EU citizenship cannot be obtained by investment. However, after several years of holding a residence permit, a wealthy foreigner can apply for citizenship by naturalisation.
Investors can get Malta citizenship for exceptional services by direct investment. It is a naturalisation path: an investor gets a residence permit and applies for citizenship a year or three years later.
An applicant for citizenship meets three investment conditions: purchasing or renting housing, contributing to a state fund, and donating to a non-governmental organisation. The minimum investment sum is €690,000.
A spouse, children under 29, parents and grandparents over 55 can obtain Malta citizenship with the investor.
Benefits for relocation with Malta citizenship. A Maltese passport provides the right to choose a comfortable place for living, working and doing business.
First of all, Maltese citizens can reside in the country unlimitedly. Secondly, Malta is an EU member state. Therefore, its citizens have the right to relocate within the region under a simplified procedure. In the latter case, a Maltese citizen must register in the chosen country a few months after arrival. The registration procedure implies filling out several government forms and proving that the applicant has health insurance, housing and a sufficient income.
Citizenship of other European countries is granted to investors upon naturalisation, namely, after several years of living in the chosen state.
Here are some time frames of how long one needs to live in the country to apply for citizenship by naturalisation:
Portugal — at least 5 years;
Cyprus — at least 5 years;
Austria — at least 6 years;
Greece — at least 7 years;
Spain — at least 10 years;
Switzerland — at least 10 years.
Portugal is the only EU country where an investor can qualify for citizenship by naturalisation without constantly living there. The applicant for citizenship must hold a residence permit for five years; it’s enough to spend seven days a year in Portugal to maintain residency.
Austria and Spain don’t allow dual citizenship. Thus, if you decide to get a passport from one of these countries, you are to give up any other citizenship.