Everyone certainly strives for prosperity. Unfortunately, it is not always possible to achieve it in your homeland. You can try different countries, studying their opportunities, allowing you to run a business. High social standards remain a priority for others.
In this aspect, many people are still undecided: get a Turkish identity card or obtain Malta citizenship by investment. Nevertheless, interesting opportunities exist for conducting and developing your business in these territories. Evgeniya Morozova, an expert in Immigrant Invest, talked about their features.
Malta Citizenship by Investment Program
The Malta CBI program for foreign residents has been implemented since 2020. The central point of the new strategy is to allow the relatives of the investor to get maltese passport for significant financial contributions to socio-economic projects.
Eligibility Criteria
The following persons may apply for naturalization:
- the main applicant is 18 years of age or older;
- spouses;
- children under 28 years who are financially dependent and unmarried;
- parents who are over the age limit of 55.
Maltese applicants must have no criminal record, which includes no criminal convictions, deportations, or sanctions. In addition, you must provide documents containing information about the person’s residence for three years to apply for a Maltese passport.
Investment Options
Every person can count on obtaining malta citizenship by investment if several conditions enshrined in the legislation are met. These can be direct investments in the economy or social development of the country:
- 600,000 euros. Such an amount is paid if the principal applicant and relatives included in the application have a resident status for three years before naturalization.
- 750,000 euros. If people had a residence permit for 12 months.
Interestingly, you have to pay an additional 50,000 euros per family member, and such investments are not refundable.
However, it is possible to become a citizen of Malta in another way: through real estate transactions if a resident acquires a property of 700 000 euros or rents a house of 16 000 euros for five years. Moreover, the state does not allow the leased real estate to transfer to third parties.
Charity also serves as a basis for naturalization. For example, a donation of €10,000 to a foundation that sponsors cultural, scientific, sports, and educational projects will enable you to become a maltese passport holder.
Benefits of Malta Citizenship
The main advantages of naturalization in the country are:
- possibility of living in any territory of the EU;
- visa-free travel to 186 countries, including the USA;
- opportunity to graduate from prestigious European universities;
- quick change of tax address.
Membership of Malta in the Commonwealth of Nations allows its citizens to receive benefits for business or study.
Turkey Citizenship by Investment Program
Everyone can obtain a passport for such an exciting country located at the crossroads of Europe, Asia, and Africa. But you must meet not only certain requirements but also perform several actions. You cannot get Turkey citizenship by investment for anything.
Eligibility Criteria
In addition to fulfilling the program conditions, foreigners will have to follow the law and provide documents confirming the absence of a criminal record. Citizens of Armenia, Nigeria, Cuba, North Korea, and Syria are exempt from the program.
Turkey citizenship by investment is granted to the investor’s wife and children under 18 years at the time of naturalization. In addition, parents and adult children have the right to obtain a residence permit in the country, for which they will have to pay 5,000 U.S. dollars for each person.
If the investor’s relatives have sources of income, they are not included in the application. However, they can obtain a Turkish passport as individual applicants who fulfill the requirements under the investment program.
Investment Options
Foreigners usually receive a turkey passport by investment within 3-6 months. You have to do the following for this purpose:
- Purchase real estate of 400,000 dollars and more. The client can apply for an apartment, house, plot of land, or even business premises.
- Put the amount of 500,000 dollars in a bank account. Foreigners can save money in any currency the country’s banking system accepts.
- Investing $500,000 in national bonds. A foreigner can buy stocks and other securities of venture capital and additional funds.
- Acquisition of investment fund shares of $500,000 or more. The investor must retain these assets for three years.
- Opening a business with a share capital of $500,000 or more. The company must also provide 50 people with jobs.
The financial investment in naturalization can pay off. After a specific time, you can sell papers or real estate and close the account. All this promises a good profit.
Benefits of Turkey Citizenship
Turkey is a southern country known for its historical sites, mild climate, good food, and hospitality. Many people would like to become Turkish citizens, as there are certain advantages:
- visa-free travel to 110 countries;
- the possibility of obtaining a U.S. investment visa;
- ease of naturalization;
- high social standards;
- the possibility of obtaining EU citizenship in the future.
As we can see, foreigners’ aspirations are not unreasonable.
Comparison of Malta and Turkey’s Citizenship by Investment Programs
Both countries have strategies that allow citizens of other countries to obtain their passports. Each program has its benefits if we make a comparison. It is possible to naturalize in both countries for investment. But the choice of citizenship is a strictly personal matter for everyone.
