Americans Are Buying Property In Malta For The Golden Visa Programme

Have you heard of the tiny island called Malta? If you have, it’s most probably because many of your American friends have chosen to buy property there. What appeal does Malta have for Americans?

Well, for one thing, English is widely spoken there so there’s no need to learn a foreign language to fit in. Furthermore, the guaranteed tropical island weather is but another factor that gets Americans ecstatic about calling Malta home.

However, the main reason for moving to Malta is because buying a property in this Mediterranean oasis means obtaining near-instantaneous citizenship. Plus, Malta is part of the Schengen zone, making it possible for a Maltese resident to live and work in any of the EU states. Keep reading to find out more about how Malta’s Golden Visa Program works and why Americans are so attracted to it.

Malta’s Golden visa program

The island of Malta offers two golden visa options:

First you have the Malta Golden visa program which has garnered international interest. It allows applicants to simply make an investment of 160 000 Euros which is considered a donation and is non-refundable. This investment is accompanied by an annual contribution of 10 000 Euros which will then accompany a property lease for up to five years.

The second one requires the purchase of a bond for 250 000 Euros. This bond can be sold after five years of holding it. The purchase of a bond agreement is accompanied by a 30 000 Euros government contribution and a further 10 000 Euros for an annual property lease.

Now, there are several perks that come with the Golden visa program, such as:

1.    Getting another passport: Partaking in the Golden visa program means that American citizens accept all the rights of fellow Maltese citizens. They also hold a dual passport. This allows the applicants European residence and the ability to gain free access to over 166 countries.

2.    Passport in good time: A Maltese passport can be available within a year. The longest time that you may have to wait for your passport is 15 to 16 months.

3.    Status increase: Having two passports means more travel opportunities available at your fingertips. It does also mean an automatic increase in status and social standing. But, watch out! Your friends might get attacked by the green-eyed monster once they find out you have residency rights in Malta too.

4.    Two passports are better than one: Ideally having a dual passport means added chances for a better education, better lifestyle and also more business opportunities available at your disposal. Living in Malta also means you’ll benefit from the relatively stable political and economic climate of the country.

5.    It’s easier to purchase property: Once the promise of sale has been signed, Americans are only required to pay a few designated taxes in order to secure property in Malta within 3 to 6 months. The ease of property purchase makes the Golden visa program all the more desirable.  In fact, the overall application process for property and residency takes about 3 months on average.

6.    Citizenship for other family members: Once you have been called by the Maltese shore, there is a greater chance that your immediate family members can gain residency in the tropical paradise as well. Both the applicant’s parents and their spouse as well as their in-laws, are allowed to gain citizenship for an additional fee. All dependent children under the age of 27 can acquire citizenship as well.

7.    Ease of movement: Once you’ve gained citizenship through the Malta golden visa program, you’re not expected to go through a gruelling moving process. There’s no need to study for brain taxing language examinations, military tests or citizenship tests either. 

8.    Investment return: Buying into the Golden visa offer means that you’re guaranteed a great return on your investment, including citizenship into an economically strong and politically stable country.

The opportunity to gain Maltese citizenship has beckoned Americans since 2014 as it offers a pretty nest egg for you and your family for generations to come. It also means you’ll have a second passport that you can use to travel freely across the Schengen region, and a beautiful island to call your second home.