Published at: 13/06/2020 12:00 pm
In September 2020, the Maltese government changes the citizenship by investment program (IIP) to a fast-track residency by investment scheme, which leads to the naturalisation and passport.
Until 14 August 2020, you still can apply through the original Individual Investor Program. Discus Holdings Ltd is an official agent of Maltese citizenship and residency by investment programs. If you prefer to start your application, save money and time, then click here for the detailed information!
What is the difference between the Maltese citizenship by investment program and the new fast-track residency by investment program, which leads to citizenship?
· Applicants must reside in Malta one to three years before obtaining the citizenship.
· The residential real estate purchase (or rent) requirement's value doubled. (property purchase of 700,000 euros or annual rental fee of 18,000 euros.
· The number of successful applicants can be a maximum of 400 per year, and the program is capped at 1,500 (the IIP scheme's cap was 1,800).
· The new program has two investment options:
1. The applicant can apply for citizenship after one year of residency in Malta and the investment of 700,000 euros.
2. The applicant can apply for citizenship after three years of residency in Malta and the investment of 600,000 euros.
The most significant legislative modification, to change the direct citizenship in exchange for investment scheme to a "fast-track residency to citizenship program ". However, the actual time-frame of the process did not change significantly. Under the IIP, the applicant was resident for a year before obtaining citizenship. Now the applicant must become a resident for one year to start the process. We can note that the difference between the two citizenship solutions is only a couple of months because of the process.
The new program and its requirements are still under political discussion, but the legislators may accept the amendments of the law in September.