Best Citizenships

Malta vs Cyprus – Citizenship by investment

Malta Cyprus Citizenship passports

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.



Citizenship by investment started in 2014  2012
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 membershipYes Yes
Schengen membershipYes No
Citizenship time12-15 months6 months
Processing time 90 days 90 days
Passport validity10 years10 years
EU citizenship for family and children YesYes
 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


€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.

  •  Government processing fee € 2,000
  • Certificate of Naturalisation fee € 5,000
 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 insuranceCoverage must for EUR 50,000 per dependent Coverage must with coverage EUR 50,000 per person
Personal visit required required
Program limits1800 applications no limits
Real estate property optional investment of atleast EUR 350,000 in Maltese real estate € 2,000,000 euros
Refusal ratesHighLow
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 ArabiaUnited States, Russia, China, Saudi Arabia
Visa not required**United Kingdom, Canada, United States (esta), EU member states, Australia, New ZealandUnited Kingdom, Canada, EU member states, Australia, New Zealand
 Taxes Based on residency (not citizenship) over 183 days of livingBased on residency (not citizenship), usually  over 183 days of living in the country.
Permanent LivingNo requirement to live permanently in the countryNo requirement to live permanently in the country
Population 445,436 1.1 million
GDP (PPP)$16.3 billion$27.5 billion
Public Debt73% of GDP (2013) 111.1% of GDP (2013)
GeographyMalta 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.



* Henley visa restrictions index 2016

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