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  • Malta & Cyprus Citizenship Programs Compared table

Malta & Cyprus Citizenship Programs Compared table

Note: The Cyprus Government has announced the suspension of their Citizenship-by-Investment Program (CIP) effective November 1, 2020.
 
           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:


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
 
N/A
€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
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
 
 
183 countries and territories
174 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.