The choice of a particular country and getting a status in this country depends on the goals and objectives the client set to himself. The budget, which the client allocates, also plays an important role. Our goal is to find the best option that would solve the client’s problems within the allocated funds. Once again, we coped with this…
- Larisa, 44 years old. A businesswoman, got a part of her spouse’s business, which she is now managing.
- Her daughter Alesya, 24 years old. Completed the Bachelor’s degree in Germany and a Master’s degree in the UK.
- Her son Arseniy, 14 years old. An 8th grade pupil of Tomsk Lyceum.
ProblemsMuch in Larisa’s life is inextricably connected with Europe. There is a part of her business there, her daughter Alesya is studying there. Larisa has to travel there often for business and personal matters, and it is not always easy for Siberian citizens to get Schengen visas every time they travel. The situation was complicated by the fact that Alesya finished her master’s degree in the UK and didn’t manage to find a job in the EU quickly. None of her potential employers wanted to wait for a young, inexperienced specialist to get a work permit. Her son Arseniy is also planning to continue his education in Europe after graduating from school. However, Larisa is already aware that it takes long to get a Schengen study visa, also the children of several of her acquaintances could not start studying in time.
OptionsWhen Larisa contacted us, we studied her situations and decided that the ideal option for her and her children would be applying for EU citizenship. We talk about the citizenship of Cyprus or Malta. Both of these options will automatically solve all family problems at once. But, unfortunately, for our client this is a too expensive option. To get a Cyprus passport, you should invest 2 million euros in real estate. To get a Malta passport you should pay 650 thousand euros to charity fund, invest 150 thousand in securities and additionally rent or buy a housing in Malta. Total Maltese citizenship would have cost Larisa about 1 million euro, and she could not withdraw such funds from the business.
SolutionAs a credible alternative to the citizenship we offered Larisa to consider a permanent residence of Malta. This status solves family problems, but with some limitations. In particular, her daughter Alice gets in this case the right to work only in Malta. Nevertheless, it will be easier for her to look for viable options and to have interviews with employers almost in the whole Europe, since she will be able to travel around the countries without visas. But there are undeniable advantages in the Malta program: the investment conditions must be fulfilled within 5 years, and the status of permanent residence is assigned for the whole life. The program conditions are as follows:
- to purchase state-owned Malta * bonds worth 250 thousand euros for 5 years
- to rent a property in Malta for 10-12
- thousand euros per year or buy real estate for 270-320 thousands euro
- to pay a one-time administrative fee of 30 thousand euros
- to get medical insurance
- to confirm the availability of 500 thousand euro of capital, or 100 thousand euro of annual income.
- As a result the family chose the option to get a Malta permanent residence
- It took 3 weeks to collect the documents. The delay was due to the fact that Alice was studying in different countries and she had to get certificates of non-conviction from each country. The whole family came to Malta for a couple of days to submit the documents and biometrics.
- We helped the clients to collect and correctly execute a package of documents and submitted it to the Maltese State Agency, which is officially engaged in the registration of investors.
- After that, the documents were reviewed for 3 months, and finally the family received an approval. Larisa arrived in Malta to fulfil the conditions of the program: to make a contribution to the national fund and to purchase securities. As for the real estate, Larisa made the decision to buy a property here, since both she and her children really liked Malta.
- After another month, the family received Malta permanent residence cards. As they admit, by that time they no longer wanted to leave Malta, so much the country positively impressed them.
- Larisa plans to spend most of her time with children and gradually transfer her entire business to Europe. Maybe she will register it in Malta, because the taxation system is very attractive hier |
- Alice found a job in Malta without any problem. It turned out that unemployment here amounts to only 2%: since a large number of international companies are concentrated in the country, young professionals are in great demand hier.
- Arseniy chose a school in Malta, where he would like to study. This is a branch of the British school. After graduation, it will be easier for him to enter a university in London.