A married couple, Grigoriy, 62, a businessman in Moscow and Maria, 53, a housewife.
Due to his age, Grigoriy intends to quit business in 1-2 years in order to devote his time to leisure and travel. To do this, he wants to relocate to one of the European countries. Precise location is yet to be set. He and Anna are attracted by the southern countries and the Mediterranean climate.
Grigoriy planned to obtain residence permits once he and his wife know exactly where they wanted to move. However, the circumstances forced him to search for a more quick solution to the problem.
The thing was that the daughter Alina had only a year left before graduation. After that, she was planning to move to the UK and work there, especially since her job opportunities were excellent. Parents were willing to give the European university education to the youngest daughter Vera once she graduates her grammar school. Her goal was to enter a German or Swiss university. Aged 15, she could already boast an excellent German.
Prior to contacting Immigrant Invest
Having assessed the situation, Grigoriy realized that he would need to apply for three different documents.
- Residence permits for himself and his wife to be able to move to a European country. Grigoriy considered several attractive options for investors
- Residence permit together with work permit for Alina. However, it is extremely difficult to obtain one in the UK so successful beginning of the daughter's career was jeopardized
- Student visa for Vera. It is fairly easy to obtain one but it is necessary to extend it each year which takes time and money
After discussing the future prospects with his family, Grigoriy decided to seek help from us.
The consultation was arranged at Immigrant Invest’s office in Moscow. After reviewing all the details of the situation within Grigoriy’s family, we asked him to abandon the idearnof obtaining a residence permit. Instead, it’ would be better to benefit from Maltese citizenship by investment program.
According to its requirements, the applicant must:
- make a non-refundable donation to the National Development and Social Fund of Malta in the amount of EUR 650,000
- rent a property worth EUR 16,000 per year or buy a property worth EUR 350,000
- buy government bonds worth EUR 150,000
Additionally, it is required to pay administrative fees and fees for due diligence checks for all family members.
Our client’s choice
Grigoriy agreed that Malta passport will solve all the problems for his family. In addition, he and Anna were quite satisfied with the country itself, although he did not exclude the possibility of moving to another country, for example Italy, upon obtaining citizenship of the European Union.
It is noteworthy that immigration to Malta under the investor program involves all family members under 26 years of age. In addition, future husbands and children of the daughters will be able to apply for its citizenship.
Beginning of our cooperation
Without any further delay, we agreed on the date of Grigoriy and his family’s arrival to Malta to obtain their residence permits and submit documents to pass due diligence checks. We had to act quickly as the eldest daughter Alina would turn 27 in a few months so all the documents had to be filed prior to that date.
Our experts have gathered the whole set of documents required for participation in the program within one week. In order to file them to Identity Malta, an agency running the investor program, we have arrived in the country and obtained residence permits valid for one year for the whole family within just one day. Grigoriy also rented an apartment in the popular resort of Sliema for that very same period. Rental procedure took 3 days.
Obtaining citizenship of Malta by investment
Maltese Government had been conducting due diligence checks, considering the candidacy of all family members listed in the application and making a decision on granting them citizenship within a year.
In turn, Grigoriy was obliged to invest the required funds to the economy within that period. To do so, he came to the island another five times, especially since Maltese residence permit allowed him to travel freely across the country and Europe.
During his visits to Malta, Grigoriy bought government bonds as well as became the owner of a small house. He and Anna spent their vacation there and got to know the country's culture better. They liked the local cuisine, respectable towns and mild climate. They were also pleasantly surprised with safety and friendliness towards foreigners.
Upon 12 months after filing their applications, Grigoriy and his family were invited to Malta to be given their Maltese passports.
The ultimate result of our cooperation
At the moment, Grigoriy keeps living in Moscow with his wife and plans to sort out all details with his business within a year so that he can get free and have a certain income. He is busy reorganizing business. That done, he will have his dividend income from various companies.
It is important that Malta does not impose tax on dividends received in other countries. This will allow Grigoriy to stay comfortable in his new home and devote his time to rest and travel.
The eldest daughter Alina is getting ready for her graduation. Her employers are waiting for her in London with broad career opportunities in an international company. In order to get a job, she does not need residence and work permits. Her Maltese passport is enough as the country is part of the European Union.
Vera is about to enter a Swiss college and she does not need a student visa. Moreover, as a citizen of the European Union, she can count on certain concessions.
Thus, immigration to Malta helped Grigoriy to solve all the pressing family problems associated with obtaining official status in Europe.
If you want to learn more about how to get citizenship of Malta, read our blog posts about immigration program of this country. Also, consult with our experts at the nearest office. We will find a complete solution to suit your individual requirements and preferences.