Local Update

The Individual Investor Programme

The Individual Investor Programme of the Republic of Malta (IIP), enacted by virtue of Legal Notice 47 of 2014, allows for the granting of citizenship by a certificate of naturalisation to individuals and their families who contribute to the economic and social development of Malta.

Subject to a stringent vetting and diligence process, including thorough background checks, the applicants and their dependents are granted citizenship in exchange for such contribution. By virtue of Legal Notice 47 of 2014, the Government of Malta has established the legal framework for the IIP, which is managed by the Identity Malta Agency. The process of application for the IIP is carried out through a Concessionaire, Accredited Persons or Approved Agents.

Who can apply for citizenship?

To qualify for citizenship, the main applicant must be at least 18 years of age, provide proof of having been a resident of Malta for a period of 12 months preceding the issuing of a certificate of naturalisation and meet the following investment requirements:

  • * The acquisition of real estate with a minimum value of EUR 350,000 to be held for at least 5 years; or

  • * Lease a residential immovable property in Malta for a period of 5 years, at an annual rent of at least EUR 16,000; and

  • Make a contribution to the National Development and Social Fund

  • An investment in stocks, bonds or special purpose vehicles to be identified by Identity Malta, for a minimum value of EUR 150,000 to be held for a minimum period of 5 years.

* Immovable property cannot be let or sublet.

Applicants must have a Global Health Insurance coverage for at least EUR 50,000 for the main applicant and each of the dependants and must give proof that they can maintain the same for an indefinite period.

Principal Applicants can include in their IIP application:

  • Spouse – in a monogamous marriage or in another relationship having the same or similar status to marriage.

  • Dependents of 18 years of age and under.

  • Dependents between the age of 18 and 26 years of age, who are not married and who are wholly supported by the main applicant and form part of the household.

  • Dependents over the age of 55 years (e.g. parents), who are wholly supported by and who form part of the household of the main applicant.

The following contributions and fees shall be required as a minimum to qualify for citizenship under the IIP:

Contributions
Principal applicant 650,000
Spouse 25,000
Each Dependent child aged 0-17 25,000
Each Dependent child aged 18-26 50,000
Each Dependent aged 55 or above 50,000
Fees
Principal applicant 7,500
Spouse 5,000
Each Dependent child aged 0-17 3,000
Each Dependent child aged 18-26 5,000
Each Dependent aged 55 or above 5,000
Per person 500
Per application 200

Who can apply to become an Accredited Person and/or Agent?

Any individual who is either personally an Authorised Registered Mandatory (ARM) or who is a Director or Employee of a Body Corporate that is itself an Authorised Registered Mandatory approved by the International Tax Unit of the Inland Revenue Department.

License holders must be resident in Malta and Professional Indemnity Cover of €1,000,000 must be held in their sole name and/or in the name of their employer and/or corporate entity. Written confirmation must be provided from the insurer that endorses/confirms that business undertaken under the IIP is specifically covered.

The applicant must be in possession of a recognised professional qualification, for example ACIB, ACCA, CII, CTLA, STEP. He must attend a mandatory briefing workshop organised by Identity Malta. The applicant must also provide evidence of access to and the use of an online due diligence database to be used to verify that their prospective applicants have no issues of concern with their personal background, for example World Check, Dow Jones, GB Group, Northdore, which evidence must be supported by a signed document.

Accredited Agents shall be those who will have satisfied all the Licensing Requirements and attended the briefing workshop. Once certified as Accredited Agents, these individuals may present full MIIP applications on behalf of potential applicants. Approved Agents are those individuals who in the 12 month period from their accreditation manage to present three successful applications.

Licensing Fees
Application Fee for Agent License 1,500
Renewal Fee payable annually 1,500
Reduced Renewal Fee for Approved Agents 1,000

Applications must be accompanied by supporting identification and verification documents authenticated in English, as set out in the Checklist and Guidelines, together with:

  • Police conduct certificates;

  • Proof that the main applicant has been a resident of Malta for a period of 12 months preceding naturalisation;

  • Medical certificates stating that the applicant and his dependents are not suffering from contagious diseases and are in good health; and

  • An affidavit of support for each dependent who is over 18 years of age.

All applicants aged 18 years and over are obliged to attend in person in Malta to undertake the Oath of Allegiance. The process takes between 6 to 24 months and currently the programme is capped at 1,800 main applicants.

About Identity Malta

Identity Malta Agency was established by virtue of Legal Notice L.N. 269 of 2013 of the PUBLIC ADMINISTRATION ACT (CAP.497). By virtue of this Legal Notice, Identity Malta shall carry out functions and duties of the public administration in the following matters:

  1. citizenship, residence permits, work permits and other administrative matters related to expatriates;

  2. passports;

  3. identity cards and other identity documents;

  4. acts of civil status;

  5. land registration and registration of public deeds;

  6. individual investment programmes for expatriates or for persons who acquire Maltese citizenship, including the administration of funds deriving from such programmes.

Identity Malta can be contacted at Mediterranean Conference Centre, Triq l-Isptar, Valletta, VLT1645, Malta. Tel: +356 2122 5232

[email protected] | www.identitymalta.com

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