In this post, we will look at why I believe Malta is the best country in Europe for a second passport. If you want the best second passport in 2018, you should consider Malta. Yes, a second passport from Malta is expensive, very difficult to get, and requires a significant investment. But, if you want a passport from a top EU country with all the rights that this entails, I suggest you consider Malta.
First, let’s take a look at why Malta is a great place to live. Then, we will discuss how to get a second passport from Malta.
In the vast and beautiful continent of Europe there are a lot of hidden treasures to see. Many tourists head to Paris, Rome, Madrid, cities that have been Americanized to accommodate with the massive flock of travelers taking the same pictures and going to the same landmarks over and over again. What if I told you there is a country that still has all the elements and charm of Old Europe
Imagine spending your holidays on the shores of the Mediterranean Sea being able to immerse in its waters only to exit and face a city full of colors and life. It is impossible not to fall in love with Malta. The sun shines all year, there are more beautiful beaches than you could wish for, a vibrant nightlife and plenty of options for sports and adventure.
Traveling to Malta is like stepping back in time, as it’s full of old buildings and towns that seem to be from another time Although it‘s a relatively small islands, it has many points of interest for tourism, some of them declared a World Heritage Site.
Malta is an archipelago formed by 3 islands, first is the Island of Malta, then there is the Island of Gozo and finally the two islets Fifla and Cominotto. Currently, Malta is an independent country, member of the European Union, with an extension of 316 km 2 and 413,609 inhabitants.
Due to its strategic location, a point of union between the European and African continents, the archipelago of Malta has been “disputed” by many countries throughout history. In fact, until 1964 the island was subject to the English crown.
Malta’s advantageous geographical location has allowed it to have connections with more than 165 ports on all continents and has the largest registry of European Union ships, as well as one of the largest worldwide.
Malta offers a strong economy that has been little affected by the recession, a high standard of living and a safe environment. Its parliamentary system was based from that of the United Kingdom. The Government is headed by the Prime Minister and the President.
The Republic of Malta offers the possibility of applying for citizenship and obtaining a second passport with all the advantages that this entails. Malta has been a member of the European Union since 2004, so acquiring a second passport from Malta implies having the benefits of being a citizen of a country with access to many different economies and the right of “portability” for your business throughout the EU.
Malta’s second passport project is the first citizenship by investment program of its kind recognized by the European Commission. Also, the executive body of the European Union has formally recognized the legality of the program paving the way for its success.
If you’re a high net worth individual then you can obtain a second passport by investing in Malta, which consists in making a contribution to the government of 1,150,000 euros. Besides you have to consider the cost per person which is:
- Main solicitant: 7,500 Euros
- Wife: 5,000 Euros
- Children under 18: 3,000 Euros
- Single Children between 18 and 25: 5,000 Euros
- Older Dependants: 5,000 Euros
Because Malta’s program is very difficult to complete, and because the government is extremely cautious about who they accept, legal fees will be high. You should budget at least $100,000 for the process.
In order to qualify for the citizenship by Investment program in Malta you must invest in the following three projects. The social and national development fund, real estate properties, and financial instruments approved by the government.
Social and National Development Fund: Applicants must make a minimum contribution of EUR 650,000 to a government projects that support the developmental growth of the island, in addition to a contribution of 25,000 euros for the spouse and for each minor child if applicable, and a contribution of 50,000 euros for each dependent child between 18 and 26 years of age, as well as for each dependent parent over 55 years of age.
Real Estate Investment: Applicants must also commit to maintaining a residence in Malta for a period of at least five years, either through the purchase of a property, which must exceed the minimum value of 350,000 euros or by leasing a property , whose minimum rent must be above 16,000 euros per year.
Financial Instruments approved by the Government: Finally, applicants must make an investment of 150,000 EUR in financial instruments approved by the Government, such as bonds or shares, which they must maintain for a minimum period of 5 years.
The government of Malta, through the corresponding agency, will evaluate each application exhaustively, to make sure that the applicant and its dependents comply with the requirements and are people who do not represent a threat or danger to the good name of the Program.
Malta’s program is more expensive than others, but unlike other European countries, it offers citizenship after only one year. Also, a second passport from Malta gives you visa free access to Canada and the United States. Even better, you can live and operate a business ANYWHERE in the EU with a passport from Malta.
I hope you’ve found this article on Malta to be helpful. For more information, or for assistance in investing in Malta or opening an offshore company, please contact us below by filling out the form. Thank you.