OCTOBER 2015 MONTE-CARLO
Access to the EU via Malta (and other routes) [ PETER KRUMMENACHER
]
IN THE 1990s, there were few citizenship programmes, and none
in Europe. Now there are programmes in many European countries, and many people are on the move. Rich people are looking for security, for healthcare, for freedom from pollution, and for their children’s education. Tax is important, but it is not the most important factor. Visa-free travel is sought, as is a safe haven and freedom to move to other countries (e.g. within the Caribbean or within Europe). Some countries – e.g. China, India, Ukraine – forbid second citizenship, as does Germany to some extent. Malta has the most successful
programme. It is a small island, but it offers the right to move to another EU country. Step 1 is the acquisition of a residence permit. This is to be followed by some visits and then investment of approximately €1m. Cyprus is another possibility. An investment of €5m (or a joint investment by five investors investing
€2.5m each). The process takes three months. The tax regime is favourable. The UK has a successful investment
programme. The London lifestyle is attractive. The UK programme is for individuals who want to live there. After five years, the investor can apply for a UK passport for himself and his family. The non-dom tax regime is very favourable for 15 years. The programme of Portugal makes a
residence visa available to the non-EU national. Citizenship is possible after six years, but close ties are required and there is a language test. The Swiss residence programme is
attractive. EU nations have free access. For the non-EU national, residence is possible if he pays tax at a level satisfactory to the Canton. Citizenship is hard to acquire. A low tax rate is available in some Cantons and a forfait ruling for the immigrant who is not working.
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The ITPA Green Book 2017
www.itpa.org
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