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Articles contributed by Valletta Legal

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A BRIEF COMPARATIVE STUDY OF THE CITIZENSHIP FOR INVESTMENT PROGRAMMES OFFERED BY MALTA AND CYPRUS.

July 2018 - Tax & Private Client. Legal Developments by Valletta Legal.

More articles by this firm.

Introduction

 In recent years many countries have initiated programmes allowing high net-worth individuals to acquire citizenship by means of investment. Certainly, one cannot deny that this process has been influenced by destabilization of certain regions, globalisation and migration for reasons of stability, prosperity and other personal reasons or financial reasons that such persons may have.

The desire to attract new investors and capital has for decades incentivised countries to conclude visa-free travelling arrangements and offer residence and citizenship programmes. Indeed, there is no doubt that citizenship by investment is one of the mechanisms that can be used for such purposes and whilst several countries have previously embarked on such programmes, Malta and Cyprus can nowadays be seen as two major players in this field. Other comparable programmes are offered by Antigua and Barbuda, The Republic of Austria, The Republic of Bulgaria, Grenada, St Kitts & Nevis, and The Dominican Republic.

Since both Malta and Cyprus are relatively similar in nature, being two islands in the sunny Mediterranean Sea, being predominantly English speaking, having similar Mediterranean cultures and offering similar lifestyle, the scope of this article has been restricted to the comparison of the relevant Maltese and Cypriot citizenship for investment programmes.