Individual Investor Programme - Citizenship
Legal Notice 47 of 2014, Maltese Citizenship Act (Cap. 188), Individual Investor Programme of the Republic of Malta Regulations, 2014
TheA�Individual InvestorA�Programme is the first EU approved citizenship programme. A�By virtue of Legal Notice Ln47/2014 the Government of the Republic of Malta, after a rigid and thorough due diligence process, has been authorized to grant naturalisation by investment to reputable individuals and their dependants, who make a significant contribution to the social and economic development of the country.
The following are highlights from the Legal Notice 47 of 2014 of the regulations issued by the President of Malta.
The main Applicant may also include his/her spouse, children and parents or grandparents, under certain conditions, to benefit under this Programme.
Under this Individual Investor Programme, foreign individuals together with their families, who contribute to the economic development of Malta, are granted citizenship by a certificate of naturalisation.
Beneficiaries who are under the Global Residence Programme may also additionally apply under this Individual Investor Programme.
In order for a person to be a Main Applicant for citizenship under this Individual Investor Programme, certain criteria must be met, and these include the following:
- At least 18 years of age
- Makes a contribution
- Meets the application requirements
- Holds a residential address in Malta
- Commits to invest in Malta
The Applicant, his/her spouse and dependants should additionally satisfy the following requirements:
- Complete an application form
- Pay a non-refundable fee of a��10,000
- Bank charges of a��200 per application
- Provide a health certificate
- Provide a police certificate
- Pass a a�?fit and propera�� test
- Undertake to remit the total contribution if required
- Undertake to purchase or lease property in Malta
- Main Applicant to make an Affidavit of Support for each dependent who is over 18 years of age
- Provide authenticated translations into English where necessary
Forms to be signed by dependants under 18 years of age shall be required to be signed by parents or guardian/s together with documentary evidence to prove the said relationship.
The Government Agency, Identity Malta, is managing the Individual Investor Programme. A capping of 1,800 successful applicants applies under this programme. Identity Malta will receive applications from Maltese financial services practitioners to be appointed as Approved Agents. Only Approved Agents will be authorised to promote the Programme and to submit applications on behalf of clients to Identity Malta. Bastille Trustees Malta Limited is one of a handful of Authorized Agents for the Individual Investor Programme.
Within 90 days of receipt of a correctly compiled application and supporting documents, Identity Malta shall carry out verification work.Then, within 30 days of the completion of the initial verification work, Identity Malta shall carry out additional background checks. At the end of this 30 day period Identity Malta shall notify the Approved Agent in accordance with the Ministeras instructions that the application has been (a) approved in principle (b) refused or (c) delayed.
Where the application has been Approved in Principle, Identity Malta shall also issue a letter of approval in Principle to the main applicant requesting that he/she provides the following:
- Evidence of a global health insurance policy/ies covering the main applicant, spouse and dependants and;
- Written undertaking to acquire or lease a residential immovable property in Malta for a minimum value of a 350,000 or a minimum annual lease of a 16,000 [a 5 year contract to be provided within 4 months].
The Main Applicant shall also provide a written undertaking that he will make such other investment in Malta to an amount of a 150,000 as identified by Identity Malta and retain such investment for 5 years.
Within 25 days of receipt of the approval in the principle letter, the contribution less the non-refundable deposit already paid with the application, is to be settled
The contribution values are as follows:
- Main Applicant a�� a��650,000
- Spouse a�� a��25,000
- Child under 18 years a�� a��25,000
- Unmarried child 18 to 26 years a�� a��50,000
- Dependent parent or grandparent above 55 years a�� a��50,000
Additional due diligence fees:
- Main Applicant a�� a��7,500
- Spouse a�� a��5,000
- Child between 13 and 18 years a�� a��3,000
- Unmarried child 18 to 26 years a�� a��5,000
- Dependent parent or grandparent above 55 years a�� a��5,000
Moreover, even though non mandatory, a personal interview with an applicant may be requested.
The Minister shall then, within 2 years but not less than 6 months from the date of an approved application, issue a certificate of naturalisation to all successful applicants. Then, after taking an Oath of Allegiance, the applicants can apply for the Maltese passport.
70% of the contribution will be placed by the Government into The National Economic & Development Fund which will be administered by a Board of Trustees. The remaining 30% will be paid directly into public offers.
Finally, after the main applicant provides proof of submission of his/her residence in Malta for a period of at least 12 months preceding the day of the issuing of the certificate of naturalisation has been submitted, a certificate of naturalisation will be issued under these regulations.