- September 27, 2017
- Posted by: CIP Journal
- Category: Citizenship
Malta and Cyprus are the only official EU citizenship by investment programs running in Europe. There are few subtle differences between the two citizenship schemes in Europe.
- Malta is cheaper than Cyprus CIP
- Malta has visa waiver with United States while Cyprus does not.
- The time to acquire passport in Malta is 12-25 months while Cyprus is about 6 months.
- Malta and Cyprus both requires residency before being granted citizenship (rent or lease a property).
- Malta requires 650,000 euro donation to fund while Cyprus is purely recoverable investment in real estate or bonds (no money wasted)
|Citizenship by investment started in||2014||2012|
|Citizenship Act||MALTESE CITIZENSHIP ACT (CAP. 188)
Individual Investor Programme
of the Republic of Malta Regulations, 2014
|Scheme for Naturalisation of Investors by Exception on the basis of subsection (2) of section 111A of the Civil Registry Laws of 2002-2013|
|Minimum investment||€ 900,000||€ 2,000,000|
|EU member state||Yes||Yes|
|Citizenship time||12-15 months||6 months|
|Processing time||90 days||90 days|
|Passport validity||10 years||10 years|
|EU citizenship for family and children||Yes||Yes|
|Residence requirements||12 months (e-residence card must)||6 months (PR must)|
|Qualifying investments for citizenship|| € 650,000 one time donation to National Economic Fund + €150,000 Bond shares + Renting a housing for €20,000 per yearNational Economic Fund Contribution
(a) Main applicant: EUR 650,000 (six hundred and fifty thousand euro), of which a non-refundable payment of EUR 10,000 (ten thousand euro) shall be remitted as a non-refundable deposit prior to submission of the application;
(b) spouse: EUR 25,000 (twenty five thousand euro);
(c) for each and every child below 18 years of age: EUR 25,000
(d) for each and every unmarried child between 18 years of age and 26 years of age: EUR 50,000 (fifty thousand euro);
(e) for each and every dependant parent above 55 years of age: EUR 50,000 (fifty thousand euro).
| € 2,000,000 in real estate, cyprus businessesor
€5,000,000 in bonds or bank deposits
|Additional fees||(1) Due diligence fees:Main applicant: EUR 7,500 (seven thousand five hundred euro); EUR 3000 for children 13-17 of age and EUR 5,000 for children 18-26 years of age, EUR 5,000 (five thousand euro); for each and every dependant unmarried child between 18 years; for each and every dependant parent above 55 years of age: EUR 5,000 (five thousand euro).
(2) Passport fees:
Passport: EUR 500 (five hundred euro) per person;
(3) Bank charges:
EUR 200 (two hundred euro) per application.
|Purchase of home||Must Rent or buy a private home for € 350,000 euros or more||Purchase of home worth atleast € 500,000 is required|
|Health insurance||Coverage must for EUR 50,000 per dependent||Coverage must with coverage EUR 50,000 per person|
|Program limits||1800 applications||no limits|
|Real estate property||optional investment of atleast EUR 350,000 in Maltese real estate||€ 2,000,000 euros|
|Business investment||option not available||€ 2,000,000|
|Visa free travel countries *||167||158|
|Passport rank *||10||16|
|Visa not required**||United Kingdom, Canada, United States (esta), EU member states, Australia, New Zealand||United Kingdom, Canada, EU member states, Australia, New Zealand|
|Taxes||Based on residency (not citizenship) over 183 days of living||Based on residency (not citizenship), usually over 183 days of living in the country.|
|Permanent Living||No requirement to live permanently in the country||No requirement to live permanently in the country|
|GDP (PPP)||$16.3 billion||$27.5 billion|
|Public Debt||73% of GDP (2013)||111.1% of GDP (2013)|
|Geography||Malta is an archipelago in the central Mediterranean south of sicily with fortresses, megalithic temples and the ?al Saflieni Hypogeum, a subterranean complex of halls and burial chambers dating to circa 4000 B.C. The main coastal resorts and larger sandy beaches are in the northern part of Malta.||Cyprus is known for beaches, it also has a rugged interior with wine regions. Coastal Paphos is famed for its archaeological sites relating to the cult of Aphrodite, including ruins of palaces, tombs and mosaic-tiled villas.|