The Global Residence Programme (also called Individual Investor Programme) in Malta was launched about half a year ago. The program offers non-EU/EEA nationals the opportunity to acquire the Maltese citizenship through a donation into the Maltese national fund and an investment programme. In this article I would like to describe the different European programmes for acquiring citizenships or a permanent residency. These programs vary greatly in the amounts that need to be invested and if a citizenship can be acquired.
United Kingdom
An investment of at least £1 million must be made for five years. This consists of £750,000 in government bonds and additional £250,000 in real estate. The investor and his family will get a temporary resident visa which is valid for three years. After that it will be extended for another two years. The permanent residency can be acquired after five years. After six years of residence, a British passport can be applied for.
Ireland
The amount of investment for Ireland depends on the nature of the investment, but ranges between €500,000 and €1 million. A temporary residence permit is issued for two years, and after that it can be renewed for an additional three years. The investor and the family can apply for permanent residency and the citizenship after five years of residence.
Cypus
By far the country with the highest amount of investment is Cyprus. They require an investment of between €3 million and €5 million. Another option is a loan with an additional donation of €300,000, it all depends on the types of investments or loans. The investor and their family will get the citizenship immediately, no temporary residence is necessary.
Austria
There are two different options available in Austria. In the first it is necessary to invest between €6 million and €10 million into businesses, and the investment must create new jobs for the citizens of the country, or benefit the export or technology knowledge of the country. The second option is a donation of €2 million to a charitable organisation in Austria that supports cultural or social projects. The investor will get the citizenship of Austria in return.
Germany
To acquire a permanent residency in Germany an investment of at least €250,000 must be made into a German business that will create new jobs for citizens of the country. The investor can then apply for a temporary residence for one year. After this it can be extended, and after five years investor can apply for permanent residency. However Germany follows a very strict regime of assessing applicants to give them the temporary residency. The business has to be very good, it is more likely to get the residency if the business investment is €1 million or more. After eight years of being resident in Germany, it is possible to apply for the citizenship.
Latvia
To get a residence permit for Latvia the investor has to buy real estate valued at least €71,500 in rural areas or €143,000 in big cities. The investor and his family can get a temporary residency for five years, which is renewed annually after that. If the investor has lived in Latvia for 10 years it is possible to apply for the citizenship.
Portugal
To become a resident in Portugal the investor will have to buy real estate valued at least €500,000. Then a temporary residency, and after five years a permanent residence permit is issued. Citizenship can be acquired after six years of residence.
Bulgaria
To become a resident in Bulgaria the investor has to invest a minimum of around €512,000 in government bonds for at least five years. It is also possible to fast track this by investing double the amount. A permanent residency is issued to the investor and his family, and after five years they can apply for citizenship. When the doubled amount is invested, the citizenship will be granted after one year of permanent residency.
Malta
To acquire citizenship in Malta through the global residency program it is necessary to make an investment of €500,000, of which €350,000 are going to property acquisition and €150,000 into bonds. Then an additional €650,000 have to be donated to the national fund. The Maltese residency will be awarded immediately, it is not necessary to have a temporary or permanent residency first.
In my opinion, Malta offers the best residency scheme for people who want the citizenship as soon as possible. Since Malta is part of the European Union, the citizenship would mean that the investor and the family can choose to live wherever they want within the European Union. It is not necessary to stay in Malta for any length of time. However having said that, Malta is a beautiful country in the Mediterranean and I would definitely recommend to everyone to stay here for a bit and to enjoy life.
If you are interested in the Global Residence Programme of Malta, or if you have further questions, you are welcome to send us a message to the office of Dr. Werner & Partner. We are handling applications in collaboration with another office, and we would be happy if we could be of assistance to you in this matter.
