Many aspire to become citizens of Old World countries. This provides security, benefits, and prestige — comfortable conditions for running a personal business, capital protection, and relatives’ welfare. In general, there are many reasons why wealthy people choose the economic citizenship programs of Cyprus and Malta. But which is better? Let’s compare both options and then draw a conclusion.
It is necessary to assess several factors at once. These are the registration cost, document collection, and options for real estate investment in Malta and Cyprus. In these countries, there are government programs that allow one to get the desired in this way. Wealthy individuals do not mind taking advantage of this opportunity to discover a new life rich in prospects.
Overview of Malta’s Real Estate Investment Market
The attractiveness of this country for investing and living is undeniable. High indicators of personal security, individual freedom, and good quality of medical services are not all the benefits of this place. The state is ranked among the most economically developed and politically stable. It has survived even major crises with minimal losses.
There is a solid Malta real estate market to choose from for all tastes.
What is good about immigration there in general:
- a lucrative investment program that allows one to take possession of a second European passport;
- thanks to a vast network of international agreements, it is realistic to avoid double taxation;
- an adequate amount of the required authorized capital;
- loyal tax policy for business;
- well-thought-out logistics of transport communications.
Malta real estate investment is a popular way to get a passport, which requires several actions. First – donate 650000 euros to a special fund of the government. It is also necessary to buy real estate in the country. Its market cost should start from 350000 euros. There is another option – rent a residence, the price of which is not less than 16000 euros per year. Duration – 5 years. In addition, the investor has to invest money, namely 150000 euros, in government bonds.
Additional fees must also be considered so the final amount will be more than the above. The terms of this case must be studied on an individual basis.
Overview of Cyprus’s Real Estate Investment Market
Residential and commercial properties are equally eligible for the program. Although the requirements may differ. Residential, for example, is purchased only from a developer, commercial – in the primary and secondary market. The island’s excellent geographical location, comfortable standard of living, warm climate, and high investment potential are the key factors guiding investors in their choice of property.
What one can end up with, having a permanent residence permit:
- the prospect of obtaining EU citizenship;
- move to a country with a comfortable climate and excellent living conditions;
- accelerated receipt of a Schengen visa;
- a chance to do business;
- the use of the services of European banks.
During 2022, the country’s economy has maintained steady growth, despite the effects of rising inflation, which led to a slight decrease in purchasing power. However, this has not affected the Cyprus real estate market. The number of properties sold is increasing rapidly.
Individuals who have lived in the country for seven years can apply for citizenship. But obtaining the document through investment is considered more acceptable for wealthy people. In addition, there are several Cyprus real estate investment opportunities. One can buy both the object itself, as well as a plot of land for development. There is also an alternative – invest about 2 million euros in an existing business or personal project. There are no restrictions on the scope. A combination of these options is not excluded. In this case, one needs to examine the requirements for investment carefully.
Direct Comparison Between Malta and Cyprus Real Estate Investment Opportunities
As noted by the St. Lucia investment program expert Zlata Erlach, a representative of Immigrant Invest, there are some crucial features of each option. Considering the first-mentioned program, the impossibility of acting as a landlord by the person who bought the house is worth noting. One can not rent the apartment. One cannot make money on this but try to do so on government bonds.
As for Cyprus real estate investments, for many, they are more attractive because it is a valuable asset. Housing is allowed to be rented out, so it can generate income. Residents must own such an object, the value of which is 500,000 euros and above.
Both passports, however, are influential. According to the comparison of the two programs, document holders have the right to cross several countries’ borders without considering the need to make a visa. Although there is one difference – Maltese can travel freely to the U.S., while Cypriots need a visa.
Conclusion
As one can see, both programs have advantages and some pitfalls. It is essential to study in advance all the specifics of obtaining and submitting documents and other procedures and decide which option is optimal.
To achieve the desired result as quickly as possible, you should seek the help of specialists. Only in this way you will get rid of unnecessary troubles, as experienced employees are familiar with all the subtleties. This is what will allow you to cope with the task of any complexity.
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