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- Malta & Cyprus Citizenship Programs Compared table
Malta & Cyprus Citizenship Programs Compared table
| Country | MALTA | CYPRUS | |
| Population |
|
1,179,551 |
|
| GDP (PPP) |
|
$19.81 billion |
|
| Currency |
|
Euro (€) |
|
Program |
OR Malta Individual Investor Program (MIIP) |
Citizenship by Investment in Cyprus |
|
| PROGRAM BENEFIT |
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 |
|
Greek, Turkish Also, English, French and German are widely spoken |
|
| Language proficiency tests |
|
No language proficiency tests |
|
| Restricted countries |
|
N/A |
|
Family members: Spouse Children parents |
Yes
Yes
Minor children,and unmarried dependent adult children under age 27.
Yes (under certain conditions).
|
Yes Yes Minor children (under age18 ) and (students under age 28). Yes (under certain conditions). |
|
| Model |
Contribution + Mixed Investment
|
Mixed Investment
|
|
| Minimum investment: Contribution Government Bonds Real Estate |
€ 900,000
€ 650,000
€ 150,000
Min. Rent €16,000 yearly or Purchase min. €350,000
|
€ 2,000,000
0
€500,000 (Optional)
€500,000
|
|
| Additional Investment |
|
€1.5 million min. investment in real estate / €2 million in a combination of investments |
|
| TERM OF INVESTMENT Contribution Real Estate Government Bonds |
Non - Refundable
5 years
5 years
|
Not Applicable 3 years (but must retain possession of a permanent residence of at least €500.000 for life). 5 years for bonds and stocks (Optional). |
|
| EU membership |
|
Yes |
|
| Schengen membership |
|
No |
|
| Time to Citizenship |
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 |
|
| Personal visit (Physical Residence) |
|
One visit every 7 years |
|
Permanent Living(Do you need to reside there) |
No | No | |
| Program limits |
|
700 applications |
|
| Refusal rates |
one in four applicants (Malta citizenship program has high refusal rates ) | Low |
|
| Dual citizenship |
|
Dual-citizenship permitted and the acquisition of citizenship in Cyprus is not reported to other countries |
|
| Visa free travel countries |
|
158 countries and territories |
|
| Visa not required and / or eVisa / Visa on arrival |
Canada, EU member states, New Zealand, United States, United Kingdom |
Australia, Canada, EU member states, New Zealand, United Kingdom |
|
| Visa required |
China, Qatar, Russia, Saudi Arabia |
China,
Russia,
Saudi Arabia,
United States
|
|
| Taxes |
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. |
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