Tag: malta

Positive Changes to Malta Residency Programme

August 10th, 2017   •   Bonds, Family, Investor Visa, Residency, Schengen Travel   •   Comments Off on Positive Changes to Malta Residency Programme   

Malta Indefinite Residency Programme Updates Last month we saw some very positive changes to the Malta Indefinite Residency Programme. The changes have made the programme even more attractive than it was previously, resulting in an incredibly feasible and flexible way to achieve EU Permanent Residency for the whole family.

One of the huge attraction’s of the programme is that the age limit for dependant children has now been abolished. Children over the age of 18 can be included no matter what their age, providing they are fully dependant on the main applicant. Another positive change is that if  dependant children loose their dependency status later down the line, (perhaps due to graduation or marriage) they can still retain their Permanent Residency status. Adoptive children can also be included as well as the main applicant and spouses dependant parents and grandparents. The Malta Indefinite residency programme is an ideal option for investors looking to include up to four generations of family.

Investment starts from just €370,000, making this a very affordable programme. The total investment for this programme needs to be made up from the following areas:

  • Investment of €250,000 into government bonds, refundable after 5 years
  • Additional contribution of €30,000 to Maltese government
  • Further €40,000 in legal and processing fees
  • Purchase or rent a property. (Minimum €270,000 purchase in Gozo, or €320,000 in Malta.  Or rental of €10,000 p.a in Gozo or €12,000 p.a in Malta.)

For more details on the Malta Indefinite Residency programme, please contact our team.

How to get Residency or Citizenship in Europe through Investment

January 14th, 2017   •   Passport, Residency   •   Comments Off on How to get Residency or Citizenship in Europe through Investment   

The new golden visa programmes in Europe have made it possible to get residency and citizenship through investment in real estate. Countries such as Cyprus, Spain, Portugal, Greece and Malta now offer this attractive benefit to high net worth invdividuals who invest in property in these countries.

We have highlighted below a brief description of the opportunity in each country along with the basic requirements such as how much to invest. However, for a full understanding of these options please contact one of our consultants.

Cyprus

Cyprus offers two programmes, one for permanent residency and one for citizenship. The residency programme requires an investment of €300,000 in real estate. For citizenship and an immediate second passport investment of €2 million is required. Both programmes are flexible for family qualification allowing parents, grand parents and children to qualify.

Read More: How to apply for residency and citizenship in Cyprus.

Portugal

Portugal offers a residency scheme through investment of €500,000 into real estate. This programme grants temporary residence to the investor and their family providing the investment is maintained and renewed every two years. After five years applicants can then apply for permanent residence and after six years for citizenship and a passport.

Read More: How to apply for residency and citizenship in Portugal.

Spain

The Spanish golden visa programme requires investment of €500,000 into property. Applications are processsed quickly and residency can be gained in a matter of months. For citizenship investors and their families need to live in Spain for a minimum of 10 years.

Read More: How to apply for residency and citizenship in Spain.

Greece

The cheapest residency investment programme currently available in Europe is that of Greece, requiring investment of just €250,000 in real estate. Flexible rules apply for full family qualification across three generations.

Read More: How to apply for residency and citizenship in Greece.

Malta

Malta is unique in requiring investment in property and further investment contribution in the form of a government donation. However citizenship and a second European passport is on offer to those investing and waiting the 12 months or so it takes to obtain full citizenship.

Read More: How to apply for residency and citizenship in Malta.

 

Other countries have residency and citizenship investment programmes that are not directly linked to real estate. Contact us for further details on how to apply for and buy permanent residency and citizenship through investment in the UK, USA, Bulgaria, Hungary, Dominica, St Kitts, Grenada, St Lucia and Antigua.

 

UK Residency by Investment post Brexit

June 28th, 2016   •   Immigration, Investor Visa, Residency   •   Comments Off on UK Residency by Investment post Brexit   

UK votes to leave the EUBrexit Vote

On the 23 June 2016 the UK electorate voted to leave the EU. So how does this affect immigration investment programmes in Europe that can lead to residency in the United Kingdom?

Current Situation

European Union citizens are free to travel, work and live in any other EU country. This means for countries such as Cyprus and Malta who issue citizenship and second passports through investment, that any investor in these programmes who gains a passport of that country, is free to live anywhere in the EU, including the UK.

Situation Post Brexit

It is important to understand at this point that the UK has not left the EU. The UK population has voted 52% to 48% to leave. But the referendum result is not legally binding and it is now down to the UK Prime Minister to invoke Article 50 of the European Union. Once invoked this starts a two year process for the UK to leave the European Union. David Cameron the current UK Prime Minister has gracefully passed this task on to his successor, whoever that may be.

The degree of Euro sceptism among potential candidates for Prime Minister varies with talk of potentially re-negotiating Britain’s position within the EU or maintaining many of the benefits and restraints within a new deal. Writing this just a few days after the referendum there seem to be many ways this could now play out, and varying timescales as to when it will eventually be resolved.

But let’s for the moment assume that the UK does invoke Article 50 and the UK leaves the EU.

Free Movement

One of the key principles of the European Union is the free movement of people. And that is the key question that concerns us when it comes to residency or citizenship by investment in any of the other EU countries. All EU members have to abide by this. In addition other countries gaining access to the single market such as Norway are also required to comply.

Until Article 50 is invoked and for the two year period afterwards then the UK remains part of the EU. This means that for the next two years, nothing will change. Any EU citizen can live in the UK or anywhere else in the EU.

Post EU Exit

For those EU nationals already living in the UK at the time of the UK leaving the EU (2018 possibly 2019) we suspect the chances of being allowed to remain are very high.

There are 3 million EU nationals living in the UK currently and 1 million UK nationals living elsewhere in the European Union. We expect an undignified 3 for 1 swap across the English Channel is unlikely. We also believe that there will be no distinction between those who entered post referendum or even post Article 50.

The reason being that such residents entered the UK completely legally under rules and laws at the time. Not only would it be difficult for a government to send back or “deport” such residents we expect it would not be in the government’s interests to enter into any political row with it’s European neighbours.

UK Residency

Our advice to anyone seeking UK residency through investment in the EU is to act now. Gaining residency in the UK directly through investment under the Tier 1 programme is virtually impossible in the current climate. Residency through a EU passport, as explained above, is the only viable option and one that is likely to remain an option for the next two years. The only countries through which an EU passport can be gained by investment within this timescale are Malta and Cyprus.

The earlier such investment is made, the earlier UK residency can be undertaken and the more likely it is that such residency will not be affected upon the UK leaving the EU.

European Countries – Real Estate Golden Visas

June 23rd, 2016   •   Real Estate, Residency   •   Comments Off on European Countries – Real Estate Golden Visas   

Despite popular belief there are very few European countries that offer residency through investment in real estate. These programmes guarantee the investor residency provided they meet some straightforward criteria. In some countries residency may progress to citizenship (Portugal, Spain, Greece) and in the case of Cyprus then citizenship by investment in real estate is immediate.

The countries offering this are Spain, Portugal, Cyprus, Greece and to some extent Malta, although further conditions are attached in addition to the purchase of property.

European countries without such golden visa programme for real estate include Albania, Andorra, Armenia, Austria, Belarus, Belgium, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Georgia, Germany, Hungary, Iceland, Ireland, Italy, Kosovo, Latvia, Liechenstein, Lithuania, Luxembourg, Macedonia, Malta, Moldova, Monaco, Montenegro, Netherlands, Norway, Poland, Romania, Russia, San Marino, Serbia, Slovakia, Slovenia, Sweden, Switzerland, Turkey, Ukraine and the United Kingdom.

Many European governments do offer residency through investment but that investment tends to be aimed at entrepreneurs aiming to create business and jobs in the country. Often there is an application process involving interviews and a consideration of business plans. In this sense the outcome is not guaranteed.

 

Europe Investment Guide

November 22nd, 2015   •   Citizenship, Investor Visa, Residency   •   Comments Off on Europe Investment Guide   

Several countries in Europe offer residency through investment in real estate. Some of these country programs may lead to citizenship and a European passport.

The key to these schemes, unlike traditional immigration programs is that the investor gains the right to travel and reside in the country without the requirement to live there and become tax resident.

Real Estate Investment Programs

Check our summary below for details on the five main programs in Europe that will lead to residency through real estate investment and follow the links to more detailed guides on each program.

Spain

Invest €500,00 in real estate. This gains residency in Spain for 5 years with renewals:

Read More: Golden Visa Spain

Portugal

Invest €500,00 in real estate. This gains residency in Portugal with the potential for citizenship and a second passport after six years, without the requirement to become resident.

Read More: Golden Visa Portugal

Cyprus

The ultimate program for those High Net Worth Individuals seeking quick citizenship and a European passport within three months.

Read More: Citizenship by Investment Cyprus

Malta

A lower cost option for citizenship in Europe for those prepared for a lengthier application process and willing to make a donation.

Read More: Citizenship by Investment Malta

Greece

The low cost option for residency in Europe. Invest just €250,000 in real estate. A Schengen country but future citizenship will only arise through 7 years of residency.

Read More: Investor Visa Greece

Permanent Residency

May 3rd, 2015   •   Residency   •   no comments   

It is now possible to gain permanent residency through investment in a European country without the need to live there and become tax resident. Countries offering permanent residency visas through investment include Spain, Portugal, Cyprus, Greece Hungary, Bulgaria and Malta.

Permanent residency gives the right to live in a country and is distinct from citizenship whereby a second passport can be gained. In Europe there are several countries offering temporary residence that later leads to permanent residency (PR) or alternatively permanent residency outright from the point of investment. In all cases where the applicant invests either in real estate or government bonds, there is no requirement for the applicant to reside in the country but they have the right to do so if they wish. There are also four Caribbean countries offering permanent residency as part of their citizenship programmes. They include St. Kitts, Antigua, Dominica and Grenada.

European Permanent Residency By Investment

Permanent Residency Portugal

Invest €500,000 in real estate plus related costs and taxes to gain residency. After five years applicants and their families can apply for permanent residency in Portugal.

Permanent Residency Spain

Invest €500,000 in Spain to gain residency and apply for permanent residency after five years. Investors have to live in Spain during that time.

Permanent Residency Greece

You can gain permanent residency in Greece through investing €250,000 in real estate. Taxes and fees on property are high in Greece, as much as 27% on top of the property price. Permanent residency can apply to three generations in Greece, that is parents and children

Permanent Residency Hungary

Invest €300,000 in government bonds in Hungary for permanent residency. The bonds pay zero interest and are refunded to the investor after five years.

Permanent Residency Bulgaria

Invest €512,000 into government bonds in Bulgaria to gain permanent residency. Investors can increase this to €1,024,000 to gain fast track citizenship in Bulgaria.

Permanent Residency Malta

Permanent residency through investment in Malta is achieved through the citizenship programme. This requires a total investment of around €1.2 million.

Permanent Residency Cyprus

Permanent residency can be obtained in Cyprus through investing €300,000 in real estate. Applicants can apply for citizenship by increasing this to €3 million.

Second Passport

May 1st, 2015   •   Citizenship, Passport   •   no comments   

A key objective for many of our clients is the gaining of a second passport and citizenship by investment of another country.

This is a step on from residency and the right to live in a country. It is often the next stage after a period of residency or through higher investment in a golden visa programme.

Below we list those countries in Europe and the Caribbean that offer second citizenship and a passport. Note that these are only countries offering such a facility through investment and without the requirement to live full time and become tax resident.

European Second Passport Investment

Portugal

Portugal is one of the most popular programmes in Europe. Invest €500,000 in real estate plus related costs and taxes to gain residency. This gives freedom of travel throughout the EU Schengen visa zone. After six years applicants and their families can apply for citizenship and hence a second passport allowing you and your family to travel, work, live and study anywhere in Europe.

Spain

Spain offers similar costs and benefits to Portugal but with one major difference. It is not possible to get citizenship and a second passport unless you reside in Spain for 10 years full time. It is why Portugal is currently issuing 2,000 golden visas a year compared to less than 100 in Spain.

Greece

Greece is the most affordable scheme in Europe but clients must be careful of the additional costs and the economic situation. You can gain residency through investing €250,000 in real estate. Taxes and fees on property are high in Greece, as much as 27% on top of the property price. Also the programme in Greece is residency only and does not lead to citizenship and a second passport currently except for applicants of Greek origin.

Hungary

Hungary is a very popular and affordable programme. Invest €300,000 in government bonds which is refunded after 5 years. Costs for the programme are €60,000 for a full family. This grants Permanent Residency in Hungary. Citizenship and a second passport in Hungary can be applied for after 8 years with a language test. Hungary is a member of the EU and Schengen zone which also means visa free travel to the USA and Canada. You gain visa free travel throughout the EU Schengen area and can apply for a European passport after 8 years. Hungary is a straightforward residency programme and in most cases will not require a visit to the country.

Bulgaria

Bulgaria is the most affordable route to citizenship of the EU. You can gain a second passport in Hungary within 21 months allowing you and your family to live, work, travel and study anywhere in Europe. This can be done for a total investment of €1,024,000 in government bonds which are repaid in full after 5 years. But a big benefit is that these bonds can be financed for a total outlay of €280,000. Although there is no return of capital this significantly reduces the cash outlay and is a popular choice. Costs under either option amount to around €30,000 for a family of 4.

Malta

Malta has a citizenship programme leading to a second passport within a year. However there are a number of restrictions with Malta, in particular showing ties and commitment to the island, maintaining a property and screening interviews. For those willing to maintain such connections citizenship is available at a total cost of around €1.2 million. But note €650,000 of that figure is a “contribution” to the government. That money is not returned.

Cyprus

Cyprus is the ultimate choice for High Net Worth individuals seeking a second passport. Investment of €3 million in a real estate portfolio gains a Cypriot and hence European passport within 2-3 months. This investment can be reduced to €500,000 after 3 years. An interesting fact for Cyprus is that a single investor is normally €5 million under government rules. However La Vida has the access and ability to group submit a minimum five applications regularly. Under this arrangement the investment requirement reduces to €3 million.

Caribbean Second Passport Investment

There are currently four programmes in the Caribbean offering citizenship, a second passport and visa free travel to many countries worldwide.

St Kitts

St Kitts is the oldest second passport programme by investment. Applicants investing $400,000 in government approved real estate projects (plus costs) gain citizenship. This grants visa free access to over 100 countries including the UK and Schengen zone. It is also possible to make a government contribution of a reduced amount depending on family size. Processing is slow taking typically 9 months.

Antigua

Antigua offers a similar second passport programme to St Kitts. An investment of $400,000 in government approved real estate projects plus costs gains citizenship. There is visa free travel to over 100 countries including the UK, Schengen zone and Canada. Processing is fast, typically 4 months.

Dominica

Dominica has just amended its citizenship programme to include a real estate option. You can now invest just $200,000 in real estate to gain citizenship and a second passport. Although offering slightly less countries for visa free travel than St. Kitts or Antigua (over 70), Dominica is a much reduced investment option.

Grenada

Grenada is a new second passport programme and is popular as it has no country restrictions for who it will issue passports to. There are of course strict due diligence checks on each applicant. Invest just $250,000 in real estate to gain visa free travel to over 70 countries including the UK and with the Schengen zone likely to be added soon (expected Q2 2015). Grenada is the only country offering citizenship to parents of any age as long as they are dependent. Processing is fast, within 4 months.

There are government fees and associated costs with each of the Caribbean programmes. As a guide these will range for a family of four from $130,000 up to $210,000. La Vida can give a more accurate assessment based on the make up of your family and the particular programme. Please complete your client details here if you require this.

Other European Countries

Popular countries in Europe for second passports include the UK, France, Germany, Belgium, Switzerland, Italy, Austria, Denmark, Ireland and Holland. However these countries do not offer second passports through investment alone but through other means such as creating and investing in a business. However it is important to note that citizenship and a passport from any EU country allows the holder to live and work anywhere in the European Union.

Citizenship by Investment

April 17th, 2015   •   Bonds, Citizenship, Investment, Real Estate, Schengen Travel   •   no comments   

European Citizenship and Passport

Citizenship and a European passport are often key objectives for many of our clients when considering the various European investor visa programmes.

It is important for any prospective investors to take careful professional advice on the programmes available before committing to an investment. There are many programmes on the market from differing countries, but not all of these lead to citizenship through investment.

The likes of Hungary, Greece and Spain are difficult or unlikely, sometimes requiring residence in the country. Portugal is far easier and Cyprus can be gained immediately with the right investment.

So what is citizenship and what benefits does it bring? Citizenship of any particular country within the European Union means a passport and importantly citizenship of the EU. So for example, if you gain citizenship in Portugal through real estate investment then you become an EU citizen. Similarly if you gain citizenship in Bulgaria through investment in government bonds you can also gain citizenship of the EU even though Bulgaria is outside the Euro and Schengen visa zone.

Every person holding the nationality of an EU country is automatically a citizen of the EU. This allows that person to move freely within the EU. To work, study and live wherever they wish within the European Union countries.

It is important to draw the distinction between the EU countries (there are 28) and the Schengen visa countries (there are 26). There are 22 EU countries participating in the Schengen visa zone and there are an additional 4 countries not part of the EU.

Residency in the Schengen visa countries allows freedom of travel throughout the Schengen area. But citizenship of an EU country provides the right to live and work within the EU countries. For example the United Kingdom and Ireland are EU countries, but not part of the Schengen visa zone.

Hence gaining citizenship in say, Cyprus or Portugal will allow the holder of that citizenship to live in the UK or Ireland.

Whichever country an investor targets for citizenship, there are sometimes faster, cheaper and easier options to gain permanent residency allowing them to live, work and study in that country by gaining entry through an alternative EU country.

Summary of Programmes in Europe

Citizenship by Investment Spain

It is possible to achieve citizenship through investment in real estate in Spain but the investor will need to live in Spain for 10 years before applying.

Citizenship by Investment Portugal

Citizenship can be applied for in Portugal six years after investment of a minimum €500,000 in real estate.

Citizenship by Investment Cyprus

Citizenship is available in Cyprus within 2 – 3 months on investing a minimum €2.5 million in real estate.

Citizenship by Investment Malta

Malta has an investment visa programme with a comination of investment and contribution totalling around €1.2 million with citizenship taking approximately 12 months.

Citizenship by Investment Greece

Citizenship in Greece through its real estate investment programme will be possible following changes to legislation (2015).

Citizenship by Investment Hungary

Changes to legislation in Hungary mean the investor visa bond programme could lead to citizenship after 5 years rather than the current 8 years. (2015)

Citizenship by Investment Bulgaria

The investment bond programme in Bulgaria can lead to fast track citizenship by doubling the bond investment from €512,000 to €1,024,000.

 

For reference the EU countries are: Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the UK.

Investor Visa Rules

October 7th, 2014   •   Bonds, Citizenship, Economy, Investment, Real Estate, Residency   •   no comments   

Investor Visa Programmes in Europe

Investors looking to buy into a visa programme in Europe are encouraged to do so sooner rather than later. After the credit crisis governments are keen to encourage investment from high net worth individuals from overseas. In exchange they grant residency often with complete freedom of movement and no requirement to live and become tax resident. Such residency can ultimately lead to citizenship and a second passport.

However some programs have been subject to change. Cyprus increased its investment for citizenship limit from €2.0 million to €2.5 million recently and Hungary is expected to increase its investment limit in government bonds from €250,000 to €300,000 soon. Latvia doubled its real estate investment limit in April 2014. Changes will not affect those families who have already invested in the programmes.

Portuguese Minister of Tourism Adolfo Mesquita Nunes confirmed recently at a conference in London attended by La Vida that there would be no change to the minimum investment of €500,000 for the golden visa in Portugal.

Below is a brief summary of investor visa limits for each country:

Investor Visa Portugal

Invest €500,000 in real estate plus related costs and taxes to gain residency and eventual citizenship through application. After six years investors and their families can apply for citizenship in Portugal.

Investor Visa Spain

Invest €500,000 in Spain to gain residency and apply for permanent residency after five years. Investors have to live in Spain during that time. and can later apply for citizenship after ten years.

Investor Visa Greece

Investors can gain permanent residency in Greece through investing €250,000 in real estate. Greece offers the lowest investment level in Europe for the golden visa.

Investor Visa Hungary

Investors can place €300,000 in government bonds in Hungary for permanent residency. The bonds pay zero interest and are refunded to the investor after five years. However the investment is guaranteed.

Investor Visa Bulgaria

Investors hae a tiered option in Bulgaria. Invest €512,000 into government bonds in Bulgaria to gain permanent residency as a first stage. Investors can increase this to €1,024,000 to then gain fast track citizenship in Bulgaria.

Investor Visa Malta

Investment in Malta can gain permanent residency through the Maltese investment programme. Residency and citizenship can be achieved in Malta through a series on investments and contributions. This requires a total investment of around €1.2 million.

Investor Visa Cyprus

Cyprus has two levels of investor visa. One for permanent residency and one for citizenship. Permanent residency can be obtained in Cyprus through investing €300,000 in real estate. Applicants can apply for citizenship by increasing this to €3 million.