Malta – still the best choice for Residency by Investment – Asian Wealth Management and Asian Private Banking
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1. What is the reason why Malta has remained at the top of the Henley & Partners Global Citizenship Program Index for the last seven years?
2. What are the investment options under the new regulations?
3. How long is the minimum stay requirement in Malta under each of the residence options?
4. How long does the MESDI application process take?
5. Can a residence permit granted for MESDI purposes be withdrawn if the application is rejected?
Video transcript
1. What is the reason why Malta has remained at the top of the Henley & Partners Global Citizenship Program Index for the last seven years?
The main reason is that Maltese citizenship is granted a visa-free entry or visa upon arrival in 185 countries, including the Schengen Area of Europe. Other benefits attributed to Malta’s top spot in our Global Citizenship Program Index include the free tuition of the University of Malta for the children of current residents, and the reputation renowned for its excellent healthcare system. Malta is part of the Council of Europe, the Schengen Area of Europe, and the European Union, with a very high standard of due diligence and verification of applications. It also has an English-speaking population, which makes integration and communication very easy for foreigners.
2. What are the investment options under the new regulations?
Therefore, applicants have two options to choose from. Or they can invest and make the program within 12 months or 36 months. The cost for the 12-month program is € 750,000, and the contribution is made to the government. For the 36-month selection, there is a contribution of € 600,000. For both options, a donation of € 10,000 must be made to a church organization. When it comes to property, applicants have the option of either buying the property with a minimum value of € 700,000 or renting a property of a minimum of € 16,000 per year. Thus, it will give us almost 888,000 for the 12-month selection and 738,000 minimum investments for the 36-month selection.
3. How long is the minimum stay requirement in Malta under each of the residence options?
Therefore, for each of the residence options, there is a minimum physical stay of 21 days in Malta. The only difference is that for the 12-month option, there would only be 21 days. For the 36-month option, there must be a 21-day physical visit per year, and this is for the lead applicant and any other dependents, who may be the spouse, other children, or any parent. employees.
4. How long does the MESDI application process take?
Michael, the process takes a minimum of 15 to 18 months. Now, within these 15 to 18 months, we will receive approval from the government stating that clients are eligible to continue the program, and so this is when we move on to submitting an application for citizenship. Depending on the choice the applicant has made from the outset, the application for citizenship must be submitted either immediately after the end of 12 months of residence or immediately after the end of the 36-month residence. Following the application for citizenship, a second review will be conducted by the government agency, leading us to final approval. Once final approval has been received, applicants will have to submit proof of their link with the country within four months of the letter of approval. Once this has been done, it will be followed by the oath of allegiance to be sworn in within six months of the letter of approval.
5. Can a residence permit granted for MESDI purposes be withdrawn if the application is rejected?
Therefore, according to MESDI rules, the residence card is issued only for the purpose of the program. Therefore, if the client is not eligible to continue applying for citizenship or does not make it or withdraws his application, the card will automatically be revoked.