Introduced at the beginning of 2014, the Malta Individual Investor Programme (MIIP) offers high and ultra-high net worth foreign individuals and families Malta Citizenship by making investments in designated instruments. The MIIP is the first Citizenship by Investment Program of its kind to be recognized by the European Commission. The Malta Citizenship by Investment application process is extremely efficient, and the government of Malta is committed to the highest standards of due diligence and vetting of investor applicants ensuring only persons of impeccable standing and repute are admitted.
Once a candidate is awarded Malta citizenship, which includes EU citizenship, they have the right to live, work or study in all 28 EU countries and Switzerland. They also have the ability to set up business in Malta, and can get a Malta Second Passport enabling them to enjoy visa-free travel to more than 167 countries across the world including the United States.
The following are eligible to apply for the Malta Citizenship Program :
- Main Applicant, over the age of 18 years
- Spouse / Partner of the main applicant
- Dependant child of the main applicant or spouse under the age of 18
- Dependant & unmarried child of the main applicant or spouse between the ages of 18-26
- Dependant child of the main applicant or spouse over the age of 18, who is physically or mentally challenged
- Parent and/or grandparent of the main applicant or spouse above the age of 55 years who prove that they are wholly maintained or supported by the main applicant & form part of the household of the main applicant
The following criteria have to be met by the main applicant & dependants in order to be eligible for Malta Citizenship :
- Financial Contribution : Each applicant to the MIIP has to make a non-refundable contribution to the government of Malta. This must be made within 4 months of being issued the MIIP Letter of Approval. The contribution to be made by each applicant is as follows : Main applicant – €650,000 ; Spouse – €25,000 ; Minor children – €25,000 each ; Children 18-26 (unmarried) – €50,000 each ; Dependent parents & grandparents – €50,000 each ; Adult children (physically or mentally challenged) – €50,000 each.
- Real Estate Purchase or rental : The main applicant must either purchase a residential property for at least € 350,000 or lease a property with a minimum annual rent of € 16,000. The property purchased or leased must be held for a minimum period of 5 years. The main applicant must purchase or lease a property within 4 months of receiving a “Letter of Approval”.
- Investment in Bonds/Securities : The main applicant must invest at least € 150,000 in either government bonds or bonds / securities listed on the Malta Stock Exchange. This investment must also be held for a minimum period of 5 years.
- Residence Requirement : All applicants are required to establish residency in Malta for 12 months before being eligible for grant of citizenship. Maltese Law defines residence an “an intention to reside in Malta for any fiscal year, usually evidenced by a stay of a minimum of 183 days or by the purchase/lease of property together with a visit to Malta”.
- Due Diligence : Every applicant will be subjected to a four-tier due diligence process carried out by the government of Malta.
- Health Insurance : Each applicant must be covered by a Global Health Insurance Policy of a minimum value of € 50,000
- Police Certificate : All applicants must also provide a Police Certificate
Malta has a stringent application process, normally taking about 12 months to complete. Due Diligence is an integral & critical part of the entire process, with each applicant being subjected to a four-tier due diligence process. The due diligence process ensures that only the most reputable applicants are admitted to its exclusive citizenship programme.
The Malta Citizenship Act stipulates that all applications for the Malta Citizenship Programme must be submitted only through “Approved Agents” who have been authorized to act for this purpose by the government of Malta.