Susan MeierYou may have already heard, that it is possible to ‘buy’ a Maltese passport. Non-EU individuals can obtain a Maltese citizenship. However, it is not just a matter of money, there are also strict requirements on who can obtain a Maltese passport. It is basically not just the purchase (even though it does not come cheaply), it is also an investment programme to attract individuals of high net worth.
The programme has been introduced in 2014, and it enables applicants and their family to obtain a Maltese citizenship, and then being able to enjoy all the benefits connected to being a citizen of a EU member state. For example, residents of Malta have the right to work, travel and live anywhere they wish within the European Union.
How much does it cost to obtain a Maltese citizenship?
The applicant has to pay a certain amount of money that will contribute to the national development and the social fund of Malta. €10,000 have to be paid as a non-refundable deposit when the application is submitted. After the application has been reviewed by the department, and the applicant is accepted, the remaining fees will have to be paid. The main applicant has to pay a fee of €650,000. An additional fee of €25,000 incur for the spouse and children under 18, and for unmarried children over 18, but under 27 and grandparents and dependent parents over 55 will be charged with €50,000 each.
The government also charges due diligence fees that are non-refundable, and vary between €3000 and €7,500. These have to be paid when the application is made, even if the applicant is rejected, the fees are not being reimbursed.
Becoming a resident in Malta with the Individual Investor Programme also has the requirement to purchase or rent a high-value property of either €350,000 purchase value, or €16,000 annual rent. Another obligation is to invest in government bonds or equity funds. At least €150,000 will have to be invested.
These fees seem very high, but keep in mind what you get in return for being a citizen in a EU member state. The citizenship is for life and will only be revoked in special cases where the applicant breaches the terms of the agreement. If you are interested in acquiring the citizenship, we invite you to contact the office of Dr. Werner & Partner. We are working together with a local notary and can support and guide you through the application process.
