The island nation enjoys a favorable economic position and is one of the most visited parts of the world. The Mediterranean Sea washes the shores, and the pleasant climate allows you to settle on the "honey" island not only for a short time but for life.
Many people, including Americans, seek to move permanently to have a backup if something goes wrong at home. The most correct solution is to invest in the state's economy to get to the island as a permanent resident. This way, you can get a second Maltese citizenship for Americans quickly and without problems and have not one passport but two.
Despite being the smallest country in size and population, the Republic has an outstanding historical and cultural heritage covering more than 7,000 years. With the highest GDP growth rate in Europe, the state has one of the fastest-growing economies in Europe. The state is a unique and promising business place, offering favorable legislative conditions and a competitive tax system.
Overview of Maltese Investment Program
Since November 20, 2020, the newest program to obtain Malta citizenship for investment based on direct transfers for exceptional merit has been in place. The system allows successful foreign candidates, including Americans, to apply for a passport by naturalization 1 or 3 years after issuing a residence permit.
Under the terms of the program, the investor will need to make:
- A contribution to the National Development Fund in the amount of €600,000 (for citizenship after 3 years) or €750,000 (for citizenship after 1 year).
- In addition, a charitable donation of €10,000 to a non-governmental organization will be required.
- Moreover, it will be necessary to buy real estate on the island for €700,000 for a minimum period of 5 years or rent premises for €16,000 for a period of 5 years.
The program has a quota of 400 approved applications per year, and the total number of approved documents cannot exceed 1,500.
Benefits of a Maltese Passport for Americans
Unprecedented opportunities will open before a cosmopolitan, so it is only necessary to take advantage of the program and deposit a certain amount of money into the treasury account. Firstly, the "doors" to the EU countries will open, and it will be possible to travel without visa, social ties will improve, and it will be possible to freely develop your business in different countries simultaneously. The document gives many rights and freedoms, and here are some of the benefits:
- global mobility: 182 countries, including the EU and the UK - for Americans, this can be convenient for traveling in Europe;
- by law, you can hold another citizenship alongside your Maltese citizenship, which can be useful for global opportunities and investment;
- a favorable business climate: the Republic offers tax incentives for businesses and individuals, which is attractive to U.S. citizens looking to register a company or invest;
- access to European educational institutions and medical care.
Remember that each situation is different, and the decision to obtain citizenship should be made after carefully analyzing your needs and circumstances.
Steps to Obtain Maltese Citizenship by Investment
First, you need to choose which investment path is suitable:
- renting apartments for a long term (5 years);
- or buying an apartment.
Along with each of these options, there must be a donation to charity in the amount of 10,000 euros and a donation to the NDSF structure (600,000 euros if you want to receive in 3 years and 750,000 euros if you want to receive in 1 year).
Then, the investor acts as an applicant and fills out a form with his data and citizenship application. This way, obtaining a Maltese passport for Americans in a short period is possible. However, the documentation can take longer than six months to consider. After approval, it is necessary to swear an oath of allegiance to the State and make an investment. After the certificate of naturalization, you can also obtain a passport. The procedure is the same for dependents traveling with the applicant
Requirements and Documentation Needed
Before you can apply for Maltese citizenship for American citizens, you usually need to:
- Live for a certain period (usually at least 12 months).
- Know one of the official languages, such as Maltese or English.
- A good level of financial solvency and/or investment in the economy.
- Convince the competent authorities of your sincerity and trustworthiness.
However, it is recommended to consult legal advisors for accurate and up-to-date information on the process of the application and to know the requirements. The government is careful to ensure that all data is accurate, actions are legitimate and papers are not fake. In-depth individualized verification allows only responsible, healthy and successful people without criminal records to be admitted.
Bottom Line
So, the dual citizenship of the European republic and the USA is an excellent opportunity to expand business opportunities and travel openly. In contrast to the Caribbean powers, some disadvantages are a more extended consideration of applications, careful checking, and serious requirements. However, moving to this country and obtaining residency is worth the wait. Malta surprises with its climate, diversity of cultures and traditions, preserved ancient buildings, and the peacefulness of the population. All this awaits every foreigner who decides to draw up documents and make an investment to become a full-fledged citizen eventually.
