/ adult children, and unmarried dependents. Descendants are automatically entitled to citizenship thereafter.
– Malta is a safe option to be considered. It is a stable country with friendly people, a European lifestyle and Mediterranean quality of life
Taxation of Malta second passport holders is based on domicile and residency and not citizenship. Which means that a person who is residing in Malta for 183 days in a year shall be taxed on income from Malta, not their worldwide income. Malta taxes your local source income and not your foreign source income.
If you become a citizen of Malta, but do not live there more than 183 days a year, Malta will not tax your income. This is especially important for capital gains and investment income.
I hope this post on the Malta second passport has been helpful. Please contact me at email@example.com for a private consultation.