Residence and Citizenship Programmes
The Malta Individual Investor Programme is the first of its kind to have had its validity officially recognised by the European Commission.
Citizenship by Investment
The Malta Individual Investor Programme is designed to facilitate the grant of Maltese citizenship to foreign High Net Worth Individuals and their families who are of a reputable standing (including, the parents and grandparents of the main applicant and the spouse, as well as the children of either spouse). The principal investment required under the Programme – now well tried and tested – takes the form of a monetary contribution to the National Development and Social Fund established by the Government of Malta for the purpose of bringing about qualitative improvements in Malta through public interest, social and capital projects.
Since Malta is a member of the European Union and part of the Schengen Area, non-EU applicants who successfully acquire citizenship under the Programme benefit from significantly-improved mobility within the member states of the EU and the European Free Trade Association (EFTA).
The opportunity to be awarded the Certificate of Naturalization and be invited to take the Oath of Allegiance, is available to 1,800 Main Applicants and to their respective dependents. Each successful applicant shall have his name published in the government Gazette as per the Regulations.
WHY MALTA? Being a citizen of Malta allows one to enjoy the following benefits;
- Visa free travel to more than 160 countries in the world (incl. United States of America, Canada and the United Kingdom)
- Tax planning benefits
- Ability to benefit from more then one passport
- Personal security
- Stable political and economical environment
- High quality of life
- Excellent educational pillars
- Low Crime rates
- English is an official language of the islands
Every application, and all communications and transmissions of funds shall be presented to Identity Malta through an Accredited Agent. The Accredited Agent may be a law / audit / financial advisory / intermediary firm which has been authorized to act as an intermediary by Identity Malta.
The Individual Investor
The Main Applicant must be 18 years or older. He/she may be a single person or the head of a family. The Main Applicant undertakes the responsibility of paying the contribution as determined in the regulations and signs the relevant agreements and undertakings on behalf of his/her dependents.
The Main Applicant and any dependent may not be:
- A threat to national security, public policy or public health
- Involved in any activity likely to cause disrepute to Malta
- Denied a visa to a country with which Malta has visa-free travel arrangements
- Have appeared before or been indicted by the International Criminal Court
- Listed with the International Criminal Police Organization (INTERPOL)
- In possession of, or have pending charges relating to crimes of terrorism, money laundering, funding of terrorism, crimes against humanity, war crimes or crimes that infringe Human Rights and Fundamental Freedoms
- Found guilty of paedophilia, defilement of minors, rape, violent indecent assault, inducing persons under age to prostitution or abduction
- Found guilty or is being suspected or is being interrogated or has criminal charges brought against him/her for any criminal offence punishable with more than one year imprisonment.
Applying for an E-Residence Card is optional, but recommended. The Main Applicant must provide a residential address in Malta, whether leased or otherwise, on the application form. At this stage the address does not need to meet the requirements of the IIP as listed in Table 2 - Other Required Expenses. The E-Residence card provides the following benefits:
From the day the card is issued, the one year residency requirement of the IIP will start being fulfilled.
If Identity Malta is informed of the intention to attain the card in relation to the IIP well before the Main Applicant and dependants arrive in Malta, the Main Applicant and dependants will be able to apply and may collect the card on the day they arrive in Malta, provided that all documents are within conformity.
The €5,000 application fee for the card will be deducted from the non-refundable fee payable for the IIP.
Application, Documents and Non-Refundable Fee
Upon submission of an application, the non-refundable portion of the application fee must be submitted through the Accredited Agent together with the following documents for the Main Applicant and every dependant:
- A certificate in the format prescribed by Identity Malta from a reputable health system indicating that the Main Applicant and his/her dependants are not suffering from any contagious diseases and that they are otherwise in good health
- A police certificate of good conduct issued by the Malta police
- A police certificate of good conduct issued by the country of origin
- A police certificate of good conduct issued by the country of residence where the Main Applicant has lived more than six months in the past ten years
- Evidence, through the due diligence process, of being fit and proper persons
- A sworn declaration before a commissioner for oaths, lawyer or notary public that the information provided is true and correct
A statement in which the Main Applicant commits to:
- Remit the total of the required contribution
- Purchase immovable residential property in Malta for minimum €350,000 or lease said property for minimum €16,000 p.a.
- Make investments of minimum of €150,000 in Malta in for example; stocks, bonds, debentures, special purpose vehicles or other investments stipulated by Identity Malta
- Provide any additionally requested documents
It must be noted that all documents must either be submitted in original or as a certified true copy of the original. Furthermore, all forms and documents must be written in English or otherwise accompanied by an authenticated English translation carried out by an accredited translator. Should at any point false information or documentation be provided, the Main Applicant will be disqualified from the IIP.
Due Diligence Checks
Once the application forms and above documents have been submitted, the source of the Main Applicant’s funds will be verified and appropriate risk weighting will be carried out. In addition, four tiers of due diligence and background checks by one or more internationally recognized specialized due diligence agents will be carried out. Identity Malta will also independently carry out due diligence tests. Within 90 days from the date of application, Identity Malta shall determine whether the application has been certified as formally correct and that the required due diligence and background checks have successfully been carried out. Identity Malta has an additional 30 days within which to carry out any further due diligence checks and inform the Accredited Agent if the application has been approved, refused or delayed due to processing still being carried out.
Letter of Approval in Principle
Where an application has been approved, Identity Malta will issue a ‘Letter of Approval in Principle’. Within 5 days from approval, the Main Applicant shall be instructed to remit the remaining contribution. The Main Applicant will then have 20 days to transfer the remaining funds. A personal interview with the Main Applicant is not obligatory but may be recommended on a case by case basis. The procedures applicable in regard to the personal interview shall be determined by Identity Malta.
At this stage the Main Applicant will have 4 months time from having been issued a Letter of Approval in Principle, during which to provide the following documents:
A certified copy of a global health insurance policy held in the name of the Main Applicant and dependants, by which the insurance cover must be at least €50,000 per person, per annum. In addition, the Main Applicant must also include a declaration stating that they intend – and are in a position to retain – such a policy indefinitely.
Proof that the Main Applicant shall undertake to make an investment of a minimum of €150,000 in Malta for the purchase of qualifying stock to meet the IIP requirement, which shall amongst others include; stocks, bonds, debentures, special purpose vehicles or other investment vehicles, and that such investments shall be pledged for a period of at least five years. The Main Applicant must also submit proof of either:
The acquisition of a residential immovable property in Malta having minimum value of €350,000. This property must remain in the possession of the Main Applicant for a minimum period of 5 years, unless the Main Applicant upgrades to a more expensive property instead; or
The lease of a residential immovable property in Malta having a minimum annual lease value of €16,000 and a minimum lease period of 5 years and no authority to sub-lease during this period. Should the Main Applicant end the lease, a similar qualifying lease must be obtained within the same 5 year period from the initial lease.