Last chance for expats living in Saudi Arabia to take advantage of the current Malta citizenship regulations
16 July 2020
In 2013, the Malta government allowed for a concession of 1,800 families to obtain a limited number of passports. The programme has proven popular with Saudi Arabian expats from neighboring countries with limited visa-free travel, such as Yemen Lebanon, Syria and Jordan, and other gulf state residents in the UAE who make up a large share of the applicants. Subject to due diligence checks, this programme grants EU citizenship in exchange for a €1 million capital outlay for a single applicant and has become world’s most prestigious and powerful Citizenship by Investment Programme.
The Malta programme has been extremely popular with Saudi Arabian expats as it offers several benefits; such as visa-free access to 184 countries, the ability to live, travel, work and study anywhere in the European Union’s 26 countries; Malta also has a visa-waiver programme with the USA allowing visa-free travel for business or leisure for up to 90 days and flexibility to do business anywhere in Europe. Given COVID-19, Malta’s free and strong healthcare system has become increasingly attractive for its citizens. In addition, Malta has many strong historical links with Arabic culture with 32% of the Maltese language based in Arabic.
Mimoun Assraoui, CEO of RIF Trust and Vice-Chairman of Latitude, says, “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 truly access any part of the world. For those that 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 to the main applicant and their family permanent residency immediately and visa-free access to the EU’s 26 Schengen countries’’.