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What is Malta Individual Investor Programme (MIIP)?
The Malta Citizenship by Investment Programme or the Malta Individual Investor Programme (MIIP) as it is commonly known is the first EU Approved citizenship programme. As accredited agent by Identity Malta we can assist you through the whole process efficiently and effectively. As Malta residence specialists, our trusted Malta tax advisors already have a wealth of experience dealing in this complex area and we will assist and advise you through the whole process of the Malta Individual Investor Programme application.
Malta citizenship requirements and what do one needs to know about MIIP?
As part of the Malta Citizenship by Investment process the successful applicant must complete a number of pre-determined conditions which include a minimum age limit of at least 18 years of age, a contribution to the National Development and Social Fund (€650,000), having adequate private medical insurance, a property requirement and a further investment in local investments. A non-refundable €5,000 is payable on filing the application for a residence permit and another non-refundable €5,000 is payable on filing the application for naturalisation as a citizen of Malta.
What about the rest of the family under Malta IIP application?
The Malta Citizenship by Investment programme allows for a main applicant and also for family members to be included in the application:
• Should a dependent parent of grandparent be included on the Malta Individual Investor Programme (MIIP) application then a further contribution of €50,000 per person should be made;
• The minimum age of the dependant should be 55 years of age;
• Should a spouse be included on the application then a further contribution of €25,000 should be made;
• Should children under the age of 18 be included on the Malta Individual Investor Programme (MIIP) application then a further contribution of €25,000 per child should be made. This is for all children that are under the age of 18 or dependent children that are unmarried and between the ages of 18 and 26 years of age;
• Should a dependent parent of grandparent be included on the Malta IIP application then a further contribution of €50,000 per person should be made. The minimum age of the dependant should be 55 years of age.
Malta, officially the Republic of Malta, is a Southern European island country comprising an archipelago in the Mediterranean Sea. Located below Italy, south of Sicily, it stretches just over 316 square km, with a population of just under 450,000. The capital of Malta is Valletta, which is the smallest national capital in the European Union. Malta has two official languages: Maltese and English.
Malta has been a full member of the European Union since 1st May 2004 (the Eurozone in 2008) and has GDP recorded for 2014 of €7.912 billion. The economy depends on tourism, trade, and manufacturing but has seen its financial services industry flourish over the last five years. An educated work force, low labour costs, and crucially membership in the EU is attracting a large amount of foreign investment. Setting up a company in Malta whether for trading or as a holding company is a viable option owing to the favourable Malta tax system.
The three largest islands – Malta (Malta), Gozo (Għawdex) and Comino (Kemmuna) – are inhabited. There are other smaller islands such as: Barbaġanni Rock (Gozo) and many other which are uninhabited. All are popular with tourists and have excellent beaches.
The climate in Malta is with very mild winters and warm to hot summers (average yearly temperature is around 23 °C or 73 °F). Rain occurs mainly in winter (December-January), with summer being generally dry. Add to this the beneficial Malta residence programmes in place which offer favourable tax benefits to the individual and it is no wonder that more and more people are considering relocating to Malta.
Malta citizenship application
As an accredited agent by Identity Malta, we have vast experience in private client advisory services for the purpose of filing MIIP applications.
We can help you and your family throughout the whole process in acquiring Maltese citizenship efficiently and with tailor made solutions.
If you need to know more about Malta Citizenship by Investment Programme, please contact us.