Surge in American Nationals Applying for Maltese Residency and Citizenship
US nationals are becoming more inclined towards investing and spending time in Europe. This global migration trend has been prevalent amongst Americans since lots of families have opted to relocate or seek alternative residence and citizenship options. Malta has been a favourite jurisdiction to help them achieve their goals as we uncover below.
Malta as a prime location for USA citizens
Malta is an island in the middle of the Mediterranean Sea with daily flights to major European and International business hubs. As a destination, Malta attracts many Americans due to its splendid climate all throughout the year. This is because the island enjoys 300 days of sunshine and very little downpours. Malta also offers variety in its vibrant standard of living, distinguished hospitality, precious historical sights, a multitude of cuisines offered by the many restaurants scattered around the island and an overall attractive Mediterranean lifestyle. In addition those relocating to Malta, find it easy to integrate with the local community as Malta’s official languages are English & Maltese.
A natural choice
With a significant low crime rate, Malta attracts the interest of many American families who are seeking Permanent Residence or citizenship in a European country offering a very safe environment for their families. Maltese nationals also enjoy free and good quality healthcare and education. The country offers political stability and is always open to encourage foreign direct investment into the country. As a result, many US nationals have set up their business in Malta and are now enjoying the benefits of the Maltese corporate tax system.
Malta Investment Opportunities for US Nationals
Malta is the smallest EU member state but nonetheless having a steadily growing economy. Whilst positively withstanding global instability, the country has experienced vast economic accomplishments. Malta is nowadays considered as one of the best countries where to conduct business and this has attracted the interest of many American entrepreneurs who are engaged in business and commerce.
Investing in Malta is favourable given the multitude of incentives being offered by the country, the island’s competitive tax regime and an advanced legal system. The investments can vary from property purchase, hospitality service businesses, insurance, banking and financial institutions, ICT and gaming setups and company formation with recruitment of highly skilled local workers who speak English proficiently.
Investment in Residency: the Malta Permanent Residence Programme
There are a number of investment migration routes available to US nationals. American expats can apply for Maltese residency through the Malta Permanent Residence Programme (MPRP) which offers beneficiaries permanent residence in Malta from day one. The MPRP serves as an excellent Plan B since it does not necessitate physical residence to maintain its validity. Additionally, it provides an ideal second home option for Americans. The concept of the MPRP is to secure a long-term residence permit that can be activated when necessary.
Maltese Citizenship by Merit
To qualify for Maltese Citizenship by Merit, applicants are required to make an exceptional contribution to Malta for example in the scientific, arts, culture and public health fields. Entrepreneurs, innovators, and philanthropists who have shown outstanding merit, either through significant contributions to Malta, efforts of notable benefit to the country, or impactful work in service of humanity, may also be eligible for Maltese citizenship through naturalisation. In addition, applicants are to demonstrate and explain the source of wealth and funds and undergo a due diligence process.
Acquiring Maltese nationality does not require the renunciation of US citizenship as Malta allows dual and multiple nationality. For those who plan to renounce US citizenship, by acquiring a Maltese passport one would be maintaining the level of travel freedom and global mobility as the Maltese passport allows visa free access to over 190 countries including the US itself.
Citizenship by Merit is only granted at the discretion of the Minister responsible for citizenship, following a formal application procedure overseen by the Community Malta Agency.
Maltese Citizenship with countless benefits
Benefits of Maltese Citizenship:
- Achieve visa free access to more than 190 countries
- Acquire Maltese Citizenship which is also passed on to future generations
- Be able to relocate and reside in any European country
- Have the possibility to work and study anywhere in Europe
- Obtain Dual Citizenship without having to renounce previous nationalities
- Explore the opportunity to do business and invest in Europe
- Reside in a favourable tax jurisdiction
Applicants seeking Maltese Citizenship by Merit must demonstrate a substantial and genuine connection to Malta, in addition to making an outstanding and exceptional contribution.
Maltese Permanent Residence for life
Several US families have selected the Maltese Permanent Residence Programme (MPRP) in order to procure permanent residence for life. This therefore means that the status is retained by all the family members and is even passed on to future spouses and future children of currently dependant kids.
The MPRP programme has three financial requirements:
- Settle one-time government fees:
- €37,000 government contribution AND
- €60,000 government admin fee
- Choose a property for:
- Rent €14,000 per year OR
- Purchase €375,000
- Pay a charity donation of €2,000
In addition to the above, the applicant needs to confirm that s/he owns assets with a value of not less than €500,000 out of which a minimum of €150,000 is in the form of financial assets OR assets amounting to €650,000 out of which at least €75,000 are in financial assets.
Why Americans choose Malta Permanent Residence
American nationals choose Permanent Residence in Malta to:
- Gain visa free travel in the Schengen Zone (90 days in every 180 days)
- Achieve Permanent Residence from day one
- Apply all together as a family in one application
- Include all financially dependant children of any age, as long as they are not married
- Include financially dependant parents and grandparents
Furthermore, the MPRP programme does not impose any minimum physical stay in Malta and this makes it attractive for US nationals who might wish to continue having the US as their base and are not ready to relocate to Malta on a permanent basis.
ACC Advisors Ltd is duly authorised to act as a licensed Malta agent and holds licence number AKM-ACCA.
