Malta Individual Investor Programme
The Malta Individual Investor Programme (MIIP) is designed to facilitate the manner in which an individual and the members of his family can become Maltese Citizens, through a combination of investment and residence in Malta.
All applicants and their families will have to go through a strict due diligence exercise and will also have to create sufficient links and ties to Malta. Such applicants will also need to invest in Malta through the National Development and Social Fund established by the Government of Malta with the purpose of effecting qualitative improvements in Malta through public interest, social and capital projects.
As Maltese citizens, successful applicants will have access to all EU and Schengen Countries and will also benefit from visa-free travel to more than 160 countries, including the USA. This program is fully compliant with EU legislation and has been recognised by the EU Commission.
A main applicant needs to be of at least 18 years of age. The applicant can also allow his spouse, children and also his ascendants and those of his spouse to apply for citizenship as his dependents.
All minor children (under 18) of the main Applicant OR of his spouse may apply as dependants. Furthermore also any children between 18 and 26 of the main applicant or of his spouse and who are not married and are wholly maintained by the main applicant may apply for citizenship as dependants of the main applicant.
Ascendants include both the parents and the grand parents of the applicant and his spouse who are over 55 years and who are wholly maintained or supported by the main applicant and form part of the household of the main applicant.
In order to apply for citizenship the applicant has to provide proof of residency in Malta for a period of at least 12 months preceding the day of the issuing of the certificate of naturalisation. Such
The applicant shall also meet all the requirements outlined in the MIIP Regulations, such as having made the required investments, having a place of residence in Malta and having for himself and the dependents a global health insurance cover of at least EUR 50,000 per person per annum which has to be maintained for an indefinite period.
Contribution & Investment
The Main applicant shall undertake the following contribution to the National Development and Social Fund:
|Each Dependant child aged 0-17||€25,000|
|Each Dependant child aged 18-26||€50,000|
|Each Dependant aged 55 or above||€50,000|
The main applicant must also satisfy the following investment requirements:
- purchase residential immovable property in Malta having a minimum value of €350,000 which is to be held for a minimum period of 5 years; or lease/rent an immovable property in Malta for a minimum annual rent of €16,000 and this for a period of 5 years;
- invest in stocks, bonds or other investment vehicles or other investment vehicles as may be identified from time to time by Identity Malta by means of a notice in the Government Gazette for a minimum value of €150,000. This types of investment may be made in debt or equity securities listed on the Official List of the Malta Stock Exchange or through an investment in collective investment schemes that are authorised by the Malta Financial Services Authority, This investment must be pledged for a minimum of five (5) years from the date of issue of the Letter of Approval in principle
Due Diligence & Disqualifications:
All Applicants and their dependants will undergo a detailed due diligence process which will establish the eligibility of such persons as Maltese Citizenship. Identity Malta may also request personal interviews with the main applicants and his dependants.
The applicant must have a completely clean personal background and no criminal record, and this as specified in the IIP Regulations under the Laws of Malta. The Regulations also provide that a person who has been denied a visa to a country with which Malta has visa-free travel arrangement and has subsequently not obtained a visa to the country that issued the denial shall not be entitled to apply under the programme.
Additionally, a person who is deemed a potential national security risk, a reputational risk or is subject to criminal investigation will also be denied citizenship.
Due Diligence Fees
· For the main applicant – due diligence fee of €7,500.
· For the spouses, adult children and ascendants – due diligence fee of € 5,000
· For children between 13 and 18 years – due diligence fee of € 3,000.
The due diligence fees and bank charges fees are not refundable.
Passport Fees and Bank Charges:
· Passport: € 500 per person (refundable if not issued);
· Bank charges: € 200 per application
The application for a passport may only take place after the oath of allegiance has been taken by the successful applicant.
Maltese law does not impose any restrictions relating to the holding of dual citizenship. The Maltese Citizenship Act specially allows a Maltese Citizen to also hold another Citizenship and hence an applicant for the MIIP does not need to renounce his existing citizenship.
Advocates Primei, through its corporate services arm Primei Fiduciary Ltd., has been approved and licenced by Identity Malta (http://iip.gov.mt) as an Accredited Person for the purposes of the Malta Individual Investor Program (MIIP). The person representing the firm with Identity Malta is managing partner Dr. James Scerri Worley who has substantial experience with dealing with Maltese residence and personal tax issues. In terms of such accreditation issued by Identity Malta, we are authorised to submit applications on behalf of clients under the MIIP and to also promote and market such a Programme.
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