| Country |
MALTA |
CYPRUS |
| Population |
441,543
|
1,207,359 |
| GDP (PPP) |
$14.79 billion
|
$24.568 billion |
| Currency |
Euro (€)
|
Euro (€) |
| Program |
Citizenship by Investment in Malta
OR
Malta Individual Investor Program (MIIP)
|
Citizenship by Investment in Cyprus |
| PROGRAM BENEFIT |
EU freedoms, settlement, Schengen mobility and excellent visa free travel
Right to reside, work and travel freely within the EU
|
EU freedoms, settlement, Schengen mobility and excellent visa free travel
Right to reside, work and travel freely within the EU |
| Languages |
Maltese, English
|
Greek, Turkish
Also, English, French and German are widely spoken |
Language proficiency tests |
No language proficiency tests
|
No language proficiency tests |
| Restricted countries |
Afghanistan, Chad, Iran, Libya, North Korea, Somalia, Syria, Venezuela and Yemen
|
N/A |
| Family members: |
Yes |
Yes |
| Spouse |
Yes |
Yes |
| Children |
Minor children,and unmarried dependent adult children under age 27. |
Minor children (under age18 ) and (students under age 28). |
| parents |
Yes (under certain conditions).
|
Yes (under certain conditions). |
| Model |
Contribution + Mixed Investment
|
Mixed Investment
|
| Minimum investment: |
€ 900,000 |
€ 2,000,000 |
| Contribution |
€ 650,000 |
0 |
| Government Bonds |
€ 150,000 |
€500,000 (Optional) |
| Real Estate |
Min. Rent €16,000 yearly or Purchase min. €350,000
|
€500,000
|
| Additional Investment |
N/A
|
€1.5 million min. investment in real estate / €2 million in a combination of investments |
| TERM OF INVESTMENT |
| Contribution |
Non - Refundable |
Not Applicable |
| Real Estate |
5 years |
3 years (but must retain possession of a permanent residence of at least €500.000 for life). |
| Government Bonds |
5 years
|
5 years for bonds and stocks (Optional).
|
| EU membership |
Yes
|
Yes |
| Schengen membership |
Yes
|
No |
Time to Citizenship |
Fast track residence cards within 1-3 weeks with Schengen mobility for 18 months.
Citizenship approved after 4 months processing time.
A total of 12 months to issue passport (inclusive of processing time) from the date of initial residency.
|
Approval in Principle- 3 months.
Once investors have held their PR cards for a total period of six months their new Passports/ID’s can be collected in Cyprus or at a Cyprus embassy. |
| Passport validity |
10 years
|
10 years |
Health insurance |
Coverage must for a minimum of EUR 50,000 per dependent
|
Coverage must for a minimum of EUR 50,000 per dependent |
Personal visit
(Physical Residence) |
The Main applicant only is required to be physically present (even on an intermittent basis) for at least 3 weeks over the 12 month period.
|
One visit every 7 years |
| Permanent Living(Do you need to reside there) |
No |
No |
| Program limits |
1800 applications
|
700 applications |
| Refusal rates |
one in three applicants |
Low
|
| Dual citizenship |
Dual-citizenship permitted and the acquisition of citizenship in Malta is not reported to other countries
|
Dual-citizenship permitted and the acquisition of citizenship in Cyprus is not reported to other countries |
Visa free travel countries
|
190 countries and territories
|
181 countries and territories |
Visa not required and / or eVisa / Visa on arrival |
Australia,
Canada,
EU member states,
New Zealand,
Qatar,
Russia,
Saudi Arabia,
United States, Visa Waiver Program
United Kingdom
|
Australia,
Canada,
EU member states,
New Zealand,
Russia,
Saudi Arabia,
United Kingdom
|
| Visa required |
China,
Iraq,
North Korea,
Yemen, |
China,
Iraq,
North Korea,
United States
|
| Taxes |
The Maltese tax system subjects persons to tax on the basis of domicile and residence – not citizenship.
Residence for tax purposes is established by demonstrating an intention to reside in Malta indefinitely and definitely on the basis of a day count of 183 days
|
An individual is considered to be a tax resident in Cyprus, if she/he resides in Cyprus for a period which in aggregate exceeds 183 days.
|
