United Kingdom Conservative party leader Kemi Badenoch’s proposal to extend the UK’s time-to-citizenship timeline to 15 years is a major shift for UK Non-Doms, a UK resident whose permanent home – or domicile – for tax purposes is outside the UK.
The party wants the government to adopt the changes, backdated to 2021, by amending its Border Security, Asylum and Immigration Bill, which is scheduled for debate in the UK Parliament next week.
There are several implications for UK Non-Doms:
- More uncertainty & delays – The UK’s citizenship would become harder to obtain.
- Exits following UKs announcement on ending its Non-Dom regime – This will add weight to many families who are already considering or preparing to leave due to the recent changes
- Increased demand for alternative Citizenship and Residency options.
- Malta’s 18-month (approx.) Citizenship by Investment route will become even more attractive.
- Portugal, Italy, Monaco and Switzerland will also gain more interest.
- Caribbean CBI programs may serve as short-term solutions for alternative citizenship.
- More UK Non-Doms would opt for UK Residency without citizenship – Some may stay in the UK on residency visas, including ILR (Indefinite Leave to Remain) while securing citizenship elsewhere.
- Immediate impact on those in process – If backdated to 2021, some of those currently on the path to UK citizenship may need a Plan B.
What Citizenship and Residency programs Malta offers:
- Malta’s Citizenship For Exceptional Services by Direct Investment (CDI) – Maltese citizenship in approximately18 months.
- Malta’s Permanent Residency Program (MPRP) – permanent residency status in Malta. Malta has been a member of the EU since 2004.
- Malta’s Global Residency Program (GRP) – a path to Malta residency with a special tax status for non-EU/EEA/Swiss nationals within approximately 6 months
- Malta’s The Residency Program (TRP) offers a path to Malta residency with a special tax status for the EU/EEA/Swiss nationals within approximately 6 months .
Malta’s smart citizenship and residency solutions for entrepreneurs and HNW/UHNW families meet a range of strategic objectives. For more information contact us.
