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Program overview – Maltese Individual Investor Program (IIP) is aimed at those high-profile individuals and their families (non-Maltese citizens), wishing to start a life in an EU members state with luxurious living standards. The IIP grants citizenship to eligible applicants, who qualify under set requirements and regulations within only a year on average. The Individual Investor Program is based on diversified financial commitment, that consists:
- non-refundable contribution to the National Development fund of 650 000 EUR
- 150 000 EUR investments in government approved bonds (minimum 5 years holding period)
- Residential real estate purchase or rent of 350 000 EUR or 16 000 EUR/year accordingly (minimum 5 years holding period)
Requirements – The main applicant should be at least 18 years old, have good standing, and have no criminal record. Program as well requires every main applicant to reside within country for at least a 1-year period (for those applicants who have been resident in Malta for one year, they already fulfill this requirement) or to build genuine links with the country.
Politically exposed persons (PEPs) are not excluded by the MIIP, and are still subject to the rigorous due diligence procedure as part of the application process to ensure the creditability and integrity of the applicant.
Family – As part of this program every applicant is entitled to include their spouse, dependent parents over 55, grandparents or unmarried children under the age of 26.
Living, Working, Studying, Travelling – Applicants and their families gaining citizenship in Malta also gain the full rights of EU citizens. They have the ability to live, work and study anywhere within the European Union, as well as travelling to 158 countries and districts without a visa including the UK, USA, and Canada.
Contribution – The Individual Investor Program requires significant, non-refundable contributions to the National development fund, established by Maltese Government of €650,000. Spouses and children are expected to contribute with an additional €25,000 and adult dependents with €50,000.
Investment – Applicants are required to invest a minimum of €150,000 in bonds or shares which are approved by the Maltese Government and this should be maintained for minimum five years. Investment must be made in stocks sanctioned by the government which is deemed beneficial to the Island (yield range 3 – 7%).
Real estate – Additionally, the principal applicant is required to purchase real estate property for a minimum amount of €350 000 or rent it for €16,000 per year. To secure citizenship acquired property shall be residential and maintained for minimum 5 years. Also, immovable property cannot be let or sublet.
* the rental option may be chosen instead of the purchase option (minimum of 5 years). Property may be sold after a 5-year period. ** the applicant is allowed to invest in government bonds, stocks or similar securities.
Taxes – Individuals are subjected to tax by the domicile and residence in Malta, not citizenship. The grant of Maltese citizenship to a non-domiciliary of Malta will not, in itself, cause the beneficiary to acquire a new domicile of choice in Malta. Residence for tax purposes is established by demonstrating an intention to reside in Malta indefinitely and definitely by a day count of 183 days. The resident, whose domicile is outside the Republic of Malta, is taxed by remittance. Advanced tax planning can avoid up to 35% Maltese tax on ALL transfers out of the funds for all payments indicated in this schedule. (i.e. this could be around €350,000 in unnecessary tax). This includes advice on bank transfers and bank account planning, as well as legal tips on international tax planning opportunities using Maltese entities, tax planning and asset protection in property ownership. A flat rate 15% tax applies for income derived inside Malta, and 12% for taxes on real estate, sold within 3-years will apply as well.
Step 1 (3 – 5 days) Pre-due diligence enables avoiding possible issues and assures eligibility. It also allows for ineligible applicants to save unnecessary costs, time, and effort.
Step 1 requires:
- Passport copies (including dependants)
- Residential address
- Full information about dependants
- Full details on profession or business
- Origin of finances
- Banking details (name, address, SWIFT/BIC code, IBAN No, account number
In cases of questionable pre-due diligence outcomes, enhanced background checks may be required, including possible cooperation with the relevant authorities.
Step 2 (1 week) Collection and preparation of documentation takes approximately 1 – 2 weeks. Prior to citizenship application, designing of customized residency profile to meet minimum residency requirement as a combination of personal, social, philanthropic and commercial activities is required. Proof of this will be provided with the full citizenship application.
Step 2 requires:
- Power of Attorney (provided)
- Engagement Letter (provided)
- Various Government Forms to sign (provided)
- Cover letter for Maltese citizenship (provided)
- Passport copies (Certified in Malta)
- Marriage Certificate (in the case of a spouse)
- Bank statement (last 3 months)
- Financial dependency proof (dependents over 18 example provided)
- Rental Agreement (provided)
- Certified Birth Certificate (dependents)
- €10,000 non-refundable on account of Contribution
- €1,000 for each residence card fee for spouse/ dependents
- €6,480 rent for the 1st year residency
- 50% agent fee
- Health Insurance (coverage of €50,000)
Step 3 (1 day) Visit Malta to apply for legal residence and obtain a resident card. Only the main applicant is required to visit Malta to start the one-year residency period (biometrics must be provided). Spouse and dependents may also apply for residency, though it is not required. In the case of applications on the same day, no agent fees are applied for spouse and/or dependents. Additional fees on residence applications are implemented if applying on separate days.
Step 4 (2 – 3 days) Obtained residence cards are valid for 18 months and allows applying conveniently for and receive Maltese citizenship after one year of residency. Residency card holders are entitled to resident rights, and to travel visa-free to the Schengen Area including Switzerland, Norway, and Iceland. There is no requirement for the applicant to visit Malta to collect residence permit. Legal representative can collect it and send by courier.
Step 5 (1 – 3 weeks) Assistance to obtain and prepare documents required for the citizenship application. Most of the forms are prepared and ready to sign. Documents, translations, certifications, legalization and apostille bear the additional costs, which will be undertaken only after seeking the client’s approval. Any submissions that are extraordinary cases and require more time will be charged at a consultancy hourly rate. All facts and information that might influence the application process MUST be revealed before the application is sent to avoid rejection.
Step 5 requires:
- Application for the naturalisation: Main applicant; spouse and adult dependents; minor dependents
- Personal Data for each applicant
- Main applicant statement of funds source and Wealth
- Curriculum Vitae (main applicant)
- Certified photograph and signature certificate for each applicant
- Each applicant’s medical report and questionnaire completed by a medical practitioner (ability to get in Malta)
- Bank statements (last 3 months)
- Each applicant’s passport, ID card, and residence card copies (if in possession)
- 2 individual photographs with one attached to the Form PSC (for each applicant)
- Birth certificates (for each applicant)
- Police records (applicants over the age of 11) from any country of residence over 6 months in a 10 year period and from all countries of citizenship
- Military records (for each applicant, if applicable)
- Record for the name changed (each applicant, if applicable)
Other Personal Documents:
- Each applicant’s proof of residential address (less than 6 months old)
- Each applicant’s marriage certificates (if applicable)
- Each applicant’s divorce certificate (if applicable)
- Each applicant’s health insurance (coverage of €50,000)
- Financial dependency proof (dependents over 18)
- 50% balance on Agent Professional Fees
- Due Diligence Fees
- Passport Fees
- €200 Government Bank Charges
Step 6 (4 months) Confirmation of the application requirements and fulfillment are issued within a week. The filing process takes approximately four months, after which Identity Malta confirms in principle, delays the request for additional documents, or denies the application.
Step 7 (20 days) In principle approval is the final confirmation by the Maltese Government. The main applicant is obliged to finalize the contribution (€ 650,000 in total within 20 days) to the Maltese National Development and Social Fund and the remaining investments. Provision of contribution evidence is also required.
Step 8 (4 months) After approval in principle is issued, the principal applicant has 4 months to provide Identity Malta with the following documentation:
- Evidence of residential property in Malta (purchase contract with a minimum value of €350,000 or a rent agreement for the minimum annual value of €16,000)
- Evidence of the investment (not less than €150,000 in Maltese Government Bonds)
- Evidence of the residency requirement fulfillment
Step 9 After all the requirements are fulfilled, each applicant aged 6 and over will be invited to visit Malta to take the oath of allegiance. Provision of the biometric data is required for the production of the passport.
Note: Maltese citizenship documents may be issued after 1 year of legal residency. Once these citizenship documents have been issued, the application for a Maltese passport will be submitted on the client’s behalf. Property and investments cannot be sold or sublet for at least 5 years. Any sale of property or disposal of investments, before the 5-year period, may lead to revocation.
GDP per Capita
GDP World Rank
€ 1, 150, 000
EU & Schengen
$ 24, 876
KEY PROGRAM BENEFITS
- Residency permit in few days
- Stay in EU without restrictions
- Family members include
- Citizenship within 1 year
- Right to live, work, do business and etc.
- Free education and health-care
GROUNDS FOR REFUSAL
- False information provided
- Criminal record
- Potential security threat
- Disrepute to the country
- Denied visa to the country