In our previous edition, we discussed how individuals and families can preserve their wealth and businesses through “Residency and Citizenship by Investment” programs.
Residency and Citizenship by Investment Programs can serve as means of securing oneself and loved ones as well as wealth preservation and maximization strategy.
Following our earlier publication, we received some enquiries from our readers on some of the available destinations for citizenship and residency planning. We are taking a deep dive into these programs and will highlight key requirements and other important details that can assist in deciding about the programs.
We will discuss Malta and St Lucia. We have attached fact sheets that highlight the program features in these countries.
Malta is known to be one of Europe’s leading investment locations, it is driven by its reputation for stability, predictability, and security.
Malta offers both the Malta Permanent Residency Program (MPRP) and the Maltese Citizenship by Naturalization for Exceptional Services by Direct Investment (MESDI). These migration programs offer good benefits one of which is the ability to extend the citizenship rights to one’s family.
The Malta Permanent Residency Program
grants residency rights to foreign nationals seeking an alternative residence in Europe. Hence foreign nationals or international investors who are desirous of residency in Malta can undertake these Investment options.
- Purchase a residential property in Malta of at least EUR 350,000 (in words as well) or the lease of a property with a minimum rental value of EUR 12,000 (in words as well) per annum for a period of 5 years;
- An additional contribution of EUR 28,000 to the Maltese economy if the residential property is purchased, or EUR 58,000 if the property is leased, plus a mandatory charitable donation of €2,000 to a Maltese registered NGO, plus application fees.
The program offers a stable, low-risk investment route to gaining a residency visa in a European Union (EU) Schengen country.
Malta’s Citizenship by Naturalization for Exceptional Services by Direct Investment (MESDI) route
is aimed at ultra-high net worth individuals. Individual investors must:
- Make a minimum contribution of €600,000 to the national development fund set up by the government and prove 36 months of residency. Alternatively, there is an expedited route which requires a contribution of €750,000 and evidence of 12 months residency;
- Investors must also contribute €50,000 per each additional dependent included in their application. In addition to the contribution;
- Investors must also invest a further €700,000 into residential real estate or enter into a rental agreement at a minimum value of €16,000 per annum which must be maintained for five years;
A compulsory donation of €10,000 to a registered philanthropic, cultural, sport, scientific, animal welfare, or artistic non-governmental approved organization or society is also required.
ST-LUCIAThe Saint (St) Lucia Citizenship by Investment program was launched in 2016 to promote and attract foreign direct investment on the island. The program offers a unique opportunity to invest in Government securities and is popular amongst applicants wishing to make a low-risk investment in a government-owned asset. An Investor may also qualify for Citizenship by making a donation to a government fund or investment in real estate. The requirements are:
- The current minimum investments for donation to the fund are set at $100,000 for a single applicant, $140,000 for a couple and $150,000 for a family of four;
- For real estate, the minimum real estate purchase is set at $300,000 for the main applicant and the asset must be held for a period of 5 years;
- Investment in non-interest-bearing Government bonds with a minimum value of USD 250,000.
We know that obtaining another citizenship provides a safe jacket for one’s self, family, wealth and legacy. At Fiduciary Services Limited Ltd, we commit to providing you with relevant advisory and services as you work through your citizenship application. With us as your partners, you can be rest assured of a seamless process.
Email us to provide you with options as to which jurisdictions are the best fit for you, your family and business considerations.
The need for a second passport is fast becoming a necessity. Watch this webinar hosted by Fiduciary Services Limited Limited in collaboration with Henley & Partners, the global leader in residence and citizenship on global citizenship by investment programs. WATCH NOW and see our client guide HERE
Henley & Partners has just completed its milestone submission of 100 applications for the Montenegro Citizenship-by-Investment Program. Of these, 33 international investors and their families have already received both their citizenship and their passports, despite the ongoing disruptions caused by the coronavirus pandemic. The leading global residence and citizenship planning firm is one of only three government-appointed marketing agents for the highly sought-after citizenship-by-investment program, which is due to close at the end of this year. READ MORE