Citizenship by investment is a process whereby a country, by way of exception, grants citizenship to eligible applicants that make a significant investment into its local economy. Successful applicants can enjoy benefits such as lifted travel restrictions, the right of work and establishment and potential tax planning benefits.
However, before applying for citizenship there are some key points for consideration:
- What are the reasons behind applying for alternative residence and citizenship?
- What residence/citizenship programme(s) best meets these needs?
- Who is the application for? An individual with/without spouse/dependents?
- Do I qualify and meet the eligibility requirements?
Abacus has understanding and experience of Residence & Citizenship applications and is able to advise and assist wealthy individuals and their families wishing to apply for citizenship in an alternative EU jurisdiction. We help clients in choosing an appropriate citizenship programme and country of residence, guiding them through the application process and ensuring that preparation and submission of their application is correct and processed in an expedient manner.
We offer advice and assistance for the following programmes:
- Isle of Man Immigration – Tier 1 Visa
- Malta Residence and Visa Programme
- Malta Individual Investor Programme
- Malta Global Residence Programme
Isle of Man Immigration – Tier 1 Visa
Immigration into the Isle of Man is governed by the UK Immigration Act 1971 as extended to the Isle of Man by the Immigration Isle of Man Order 2008 and applied through Immigration Rules.
Tier 1 (Entrepreneur) Visa is aimed to persons who wish to establish, join or take over one or more businesses in the Isle of Man. Tier 1 (Investor) Visa is the route for high net worth individuals making a substantial financial investment within the Isle of Man.
Successful applicants can potentially benefit from a favoured tax system, as well as Common Travel Area and no purchasing restrictions on property.
As well as assisting with the application procedure, Abacus provides the required corporate structure and business support services to entrepreneur visa applicants and the required asset protection/investment vehicle for investor visa applicants from the outset and for as long as it is required.
Malta Residence and Visa Programme (MRVP)
The Malta Residence and Visa Programme (MRVP) is a fast and efficient way for foreign investors from non-EU countries to obtain a valid European residence permit legally. Once a residence permit is issued, it confers residency rights to the holder of the permit together with his/her registered dependants to settle or stay indefinitely in Malta. The MRVP will allow the investor and their family to enter and/or live in Malta, as well as to travel freely to all EU Schengen Area countries.
Individuals granted a permit under these regulations may also be eligible (under the Global Residence Programme) to apply for a beneficial tax rate of 15% on income received in Malta from foreign sources with the possibility to claim double taxation relief.
All applications must be submitted to Identity Malta via an approved agent or accredited person. Abacus Corporate Services Limited is an approved agent and can ensure a complete and fully supported application is submitted on your behalf.
Malta Individual Investor Programme (Malta IIP)
Following an amendment to the Maltese Citizenship Act, Chapter 188 of the Laws of Malta which was passed in November 2013; foreign individuals and families who make a financial contribution to the economic and social development of Malta may be granted Maltese Citizenship, by a Certificate of Naturalisation through Malta IIP.
Malta IIP is aimed at ultra-high net worth individuals and their families wishing to secure citizenship of an EU member state and, if successful, can afford benefits including visa free travel to more than 160 countries in the world; the right of work and establishment in all 28 EU countries; and potential tax planning benefits.
An application for Maltese Citizenship must be made through an accredited agent. As an accredited agent, Abacus Corporate Services Limited will assist you in the completion of your individual Investor Programme application, collating the necessary identification and verification documents to ensure that your application is wholly ready for processing and approval.
Malta Global Residence Programme
The Malta Global Residence Programme was launched in 2013 to attract expatriates looking for an alternative residence in the European Union.
A tax driven scheme, it is particularly attractive to non-EU nationals who previously relied upon the Malta HNWI Scheme for alternative residence in Europe. It affords successful applicants the ability to establish an alternative residence to suit their tax profile at a reasonable cost.
As resident non-domiciled individuals, beneficiaries under the GRP are granted a special tax status whereby income arising from foreign sources and remitted to Malta is taxed at a preferential income tax rate, as well as a number of other tax benefits.
Application must be made via an Authorised Registered Mandatory; a person who qualifies and is registered with the Inland Revenue Department to act in such a capacity. Abacus Corporate Services Limited is registered as an Authorised Registered Mandatory.