Applications for the first stage of the program (residence permit) are accepted until July 31, 2020. Applications for citizenship must be submitted before September 30, 2020.
The Citizenship for Malta Investment Program has almost exhausted the quota limit. The government has limited the application deadline.
Under the terms of the citizenship for investment program, investors first receive the residence permit status. Those participants in the program who have not yet registered it, can apply for a residence permit until July 31, 2020.
For this purpose it is necessary to visit the country to pass biometrics. Malta plans to open flights with 19 countries and regions from July 1.
The full package of documents for Due Diligence and citizenship applications are submitted after the registration of a residence permit. To participate in the current citizenship program, they must be submitted before September 30, 2020.
If an investor receives a residence permit, but does not have time to apply for citizenship program by September 30, he can take part in the next citizenship program.
According to specialists of "Immigrant Invest", it is very likely that the minimum investment requirements will increase by €200-300 thousand.
The Future of Citizenship for Malta's Investments
The Government of Malta plans to launch a new citizenship for investment programme when the current limit on applications is exhausted. It will be an updated version of the current programme.
The new quota is an excuse to review the terms of the citizenship programme. Alex Muscat, Parliamentary Secretary for Citizenship, explained that the current requirements for the volume of investment were relevant at the time of the programme launch. Now the situation has changed. The minimum investment threshold may increase in the new programme.
Limit on Malta citizenship programme
The Malta Individual Investor Program (Malta Citizenship for Investment Program) was launched in 2013. It provides passports to 1,800 applicants.
Citizenship for Malta investment is popular because of the advantages of this country's passport. It allows you to visit 154 countries of the world without visas, including the USA and Great Britain, as well as live and work in any EU country. Earlier we said that Malta has a friendly policy towards the UK and its citizens may not be affected by the consequences of Brexit.
The Citizenship for Investment Programme is important to Malta. Investor funds help implement projects in the health, construction and social sectors. Also with the help of money from the Development Fund, the Government of Malta fights emergency situations such as the Coronavirus Pandemic.
A prerequisite for a Malta citizenship program for investment is the acquisition or rental of real estate. And now is the right moment. In Malta, construction was almost not affected, but real estate prices fell. They are expected to start growing in July as soon as Malta resumes flights.