The Malta Individual Investor Programme allows for the granting of citizenship through a certificate of naturalisation
The Malta Individual Investor Programme or MIIP scheme offers individual investors a great opportunity for financial investment in Malta. If you have any questions about the details in this article please contact a Papilio advisor who can help you look at your investment options. The Malta Individual Investor Programme was launched by the Government of Malta to encourage more foreign investors to bank with them, and ultimately help to boost the Maltese economy. It is the first programme of its kind to have had its validity officially recognised by the EU Commission.
Anyone considering moving to Malta, and who invests in Malta, will be entitled to become a naturalised Maltese citizen after taking up residency for one year. Because Malta is an EU member and part of the Schengen Area, gaining an Malta Individual Investor Programme or MIIP would allow anyone considering moving to Malta to also gain significantly improved freedom to travel within the other 27 member states of the EU, and also the four member states of the European Free Trade Association.
Once confirmed as a Maltese citizen, you will also be able to take advantage of visa-free travel to over 160 countries. Very handy if your business involves a lot of work related travel! Like many countries, Malta has a set of requirements in place that must be met by the primary applicant for Maltese citizenship. These are set out below:
- The applicant must be over 18 years of age;
- You must be able to contribute the amount of € 650,000 to the National Development Social Fund;
- You must purchase a property in Malta and provide proof thereof, with a minimum value of €350,000 and not sell the property for a period of 5 years, or be able to lease a property for at least 5 years with a minimum annual rent of € 16,000;
- The applicant must be able to invest a minimum of € 150,000 in stocks, bonds, debentures, special purpose vehicles or to make other suitable investments as provided from time to time by Identity Malta (the citizenship regulator) by means of a notice in the Government Gazette. Such investments shall be retained for a minimum period of 5 years;
- You must be covered by a global health insurance policy of at least EUR 50,000 per person per annum and maintain coverage for an indefinite time period;
- You must have acquired the status of resident of Malta for at least one year prior to the acquisition of citizenship.
All principal applicants may include family members as dependants on their Malta Individual Investor Programme (MIIP) application, which includes:
- Their spouses;
- Dependants of 26 years of age and under;
- Dependants over the age of 55.
There are also certain requirement to be met on the legal front for minimal eligibility for both the applicant and any of their dependants included on the application. These include:
- Individual background checks;
- Having a clean criminal record;
- Must not be under a criminal investigation;
- You must not be a threat to national security, public policy or public health;
- You must not have been involved in criminal offences listed in the Legal Notice;
- Must not have been denied a visa to a country with which Malta has visa-free travel arrangements.
The applicant of the Malta Individual Investor Programme should never attempt to submit false information, or withhold information that could affect their application. The application may be turned down if an applicant makes a false statement or omits information requested. You must also be able to supply original certificates of proof as necessary, and as required to meet the application criteria.
Maltese passport application
A Papilio advisor can answer any questions you may have relating to the MIIP scheme, please contact us today.