Introductory note to Malta Citizenship by Investment Programme
The Malta Citizenship by Investment Programme is a citizenship by investment programme designed to attract foreign capital and business people with their families to Malta. By virtue of Legal Notice 47 of 2014, the Individual Investor Programme of the Republic of Malta (IIP) allows for European citizenship through investment to individuals who contribute to the economic and social development of Malta. Some of the benefits of economic citizenship are:
- Dual citizenship
- Permanent residency
- Visa free travel to more than 160 countries
- High quality of life
- Tax planning benefits
- Better education for your children
- Security and stability
The Republic of Malta is a Southern European island located in the middle of the Mediterranean Sea. Consisting of a number of isles, Malta is a popular destination for tourists because of the warm climate, stunning historical architecture and not forgetting the beautiful natural scenery. The capital of Malta is Valletta, which was officially recognised as a World Heritage Site by UNESCO in 1980. Malta has two official languages: Maltese and English.
In 1964 Malta gained independence under the Malta Independence Act, which was passed by the British Parliament. The country became a republic in 1974, and remains a current member state of the Commonwealth of Nations. The Republic of Malta was acknowledged to the United Nations in 1964 and to the European Union in 2004; in 2008, it became part of the Eurozone.
Malta Individual Investor Programme
The Malta Individual Investor Programme is the first European Union (EU) approved citizenship by investment programme.
The Malta IIP is aimed at ultra-high net worth individuals and their families worldwide. The Malta IIP, once certain qualifying conditions have been met, offers the individual/family Maltese citizenship in an EU Member State. Malta is politically stable, safe and secure. Since Malta is part of the EU, the Malta citizenship by naturalisation gives the right of establishment in all 27 EU countries.
Malta Citizenship by Investment Programme requirements
The Malta Citizenship by Investment Programme requirements are as follows:
- Contribution to National Development and Social Fund of EUR 650,000 for the main applicant;
- The applicant must purchase a property at minimum value of EUR 350,000 or rent it at a minimum annual of EUR 16,000. The residential property must be held for a minimum period of 5 years;
- Investment in stocks, bonds or special investments for a minimum value of EUR 150,000 and to be held for a minimum of 5 years.
Main Applicant can include dependants:
- Contribution for spouse and minor children: EUR 25,000 each;
- Contribution for dependent children 18 to 26 years or dependent parents above 55 years: EUR 50,000 each.
In addition, Due Diligence fees apply and are as follows:
- Main applicant: EUR 7,500;
- For spouses, adult children and parents: EUR 5,000;
- For children between 13 and 18 years of age: EUR 3,000 each.
Malta Citizenship application and process
The Main Applicant must first find a place to reside in, which can be a temporary rented accommodation or an outright purchase. Subsequent to acquiring an address in Malta, the Main Applicant must file, in person, an application for a residence permit in Malta. During the period of residency, the Main Applicant must complete and file the application for naturalisation as a Citizen of Malta (accompanied by applications for any dependants).
There is a thorough and comprehensive Due Diligence procedure, and only people with proper credentials will be accepted.
A successful applicant will be issued with a letter of approval in principle, which will trigger the investment and contribution obligations.
After the 12 months’ residence period has elapsed, the successful applicant will be issued with a certificate of naturalisation which grants the right to apply for a Maltese passport.
The whole process can take as little as 12 months (due to the 12 months’ residence criteria) from start to finish.
Country of citizenship and the Maltese passport
Once the Malta Citizenship by investment programme application is approved, you and your family will be deemed Maltese citizens, which can then be passed on to future generations by descent.
As an accredited agent by Identity Malta, we can assist you and your family with this process efficiently and guide you through the whole process.
Contact us to Learn More about Maltese Citizenship and the Malta Citizenship by Investment Programme.