Both Malta and Cyprus have recently announced that they would close their highly sought-after Citizenship by Investment (CBI) Programs.
While Malta has announced that it would resolve its CBI program sometime in the future, Cyprus left the question unanswered. Indeed, Cypriots authorities have yet to confirm whether or not a new CBI program is underway.
The government of Malta stated that the new CBI regulations would ensure a stricter application process. Individuals will only be able to apply for Maltese citizenship after three years of residence or by exception through a higher investment after one year.
Moreover, individuals will only be allowed to apply for citizenship if they successfully pass a due diligence assessment test. Finally, the new regulations will no longer have a concessionaire, in contrast to the previous program. The official date for the launch of the new program remains to be announced.
Global Citizen Solutions will continue to monitor the situation and provide timely updates.
What other citizenship by investment options do you have?
Fortunately for international expats, the Caribbean countries also offer fantastic citizenship by investment programs. With a fast process and affordable investment options, these citizenship schemes prove to be valuable opportunities for individuals seeking to enjoy residency under the sun, increased mobility freedom, and advantageous tax exemptions. Below are some of the most popular Caribbean Citizenship by Investment Programs:
- St Lucia Citizenship by Investment Program
- Dominica Citizenship by Investment Program
- St Kitts and Nevis Citizenship by Investment Program
Whatever your needs are, Global Citizen Solutions can assist. We provide bespoke second residency and/or citizenship solutions to international families and have helped hundreds of expats secure legal residency abroad. Contact us today for more information about our programs.