How to Get a Maltese Passport an Alternative Option in Residency
Malta is considered by many to be an ideal country for a second passport. Not only does it have a rapidly growing economy but it also offers a beautiful Mediterranean location with relaxed island living, excellent infrastructure, and easy access to mainland Europe as well as Africa and the Middle East.
Luckily, you don’t need a Maltese citizenship to avail all the benefits Malta has to offer. Instead, you can take a faster route by becoming a Maltese resident. Below, we explore how residency works and why it is a good alternative option for those considering how to get a Maltese Passport.
- What is residency?
Residency is when you are granted the right to live in a country for a specified period of time with the right to work and, usually, to own property. Whilst residents do not have all of the rights citizens enjoy, typically they are eligible for a wide range of valuable services, such as education and healthcare. Many people considering a second passport have come to realise that residency can be a more cost effective and efficient path to a successful future for them and their family that applying for citizenship.
- How can I secure residency in Malta?
Malta’s immigration by investment program offers a straightforward and popular avenue for securing your residency. For this option, investors must provide proof of funds, and once they complete this step, they can choose from three types of investment options.
What are the three types of investment available?
(1) Purchasing a property
You can live in your purchased property or lease it out, but there are important rules and regulations regarding what type of property you can buy, where it is located, and much more – all of which can affect your residency application.
For more information regarding Malta’s requirements, get in touch with us.
(2) Contribute to the Maltese government
Making a non-refundable contribution to the Maltese government is a simple, straightforward way to secure your residency. Whilst you do not have the benefit of owning a property, this option takes less time and effort and is well suited to those whose primary objective is to complete the process as swiftly as possible.
For more information on what is required for this investment option, contact us by clicking here.
(3) Invest in government bonds
If purchasing property and contributing to the Maltese government doesn't sound like the right approach for you, there is also the option of investing in government bonds. There is a modest rate of return and the country enjoys an ‘A-’ from Standard & Poor’s. With this option, investors must retain their bonds for a minimum period of five years.
For more information on investing in Maltese government bonds, contact us by clicking here.
- Are there many benefits to Malta’s residency program?
Yes! Becoming a resident in Malta has multiple benefits, but there are five that stand out.
(1) Once the investment has been made, physical residency in Malta is not required.
(2) The freedom to live and work in Malta.
(3) Dependents may also be included, allowing up to 4 generations of families per application.
(4) There is no taxation on foreign income, which is an important consideration for many investors.
(5) Visa-free travel within Schengen zone for work and leisure (26 countries including Iceland, Norway and Switzerland)
- How long is the processing period?
The processing period requires a minimum of four months.
- How do I apply?
Though applying for Maltese residency is not overly complicated, working with professionals who understand each step will ensure a smoother process. If you’re interested in learning more about how you can get Maltese residency, and the finance options available, get in touch with us today to discover more about this time-saving and cost-effective option.