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Citizenship by Investment

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The Malta Individual Investor Programme (“MIIP”) is described as the most successful citizenship-by-investment programme in the world. Limited to 1800 successful main applicants, the MIIP offers high net worth individuals of reputable standing the luxury of visa-free travel to over 160 countries, including all Member States of the European Union and Canada.

The MIIP also stands out as being the first citizenship programme to be officially recognised by the European Commission; an an endorsement that adds further value to a programme intended to attract talented individuals of the highest calibre to Malta.

The application process of the MIIP is also accompanied by the strictest levels of due diligence, thereby protecting the prestige and good reputation globally associated with the Maltese passport.

Qualifications and General Requirements

 

1) Age: Applicant must be at least 18 years of age.

2) Contributions - Applicant is required to make the following contributions:
a) National Development and Social Fund - €650,000;

b) Real Estate – Applicant to choose 1 of the following 2 options:
i) Letting Option – Residential property must be leased for a minimum period of 5 years at a minimum annual lease payment of €16,000;
ii) Purchasing Option – Residential property purchased must be valued at not less than €350,000 and may not be sold before 5 years from date of purchase;

c) Government Securities – €150,000.

3) Residence: Applicant is required to reside in Malta for a period of 12 months and provide evidence thereof.

4) Insurance: Applicant is required to provide evidence that he/she and his/her dependents are covered by a global health insurance policy with a minimum coverage of €50,000, further showing that he/ she is in a position to maintain such policy for an indefinite period.

5) Due Diligence: Applicant is required to demonstrate that he is fit and proper to become a Maltese citizen through the successful completion of a rigorous due diligence process.

Eligibility Criteria:

 

Disclaimer:
This section is intended to serve as an indication of the level of standards related to eligibility criteria and does not exhaustively cover all instances that may disqualify an applicant from being granted citizenship. It is therefore recommended that any matter that may have a bearing on the eligibility of the applicant or his/her dependents is clarified at the outset of the application process.

In addition to the above requirements, other criteria must be satisfied for an applicant and his dependents to be considered eligible for Maltese citizenship. In essence, elaborate background checks on applicants and dependents aged over 12 are carried out and, accordingly, police certificates indicating a clean criminal record will be required.

It follows, therefore, that applicants and dependents that have been indicted before an international criminal court or those that are under investigation by INTERPOL are not eligible for Maltese citizenship. Similarly, applicants cannot be persons who, at any time, were charged with certain crimes such as money laundering, terrorism, funding of terrorism, crimes against humanity, war crimes, crimes that infringe fundamental human rights, crimes that are punishable by imprisonment for a term exceeding 1 year (excluding involuntary offences) and crimes that disturb the good order of the family including offences such as defilement of minors and violent indecent assault.

In addition to the above, an application can also be discarded if Identity Malta or any other relevant institution considers the applicant or any of his/her dependents to be a potential threat to national security.

Identity Malta will also discard an application in the event that false information is provided or in the event that the applicant or his/her dependents have been involved in activities that are likely to cause disrepute to Malta.

Finally, applications may also be discarded if the applicant has been denied a visa to a country with whom Malta has visa-free travel arrangements and has not subsequently succeeded in obtaining such visa in the country that issued the denial. In this particular instance, however, Identity Malta may continue processing the application if it is satisfied with the applicant’s submissions which are intended to prove that the applicant is still worthy of being considered for approval.

The Application Process

 

Every application shall be presented to, and be examined by, Identity Malta, either directly or through the concessionaire. The application must be presented through an Approved Agent and a non-refundable payment of €10,000 must also be made.

Once the application is submitted, Identity Malta proceeds to verify the completeness of the documentation submitted together with the due diligence exercise carried out by the Approved Agent within 90 days.

Within 30 days from the date of the completion of the verification period referred to above, Identity Malta will then notify the Approved Agent in writing on whether the application has been accepted or refused. At this stage, Identity Malta reserves the right to also inform the Approved Agent that the application is still in process.

In the event that the application is approved, Identity Malta will issue a letter of approval to the main applicant while requesting him/her to provide evidence of a global health insurance policy with a minimum coverage of€50,000 for the main applicant and each of the dependants and must provide evidence that they can maintain the same for an indefinite period. Within 4 months from the date of the said letter, the applicant must also provide the written undertakings related to the required investments as detailed above.

Once the application has been accepted the applicant must, within 5 days, remit the contribution which is to be received within 20 days from such instruction. After all the above requirements have been satisfied Identity Malta will notify the Minister to issue a certificate of naturalization which grants Maltese citizenship.

Contributions and Fees

 

National Development and Social Funds (NDSF) Contribution

Principal Applicant: €650,000
Spouse: €25,000
Each Dependant aged 0 – 17: €25,000
Each Dependant aged over 18: €50,000

Government Due Diligence Fees

Principal Applicant: €7,500
Spouse: €5,000
Each Dependant aged 13 – 17: €3,000
Each Dependant aged over 18: €5,000

Other Fees

Passport Fees per Person: €500
Bank Charges per Application: €200

If you are interested in finding out more about this programme, get in touch for a no obligation consultation. Contact us now.