The reasons why our clients think about obtaining a second citizenship or permanent residence are very different. Some people think about the future of their children, their education and employment possibilities in Europe. Others are attracted by the prospects for business development and partners’ network of either in particular countries or around the whole world. And the only one obstacle for that is the restriction of rights and opportunities for foreign investors in Europe. And there are also cases when business interests are harmoniously combined with love for a particular country. This is actually the story we would like to tell.
The heroes of our case
- Arkady, 62 years old. A successful businessman in a healthcare field, who possesses a network of medical clinics.
- Elena, 47 years old. His wife, a housewife. She is actively engaged in charity work, cooperates with well-known funds that helping children
- Ekaterina, 13 years old. Their daughter, an active and gifted teenager. Studies at the school with advanced teaching of English and Italian, and fond of dancing and painting
- Nina Konstantinovna, 69 years old. Elena’s mother. She is also a family member, devoted herself to raising her granddaughter Ekaterina
The SituationWe saw the heroes of our case as a very close-knit family, where everyone takes an active life position and in constantly growth personally. Arkady develops his business actively and cooperates with the Italian partners. He plans to expand his company and enter the European market. He also often visits Italy with the family. Their visits are quite long-term, that’s why Arkady has learned Italian and keeps on improving it constantly. His daughter Ekaterina and his wife Elena also use every opportunity to learn and improve their Italian when they travel to the homeland of Botticelli, as well as to learn more about European art and history. Nina Konstantinovna does not like staying at home and quite often joins her family when they travel to Italy. She is still very active: she helps her granddaughter and takes part in Elena’s charitable activities while Elena organises her events. The whole family is united not only by an active life position, but also by love for Italy.
Goals and objectivesWith the time, our heroes began to realise that Arkady needed to spend in Italy as much time as possible, without thinking about the visa time limits. Arkady began searching for the information about the possibility of obtaining a residence permit in Italy, but it turned out to be a very complicated and long procedure without any guarantees. Besides, this status wouldn’t solve the tasks of the family in terms of obtaining permanent status in Europe, which is important for Arkady’s partnership development in Italy.
Search for the best optionArkadiy contacted us for the first time a year ago. At that time he was concerned with seeking solutions of the problem of short staying in Europe and the constant need to reissue visas to enter Italy. During our meeting, we gave him a brief overview of all existing programs and discussed in details all advantages and disadvantages of each option. But at that time Arkady wasn’t able to make a choice. A few months later we met in our office again and discussed once more all the possibilities of currently existing programs. Arkady hesitated again regarding countries and possibilities. He was attracted by 3 programs at once, but none of them met his expectations to a 100%.
Which programs were considered by our client?
Caribbean citizenshipObtaining passports of Caribbean countries was affordable. Only for 160 thousand US dollars Аrkadiy could obtain Antigua and Barbuda citizenship for the whole family. But these passports would not solve the question of staying in Europe for more than 3 months in a row, if necessary. Because citizens of Antigua can visit Schengen without a visa under the scheme 90 in 90 days, which means that having stayed in Italy for 3 months, the family would be forced to completely forget about traveling to Europe for the next 90 days.
Portugal residence permitOne more option was permanent residence in Portugal. It gave access to Europe and had obvious advantages:
- fairly simple scheme of obtaining a residence permit;
- optimal amount of investment in real estate – from 500 thousand euros;
- relatively quick access to a European passport – after 5 years
Malta citizenshipWhen our customers considered this program, the option seemed ideal for them regarding the opportunities which would be open to them after obtaining the citizenship of Malta. The only thing Arkadiy was not sure about, is the necessity to make investments of 1 million euros. In the conditions of developing his business and accumulating assets, Arkadiy was not ready to withdraw such amount from his budget. In addition, the family was not satisfied with the amount of 700 thousand euros, which should be irrevocably paid into the Maltese National Fund.
SolutionWe drew the attention of our client to another state program – Malta permanent residence and explained all its advantages and disadvantages. At the end of our conversation, Arkady came to the conclusion that this particular program is the optimal solution of his tasks. The conditions of this program attracted the family by the fact that the bulk of the investment is returnable. Investing 250 thousand euros in state bonds or shares of Maltese companies for 5 years, the family receives the status of a permanent resident of the country. Arkadiy was especially attracted by the condition that after 5 years it is possible to return the main amount of investments without losing the status of permanent residence and the privileges it gives.
The advantages of Malta permanent residence for the heroes of our case
- Malta is a member of the European Union and is located next to Italy, which makes trips short and low-cost. Ferries to Sicily from Malta go every 1.5 hours
- With the card of Malta permanent residence, the family could forget about constantly applying for Schengen visas and could move freely around Europe, feeling comfortable there and not waiting at the customs control at the airport
- A family can travel to Italy as often as they wish and spend more time there than on previously issued visas.
- The period of staying in Malta for a family is not limited. That is, they may actually live in this country or not live here at all
СooperationIt took us one month to prepare and agree the documents, which Arkadiy should have provided to confirm his financial viability and to participate in the Malta permanent residence program. All basic forms have been assured by the Maltese consul in Moscow. The family didn’t even have to fly to Malta for this. 6 months after the submission of documents for a security check, the Maltese side made a positive decision on the approval of all candidates: Arkadiy and his wife, their daughter Ekaterina and Nina Konstantinovna. And after some time, when all investment conditions were fulfilled, our fans of Italy received their permanent residence cards.
- Having received permanent residence in Malta, Arkadiy brings his business to a higher level.
- Elena attracts her Italian friends and new acquaintances to charity, expanding the geography of good deeds of her fund
- Nina Konstantinovna helps her granddaughter and enjoys the dishes of her favourite Italian cuisine
- Ekaterina together with her parents practices her Italian and makes new friends in the cradle of the Roman Empire.