The Malta Individual Investor Programme is reaching its cap and will only continue accepting applications for citizenship under the programme until the 30th of September 2020.
What is the Malta Individual Investor Programme?
Introduced at the beginning of 2014, the Malta Individual Investor Programme (MIIP) offers wealthy individuals and families from anywhere in the world citizenship in a highly respected EU Member Country.
The Malta Individual Investor Programme is the first investment citizenship program of its kind to be recognised by the European Commission, and the executive body of the European Union has formally acknowledged the legality of the program. This was achieved because the Government of Malta has shown it is committed to the highest standard of due diligence and vetting of investor applicants, ensuring only persons of impeccable standing and repute will be admitted. As such, whilst it is not the fastest or cheapest route to EU citizenship, it is arguably the most secure.
It is administered by a public body called Identity Malta. However, you may only apply via an approved intermediary such as Boston.
The Benefits
Successful candidates will be granted citizenship in Malta by a Certificate of Naturalization, which can also be extended to include their families. Once a candidate is awarded Malta citizenship, which includes EU citizenship, they have the right of establishment in all 28 EU countries and Switzerland. This provides an individual and their family members the opportunity to live, work and study in any of the member countries of the European Union.
Successful individuals also have the ability to set up business in Malta, and can get a Malta passport enabling them to enjoy visa-free travel to more than 166 countries across the world including the USA, Canada, Middle East, Africa, Asia, and most countries in North, Central and South America. Once obtained the citizenship is hereditary, and may be passed down to any future generations.
Malta is a safe country that enjoys a low cost of living index. The country has long been a vacation spot for Europeans and high net worth individuals who flock to the island for its sunny and warm climate year-round. Malta offers a modern infrastructure, ranging from reliable phone and internet service, to secure banking, to well-established air and sea routes connecting the island to the European mainland and international destinations.
Eligibility
To be considered eligible for Maltese citizenship, the main applicant must be at least 18 years of age and meet all of Malta’s immigration requirements.
The Malta citizenship by investment program has some of the strictest due diligence standards of any immigrant investor program in the world to ensure only deserving and reputable applicants are granted Maltese citizenship. Applicants must therefore have a clean criminal record, verified by the Malta government through INTERPOL, the International Criminal Court, and various other sources and authorities.
Applicants must also show that they do not suffer from any contagious diseases. All individuals party to the application are required to hold global health insurance coverage for a minimum amount EUR 50,000 and must give proof that they can maintain the same for an indefinite period.
All individuals and families applying to the Malta Individual Investor Program must make a non-refundable contribution (€640,000) to the National Development and Social Fund set up by the Government of Malta and run by a board of trustees . The fund finances projects in the country linked to public health, education, job creation, social improvement, and innovation.
Applicants must also commit to retaining an immovable residence in Malta for a minimum time period of five years, which cannot be let or sublet. This can be done by either buying a property in Malta for at least €350,000 and maintaining ownership for 5+ years, or by leasing a property for 5+ years with a minimum annual rent of €16,000.
Before an individual can be admitted for a Maltese citizenship by investment, applicants are further required to invest at least €150,000 in government approved financial instruments (bonds, stocks, and debentures that benefit the nation) and must commit to keeping the investment for at least five years, after which it will be returned with interest.
Finally an applicant must be able to prove that they have maintained residence in the country for at least one year prior to citizenship being granted.
If you are interested in applying for Citizenship in Malta and would like to know more please get in contact with us.