How Malta citizenship by investment works

If you’re considering getting a second passport, citizenship by investment programmes are a good way to reach this status. One of the countries offering this type of scheme is the beautiful Mediterranean island of Malta.

In this guide, we’ll introduce you to the essentials of obtaining Malta citizenship by investment as a UK citizen. We’ve included information about the costs, requirements and benefits of taking this route.

How do citizenship by investment visas work?¹

A citizenship by investment visa allows you to obtain a foreign passport by making a substantial financial contribution to that country’s economy. This can be done through investing in real estate, government bonds or national development projects.

Malta citizenship by investment²

The new route for Malta citizenship by investment is now called the Maltese Exceptional Investor Naturalisation programme (MEIN). The required investments include government contribution, donations and property investment.

The scheme is limited to 400 successful applicants per year or 1500 applicants in total. Unlike the old Malta Investor Programme, you now need to prove that you’ve been a Maltese resident for at least 12 months.

📚Read: Moving to Malta

Malta citizenship by investment requirements²

In order to qualify for the Malta citizenship by investment scheme, you need to contribute to the Maltese government. This amount is at least €600,000 after 36 months of residency or €750,000 after residing in the country for 12 months. You also need to donate at least €10,000 to any organisation approved by the Community Malta Agency.

Since there have been concerns about rising housing markets, investors now have to buy a residential property worth at least €700,000 and hold it for at least five years in order to apply for MEIN. You’re not allowed to sublet or sell this property during these five years. An alternative is renting a residence in Malta for at least €16,000 per year.

How long does it take?²

The entire application process usually takes between 12 and 18 months. The processing and compliance time each take around four months and you also need to complete the 12-month naturalisation process.

How much is a citizenship by investment visa in Malta?³

Along with the investments, there are also some fees you need to pay in order to apply for the Malta citizenship by investment visa:

• €1,000 per dependent in residence application fees
• €27.50 residence card fees
• A €15,000 due diligence fee
• €10,000 for adult dependents
• €1,000 in administrative fees
• €500 in application fees per applicant

Since you’ll have plenty of visa fees to cover, you’ll need a cost-effective way to manage them all in a foreign currency. The Wise account from the money services provider Wise allows you to send and receive money from 160+ countries with mid-market currency exchange and low, transparent fees*.

Benefits of Malta’s citizenship by investment visa²

Here are some benefits you’ll have if you get this visa:

• Visa-free travel to 180+ destinations
• Working and studying in the EU
• Access to free Maltese schools and universities
• Free access to Maltese healthcare
• Quality of life

Can you retain your original citizenship and passport?²

You can retain your UK passport, since Malta allows dual citizenship.

Manage your money internationally with the Wise multi-currency account

Getting a Maltese passport via citizenship by investment is a good option for wealthy individuals who do not wish to take the traditional long route. Hopefully, you should now have a better understanding of how this scheme works, but make sure to keep an eye out for any updates.

Applying for Maltese citizenship in this way requires thorough financial planning. Opening a Wise account can help you avoid any additional hidden costs and allow you to send money from the UK with low fees*.

The Wise account can be used in multiple countries as an alternative to traditional bank accounts, including Malta. It comes with transparent fees* and uses the mid-market exchange rate for all transactions.

Your Wise account awaits 🌍

You can even rely on Wise’s specialist team for large amount transfers to move larger amounts of money, such as those needed for your citizenship by investment visa.

Make your large transfer

Malta citizenship by investment FAQs

Here are some of the commonly asked questions about the Malta citizenship by investment programme:

Why was Malta’s citizenship by investment visa controversial?

The European Commission expressed concerns about Malta previously offering citizenship in exchange for around €1 million in investments, which they said allowed wealthy individuals to buy citizenship.⁴ However, the EU’s top court has since determined that each member state has the right to grant citizenship to anyone they deem adequate.⁵

How hard is it to get citizenship in Malta?²

Becoming a Maltese citizen through investment is the quickest route, since you can even apply after 12 months.

Is the golden visa for Malta the same as citizenship by investment?⁶

They’re not the same. The Maltese golden visa scheme helps investors obtain permanent residency, not citizenship.

What is the residency by investment timeline for Malta?⁶

The residency by investment processing time can vary, but it generally takes a few months.

How much money do I need to move to Malta?²

If you’re taking the investment route, you need to contribute at least €600,000 in government fund investments, upwards of €16,000 in annual rent and a donation of at least €10,000 to any organisation approved by the Community Malta Agency.

Sources used:

1. Global Citizen Solutions - citizenship by investment schemes
2. Get Golden Visa - Malta citizenship by investment
3. CBS Group - Malta citizenship by investment
4. Euronews - EU refers Malta to court
5. Euronews - EU court allowing Malta passport scheme
6. Global Residence Index - MEIN vs Golden visa

Sources last checked on date: 28-Oct-2024