The value of having a second Maltese passport
Malta’s Citizenship by Investment Programme (IIP) is considered as the best value in Europe for various reasons. Even though acquiring a Maltese Passport does not come too cheap, it gives its holders a visa free travel to 158 countries! The average cost to acquire the Maltese passport through the IIP is that of €1million. Applicants are required to invest a minimum of €150,000 in government stocks and bonds, purchase a property of a minimum value of €350,000 or rent a property for at least €16,000 annually. In both cases the property is to be kept for the initial 5-year period and can be sold or changed thereafter. The applicant will also be required to remit a government contribution fee of €650,000 for the main applicant and an additional €15,000 for each dependant over 18 years old and for the spouse, while the contribution for a dependent who is aged under 18 is of €10,000.
According to the Global Passport Index (2019), the Maltese Passport ranks 4th in terms of travel freedom. Not only does the Maltese passport allow for easy travel to Africa and is visa free travel to over 160 countries but also offers a free healthcare system and excellent primary, secondary and tertiary education.
There have been 833 investors and 2,109 family members who have obtained Maltese citizenship since the scheme started. And the best part of it is that the passport is hereditary, so once obtained, the right to that passport passes to the future generations of its holder!
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