Ultra high net worth individuals are increasingly on the move to locations where opportunities exist, mainly due to the global nature of business holdings, the increasing ease of travel, and the rise of global citizenship investor programs.
Research shows that 12 of the top 40 ranked cities for the ultra-high net worth individuals are European. The cities are London, Paris, Zurich, Geneva, Frankfurt, Madrid, Vienna and Milan.
With greater numbers of ultra-wealthy individuals seeking to move to Europe, Malta is positioning itself as a location of choice, offering not just a luxurious lifestyle and tax benefits to foreigners, but full nationality through its own citizenship by investment program.
The primary benefit of acquiring Maltese citizenship through its citizenship by investment program is that as a full member of the European Union, a Maltese passport guarantees access to all other European member states, as well as visa-free travel to most other countries.
In addition, the island is deemed highly attractive in its own right for its pleasant climate, low crime rate, sandy beaches and colourful nightlife. It is also exceptionally rich in history and culture, with its strategic location in the heart of the Mediterranean placing it within comfortable distance of the world’s power centres.
With a 15 per cent flat tax rate, and zero inheritance, wealth, and property taxes, Malta’s proposition deserves serious consideration.
In order to become a citizen of Malta, the requirement is for an investor to purchase a property in Malta valued at €350,000 or more, or to lease property for €16,000 per annum. Investors must also make an investment of at least €150,000 in stocks or bonds, and make a minimum contribution of €650,000 to the Maltese government.
The process of taking up residence in Malta and being granted citizenship takes about 12 months, after which the investor can begin enjoying the many benefits of Maltese citizenship.