Malta Individual Investor Program – IIP
The Malta Individual Investor Program (IIP) was introduced by the Government of Malta by virtue of Legal Notice 47 of 2014, paving the way for a new vein of foreign direct investment into the economic and social development of the country. Successful applicants under this program are bestowed the privilege of Maltese citizenship by naturalization under discretionary grant of the Maltese government. Upon receiving approval in principle, the successful applicant must satisfy various investment conditions, chief amongst which is a monetary contribution to the Maltese Government, payable into the newly set up National Development and Social Fund.
Benefits of Malta Citizenship:
- 12 month Passport Procedure
- Schengen Residence Status issued on application
- Visa Free Travel 168 countries, including UK, US, Canada
- EU Approved MIIP approved by EU Commission
- Gives you… Right to live, study, work in any 28 EU countries and Norway, Iceland, Lichtenstein and Switzerland
- Education High quality, internationally recognised and acclaimed
- Piece of mind… Safe and stable country
- High level Health Care
Process & Timeline:
- Submission of complete application
- 4 months Review of application and enhanced Due Dilligence by Regulator
- 5 months Issue of in Principle Approval
- Contribution Settlement Within 20 days from in Principle Approval
- Evidence of Investment Requirements Within 4 months from in Principal Approval
- Passport Application Process
- Invitation to take Oath of Allegiance
- Issue of Naturalisation Certificate and Passport
- Main Applicant 18+ of age; Good Repute; Government contribution €650,000
- Property Buy property worth Minimum €350,000 or rent at €16,000 p.a
- Government Bonds worth minimum €150,000
- Effective Malta ties Create lasting ties with Malta
Malta Individual Investor Programme versus Cyprus Citizenship Investor programme
The minimum investment which can be made individually under the Cypriot Programme is €5 million, unless he opts for the collective investment scheme, whereby he can invest €2.5 million, as long as he participates in a collective investment scheme with a total value of at least 12.5 million, together with investment in property of at least €500,000. On the other hand, the total cost of the Maltese Programme totals to €1.15 million for the main applicant, together with a contribution by the spouse of €25,000 and €50,000 for every unmarried child between 18 and 26 years and dependent parents, making it the more attractive scheme between the two from a cost perspective.
Whereas the Cypriot Programme, applicants are not required to live on the island prior or during the application, or after the citizenship has been granted, the Maltese Programme necessitates evidence of a genuine link with Malta and citizenship is granted after 1 year from effective date of commencement of this genuine link with Malta.
Thus, considering mainly the rather demanding investment requirements under the Cypriot Programme, compared to the Maltese, overall, the latter seems to be the most attractive.
The difference between the Malta Investor Programme versus Cyprus Citizenship Investor programme could be found here:
|Minimum total amount||€1,150,000 (investment + Contribution)
Main Applicant Only
|Spouse + dependent children||Additional €25,000 each (children less than 18)||Covered in Main Applicant(MA) Application (Children less than 18 + 18-28 if financially dependent on MA)|
|Dependent parents (or children 18-26 for Malta)||Additional €50,000 each||Additional €500,000 investment in permanent residential property|
|Holding of investment||5 years||3 years|
|Eligible investments||Property bonds/shares||Real estate/infrastructure / businesses / companies / AIFs / Financial assets|
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