Malta and Cyprus are the only official EU citizenship by investment programs running in Europe. There are few subtle differences between the two citizenship schemes in Europe.
- Malta is cheaper than Cyprus CIP
- Malta has visa waiver with United States while Cyprus does not.
- The time to acquire passport in Malta is 12-25 months while Cyprus is about 6 months.
- Malta and Cyprus both requires residency before being granted citizenship (rent or lease a property) proving genuine link to the country.
- Malta requires 650,000 euro donation to fund while Cyprus 2 million euros is purely recoverable investment in real estate or bonds, thus no money wasted
- Malta is in Schengen zone but Cyprus is not a schengen country but irrespective of schengen status, the passports of both countries are EU passports which has visa free travel to EU/UK.
- Application refusal rates of Malta much higher than Cyprus.
- Both countries offer EU citizenship for family and children which can be passed on to future generations.
Malta |
Cyprus |
|
| Citizenship by investment started in | 2014 | 2012 |
| Citizenship Act | MALTESE CITIZENSHIP ACT (CAP. 188) Individual Investor Programme of the Republic of Malta Regulations, 2014 |
Scheme for Naturalisation of Investors by Exception on the basis of subsection (2) of section 111A of the Civil Registry Laws of 2002-2013 |
| Minimum investment | € 900,000 | € 2,000,000 |
| EU member state | Yes | Yes |
| Schengen membership | Yes | No |
| Citizenship time | 12-15 months | 6 months |
| Processing time | 90 days | 90 days |
| Passport validity | 10 years | 10 years |
| EU citizenship for family and children | Yes | Yes |
| Residence requirements | 12 months (e-residence card must) | 6 months (PR must) |
| Qualifying investments for citizenship | € 650,000 one time donation to National Economic Fund + €150,000 Bond shares + Renting a housing for €20,000 per yearNational Economic Fund Contribution(a) Main applicant: EUR 650,000 (six hundred and fifty thousand euro), of which a non-refundable payment of EUR 10,000 (ten thousand euro) shall be remitted as a non-refundable deposit prior to submission of the application;
(b) spouse: EUR 25,000 (twenty five thousand euro); (c) for each and every child below 18 years of age: EUR 25,000 (d) for each and every unmarried child between 18 years of age and 26 years of age: EUR 50,000 (fifty thousand euro); (e) for each and every dependant parent above 55 years of age: EUR 50,000 (fifty thousand euro). |
€ 2,000,000 in real estate, cyprus businessesor€5,000,000 in bonds or bank deposits |
| Additional fees |
(1) Due diligence fees:Main applicant: EUR 7,500 (seven thousand five hundred euro); EUR 3000 for children 13-17 of age and EUR 5,000 for children 18-26 years of age, EUR 5,000 (five thousand euro); for each and every dependant unmarried child between 18 years; for each and every dependant parent above 55 years of age: EUR 5,000 (five thousand euro).(2) Passport fees:
Passport: EUR 500 (five hundred euro) per person; (3) Bank charges: EUR 200 (two hundred euro) per application. |
|
| Purchase of home | Must Rent or buy a private home for € 350,000 euros or more | Purchase of home worth atleast € 500,000 is required |
| European Health insurance | Coverage must for EUR 50,000 per dependent | Coverage must with coverage EUR 50,000 per person |
| Personal visit | required | required |
| Program limits | 1800 applications | no limits |
| Real estate property | optional investment of atleast EUR 350,000 in Maltese real estate | € 2,000,000 euros |
| Refusal rates | High | Low |
| Business investment | option not available | € 2,000,000 |
| Dual citizenship | allowed | allowed |
| Visa free travel countries * | 167 | 158 |
| Passport rank * | 10 | 16 |
| Permanent residency | yes | yes |
| Visa free travel** | United Kingdom, Canada, United States (esta), EU member states, Australia, New Zealand | United Kingdom, Canada, EU member states, Australia, New Zealand |
| Taxes | Based on residency (not citizenship) over 183 days of living | Based on residency (not citizenship), usually over 183 days of living in the country. |
| Permanent Living | No requirement to live permanently in the country | No requirement to live permanently in the country |
| Population | 445,436 | 1.1 million |
| GDP (PPP) | $16.3 billion | $27.5 billion |
| Public Debt | 73% of GDP (2013) | 111.1% of GDP (2013) |
| About | Malta is an archipelago in the central Mediterranean south of sicily with fortresses, megalithic temples and the ?al Saflieni Hypogeum, a subterranean complex of halls and burial chambers dating to circa 4000 B.C. The main coastal resorts and larger sandy beaches are in the northern part of Malta. | Cyprus is known for beaches, it also has a rugged interior with wine regions. Coastal Paphos is famed for its archaeological sites relating to the cult of Aphrodite, including ruins of palaces, tombs and mosaic-tiled villas. |