Advisory Warns That Malta Residency Fee May Go Up

Posted date: 22 Jul 2021

All persons interested in the current Malta Programme must book an appointment before July 31, according to the  Dubai-based RIF Trust, a chief residency and citizenship by investment advisory.The call came after the company’s claims that the new citizenship programme is expected to be €150,000 more expensive, SchengenVisaInfo.com reports. According to the company’s statement, the move will save €150,000 as its quota is now almost full.

Authorities in Malta permitted for a concession of 1,800 families to obtain a limited number of passports, in 2013. The programme is also popular in Saudi Arabia. “Our clients in Saudi Arabia are high net-worth individuals who are looking for greater access to Europe and the USA for themselves and their families. With a Malta passport, they can genuinely access any part of the world,” CEO of RIF Trust, Mimoun Assraoui pointed out. Assraoui stressed that those who cannot afford the €1 million capital outlay or are seeking permanent residency instead of citizenship, we have many Saudi Arabian clients choosing Malta’s Residency and Visa Programme for €190,000.

“This programme gives the main applicant and their family permanent residency immediately and visa-free access to the EU’s 26 Schengen countries,” he said. Due to the Coronavirus situation, Malta decided to impose entry bans and travel restrictions, as an effort to stop the spread of the virus. On July 15, the country announced that it had expanded the list of world citizens eligible to enter the island country, as the Coronavirus situation allowed it to gradually lift some of its imposed restrictions, adding to its list new third countries, entirely out of line with the EU Commission’s and Council’s recommendation.

Malta reopened commercial travel to the country for several EU nationals, since July 1. Earlier this month, Tourism Minister Julia Farrugia Portelli announced that Malta would restore commercial flights as scheduled on July 1, while the country had been negotiating about travel restrictions with Brussels.

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GSP Admin