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Immigration is something that has happened for centuries, with people moving around the globe and putting down roots in a different country. But residency and citizenship can be very difficult to come by depending on the country a person wants to move to, which has led to people being a bit more creative.
One of the biggest trends of the moment is wealthy Asians who are now on the lookout for easier alternatives to getting EU residency and citizenship, but do those alternatives exist? Let’s take a closer look.
It’s not every country that offers people a simplified way to move there and get citizenship but thanks to the Malta residency by investment program, this is the door that has been opened to those that have money for it. And because Malta is a part of the EU, it has positioned itself as a very attractive option.
The Malta citizenship by investment program may not be something you’ve even heard of, and much of that can be attributed to the fact that it is relatively new. The program makes it possible for individuals and family dependents to make a direct investment in the country and then become naturalised as Maltese citizens. Wealthy Asians looking to get their foot in the door can immigrate to Malta and enjoy all it has to offer.
The program is described as an “expedited route for citizenship” which benefits Malta in a couple of ways. First, there is the investment portion, wherein the country will benefit from the influx of money and there is the fact the people the program is attracting can come from anywhere in the world and tend to be quite affluent – as they need to be able to afford this option.
There are a few direct investments that are required, which are the government contribution, a property investment, and a compulsory donation. It’s important for anyone considering this route to look at the full costs/investment involved to ensure they have the full picture. It’s also worth noting there is a 12 or 36-month route to residency, which affects the steps and costs involved.
The residency through investment program can make EU citizenship a much more viable option, but what about Malta itself? Why move to a small country that for some may seem very removed from mainland Europe?
Malta boasts many benefits for those looking to immigrate to the EU. Take, for example, its location, which is the middle of the Mediterranean Sea. This makes it easy to travel to all kinds of other cities such as Rome, London, Barcelona, Paris, and Frankfurt. The furthest is London, which is only a three-hour flight. From each of these key airports, you can then get connecting flights to other major cities around the world.
While the main reason to move to Malta may be to get EU citizenship, it’s well worth noting that Malta’s economy is doing very well. From 2014 through 2016, Malta had one of the fastest-growing economies in the EU. The biggest industries in the country are finance, tourism, and online gaming.
This category is especially important since you will need to purchase a property to qualify for citizenship by investment. There is a minimum amount that must be spent on the property too, which wealthy Asians should have no problem meeting. Relatively speaking, property prices are considered quite affordable, with higher-end exclusive properties also being available.
Just like with most other countries, property prices have risen in the past decade but remain on the lower end in comparison with some other European countries.
Concerned about a potential language barrier when moving to Malta? While it’s true that Maltese is spoken, so is English. English is widely used across all the Maltese islands which makes a language barrier much less likely.
One would be remiss to talk about moving to Malta without also mentioning its weather. For those who enjoy sunny days with comfortable temperatures, Malta will be perfect. You can be outdoors year-round and the country boasts a whopping 3,000+ hours’ worth of sunshine per year. The daytime highs reach 30°C in the middle of summer (July) and dip to about 15°C in the middle of winter (January).
So for rich Asians who are keen on EU citizenship and are looking for an easier, faster, and more direct solution, Malta’s residency by investment program is well worth looking into. It provides people with all the comfort and security of living in the EU in a rather timely manner.
