The European Union is one of the most influential and strongest markets in the world, now encompassing 28 countries. The EU is therefore one of the major hubs for global trade, and as a result: an attractive region for business of all kinds. It is therefore no surprise that many individuals and companies wish to invest in Malta, improving both their own and their company’s competitiveness, as well as taking advantage of the many opportunities not only the country itself, but the EU as a whole entails.
Additionally, Malta has a large infrastructure for foreign business owners and expats, as well as an attractive scheme for those wishing to become citizens through investment.
The Individual Investor Program or IIP for short, is a modern citizenship by investment program, aimed at ultra-high net individuals as well as their families, no matter their origin. Foreigners can become citizens of Malta through the IIP program.
Some of the reasons include:
The IIP requires an economic investment on behalf of the applicant according to the following:
a. For main applicant a Contribution of €650,000 ;
b. For a spouse and for each child under 18 years of age an additional Contribution of €25,000; and/or,
c. For children between 18 and 26 and for parents above 55 years of age a Contribution of €50,000;
Additionally, ALL of the following investments (Investments) and other obligations must be satisfied:
a. The acquisition of property in Malta valued at least €350,000 and which must be held for at least 5 years or a lease of a residential property with a rental of at least €16,000 per annum also held for 5 years (no subletting is permissible);
b. Investment of €150,000 in a prescribed investment as required by Identity Malta Agency and which must be held for five years or more;
c. Global Insurance policy with medical expense cover amounting to €50,000 for each applicant;
d. Residence of Malta for one year prior to the certificate of naturalization being issued;
f. Clean background with no criminal record.
Due diligence fees: €7,500 for main applicant, €3,000 for spouses and other dependents; €5,000 for minors (13 to 17 only).
The IIP is operated by Identity Malta. Applications must be made by prescribed forms and accompanied by the appropriate fees, as well as any additional required documentation (birth certificate, passport copies and documents related to applicant’s health).
Only once the application has been approved will the applicant be required to comply with the Investments obligations mentioned above.
A certificate of Naturalisation will be granted within one year from the day of the submission of the application.
The following taxation rules applies to all Maltese citizens:
(Please note that the tax rates might be different for citizens who are domiciled outside Malta)
Porat Group is a multilingual law firm with professional staff consisting of both lawyers and interns with in-depth knowledge and experience of all aspects of international law, in various jurisdictions, including Malta.
We have a significant presence in the international arena as well as a large worldwide network of partners, agents and affiliates in various industries, ranging from banks, financial institutions, law firms, international accountants, tax advisors and auditors, as well as regulatory bodies for various industries. We are therefore well positioned for helping our clients apply for the Maltese Citizenship program.
For more information on how we can help you specifically, do not hesitate to contact us for a consultation.