The Malta Citizenship Program is aimed at high net worth individuals who must make a minimum contribution of €650,000 to the national development fund (government run), €150,000 in government approved instruments and commit to a residence in Malta for a minimum of 5 years. The residence can be rented or purchased. If bought, the property value should be a minimum of €350,000. For rental properties, the commitment required is €16,000. Finally, each family member also has to contribute a €25,000 sum to the development fund. After one year residency in Malta, the family gain a Maltese passport which in turn grants EU citizenship.