[vc_row][vc_column][vc_column_text]The Malta Individual Investor Programme (MIIP) was recently launched by the Government of Malta by virtue of Legal Notice 47 of 2014, to attract foreign investment into the Maltese economy. Persons who invest in Malta will, after taking up residence on the island for one year, be entitled to be naturalised as Maltese citizens.
The Primary Applicant for Maltese citizenship must meet the following requirements:
- Be over 18 years of age;
- Contribute the amount of Euro 650,000 to the National Development Social Fund;
- Acquire a property in Malta and provide proof thereof, with a minimum value of Euro 350,000 and not dispose of such property for a period of 5 years or lease a property for at least 5 years with a minimum annual rent of Euro 16,000;
- Invest a minimum of Euro 150,000 in stocks, bonds, debentures, special purpose vehicles or to make other 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;
- Be covered by an indefinite global health insurance in respect of the Principal Applicant and his/her dependants;
- Have acquired the status of resident of Malta for at least one year prior to the acquisition of citizenship.
Principal Applicants may include the following persons as dependants on their MIIP application:
- Their spouses;
- Dependants of 26 years of age and under;
- Dependants over the age of 55.
The Legal Notice provides for minimum eligibility criteria which are to be satisfied by the applicant and any of his dependants. These criteria include:
- Persons will be subjected to a proper background verification;
- Persons must have a clean criminal record;
- Persons must not be subject to a criminal investigation;
- Persons must not be a potential threat to national security, public policy or public health;
- Persons must not have been involved in criminal offenses listed in the Legal Notice;
- Persons must not have been denied a visa to a country with which Malta has visa-free travel arrangements but this will not apply if they subsequently obtained a visa to the country that issued the denial.
The MIIP Application Requirements
1.The application shall be accompanied by originals or certified copies of the following:
- a certificate in the form prescribed by Identity Malta from a reputable health system to the satisfaction of Identity Malta that the main applicant and his dependants are not suffering from any contagious disease and that they are otherwise in good health;
- a police conduct certificate/s;
- evidence, through due diligence processes, that the main applicant and his dependants are fit and proper persons to hold Maltese citizenship;
- an undertaking to remit the total of the required contribution;
- an undertaking to purchase or take on lease immovable residential property in Malta;
- an undertaking to make such other investments;
- any other document as may be required from time to time by notice issued by Identity Malta.
- The application and other documents shall be in the English language. If however the original language of the document in not English, the document is to be accompanied by an authenticated translation
- The main applicant shall provide an affidavit of support for each dependant who is over the age of 18 (with the exception of a spouse)
- The application may be declined if an applicant makes a false statement or omits information requested.
- Applications will only be accepted and processed once all forms are properly completed, dated and signed, and are accompanied by all required documents, fees and undertakings.
[/vc_column_text][vc_tta_accordion c_icon=”chevron” active_section=”0″ collapsible_all=”true”][vc_tta_section title=”Identity Malta and Application Charges” tab_id=”identity-malta-application-charges”][vc_column_text]The following contributions and charges shall be applicable in respect of MIIP applications:
Contribution to National Development Social Fund
Principal Applicant – Euro 650,000 (of which, Euro 10,000 shall be remitted as a non-refundable deposit prior to submission of the application);
Spouse and each child between the ages of 0 to 17 – Euro 25,000;
Each unmarried dependent between the ages of 18-26: Euro 50,000;
Each dependant parent over the age of 55 – Euro 50,000
Due Diligence Fee
Principal Applicant – Euro 7,500;
Spouse – Euro 5,000;
Dependants between the ages of 13 and 18 – Euro 3,000;
Every unmarried dependent between the ages of 18 to 26 and every dependant parent over 55 – Euro 5,000
Passport Issuance Fee
Principal Applicant – Euro 500;
Spouse – Euro 500;
Dependants between the ages of 0 to 17 – Euro 500;
Dependants between the ages of 18 to 26 and over 55 – Euro 500
Euro 200 per application[/vc_column_text][/vc_tta_section][/vc_tta_accordion][vc_column_text]Should you require any further information about the MIIP or our professional fees, we would be pleased to schedule a telephone or Skype call or reply to your email enquiry to [email protected][/vc_column_text][/vc_column][/vc_row]