Cyprus vs Malta Investment Citizenship Programs
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 waiver 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 waiver travel countries * | 167 | 158 |
| Passport rank * | 10 | 16 |
| Permanent residency | yes | yes |
| Visa waiver 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. |
Comparing countries? Read our Top Citizenship By Investment Programs 2026 guide – every program ranked by price, visa waiver access and processing time.
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