Malta and Cyprus are the only two countries, which have their official citizenship by investment programmes running in Europe. Foreign investors can apply for EU citizenship in any these countries through a qualifying economic investment. In my opinion, Malta passport is cheaper, has more reputation and value, than Cyprus passport, but takes more time.
I will spot out the main differences between the two citizenship by investment programs below.
Malta |
Cyprus |
|
| Citizenship by investment started in | 2014 | 2012 |
| Citizenship Act | MALTESE CITIZENSHIP ACT (CAP. 188) Individual Investor Programme of the Republic of Malta Regulations, 2014 |
Scheme for Naturalisation of Investors by Exception on the basis of subsection (2) of section 111A of the Civil Registry Laws of 2002-2013 |
| Minimum investment | € 900,000 | € 2,000,000 |
| EU membership | Yes | Yes |
| Schengen membership | Yes | No |
| Citizenship time | 12-15 months | 6 months |
| Processing time | 90 days | 90 days |
| Passport validity | 10 years | 10 years |
| EU citizenship for family and children | Yes | Yes |
| Residence requirements | 12 months (e-residence card must) | 6 months (PR must) |
| Qualifying investments for citizenship | € 650,000 one time donation to National Economic Fund + €150,000 Bond shares + Renting a housing for €20,000 per year
National Economic Fund Contribution (a) Main applicant: EUR 650,000 (six hundred and fifty thousand euro), of which a non-refundable payment of EUR 10,000 (ten thousand euro) shall be remitted as a non-refundable deposit prior to submission of the application; (b) spouse: EUR 25,000 (twenty five thousand euro); (c) for each and every child below 18 years of age: EUR 25,000 (d) for each and every unmarried child between 18 years of age and 26 years of age: EUR 50,000 (fifty thousand euro); (e) for each and every dependant parent above 55 years of age: EUR 50,000 (fifty thousand euro). |
€ 2,000,000 in real estate, cyprus businesses + €75,000 donation to research and innovation + €75,000 donation to Cyprus housing agency
or €5,000,000 in bonds or bank deposits
|
| Additional fees | (1) Due diligence fees:
Main applicant: EUR 7,500 (seven thousand five hundred euro); EUR 3000 for children 13-17 of age and EUR 5,000 for children 18-26 years of age, EUR 5,000 (five thousand euro); for each and every dependant unmarried child between 18 years; for each and every dependant parent above 55 years of age: EUR 5,000 (five thousand euro). (2) Passport fees: Passport: EUR 500 (five hundred euro) per person; (3) Bank charges: EUR 200 (two hundred euro) per application. |
|
| Purchase of home | Must Rent or buy a private home for € 350,000 euros or more | Purchase of home worth atleast € 500,000 is required |
| Health insurance | Coverage must for EUR 50,000 per dependent | Coverage must with coverage EUR 50,000 per person |
| Personal visit | required | required |
| Program limits | 1800 applications | no limits |
| Real estate property | optional investment of atleast EUR 350,000 in Maltese real estate | € 2,000,000 euros |
| Refusal rates | High | Low |
| Business investment | option not available | € 2,000,000 |
| Dual citizenship | allowed | allowed |
| Visa free travel countries * | 168 | 159 |
| Passport rank * | 9 | 17 |
| Visa required** | Russia, China, Qatar, Saudi Arabia | United States, Russia, China, Saudi Arabia |
| Visa not required** | United Kingdom, Canada, United States (esta), EU member states, Australia, New Zealand | United Kingdom, Canada, EU member states, Australia, New Zealand |
| Taxes | Based on residency (not citizenship) over 183 days of living | Based on residency (not citizenship), usually over 183 days of living in the country. |
| Permanent Living | No requirement to live permanently in the country | No requirement to live permanently in the country |
| Population | 445,436 | 1.1 million |
| GDP (PPP) | $16.3 billion | $27.5 billion |
| Public Debt | 73% of GDP (2013) | 111.1% of GDP (2013) |
| Geography | Malta is an archipelago in the central Mediterranean south of sicily with fortresses, megalithic temples and the ?al Saflieni Hypogeum, a subterranean complex of halls and burial chambers dating to circa 4000 B.C. The main coastal resorts and larger sandy beaches are in the northern part of Malta. | Cyprus is known for beaches, it also has a rugged interior with wine regions. Coastal Paphos is famed for its archaeological sites relating to the cult of Aphrodite, including ruins of palaces, tombs and mosaic-tiled villas. |
Sources
** https://en.wikipedia.org/wiki/Visa_requirements_for_Maltese_citizens
** https://en.wikipedia.org/wiki/Visa_requirements_for_Cypriot_citizens
* Henley visa restrictions index 2016
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