Malta further strengthens its citizenship structures as its economy continues to lead within the EU
Deloitte Malta news alert
16 July 2020
Despite the onset of COVID-19, Malta’s economy continues to perform well above average both within the Eurozone and more generally within the European Union. Whilst 2020’s expected negative growth of 6% is the lowest in the Euro area, the European Commission’s predicted 6.3% GDP growth in 2021 is one of the highest of all EU countries.
Given the strength of Malta’s economy, the need for further regular migration flows into the country will persist, including persons with special talent and skills. In this context, Deloitte Malta’s dedicated Immigration and Global Employer Services teams continue to support both individuals and organisations requiring immigration outcomes, whilst of course meeting all requirements under the applicable laws and regulations.
In this context, it is important to note that following a wide consultation and reflection, the Government of Malta is revamping entirely its citizenship legislation to create a single Agency charged with granting citizenship across a range of registration and naturalisation situations. Amongst the routes available for obtaining citizenship is a route based entirely upon exceptional merit as well as a special route for economic investors, who may apply for citizenship but only after completing one to three years of mandatory residence.
As regards the latter route to citizenship, the following features are expected:
- A limited cap of just 1500 applicants with maximum of 400 applicants approved in any given year;
- Enhanced due diligence and risk control remains primary objective of the authorities;
- Applicant must reside in Malta for at least 12 months and have their background checks fully completed before they are able to apply for citizenship;
- Rental of property at minimum €18,000 per year or purchase of residence at minimum €700,000;
- Contribution to registered voluntary organisation/s of €10,000;
- Contribution of €600,000 for main applicant and expected €50,000 for each dependent in the case of citizenship application after three years residence; and
- Contribution of €750,000 for main applicant and expected €50,000 for each dependent in the case of citizenship application after one year residence.
Applications for residence under this programme will shortly be possible. For further details on any of our Immigration and GES services kindly contact Chris Curmi, Jonathan Galea or James Bonavia.
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