- August 4, 2020
- Posted by: Editor
- Category: Law
Malta Individual Investor Programme (IIP) was introduced in 2014 with a single purpose: to attract high net worth individuals to make investments in Malta, and benefit from the advantages of Malta citizenship. Malta is a small insular state, part of the European Union since 2004, and an appealing investment destination for numerous foreign businessmen who enjoy a good quality of life among many other facilities and compensations. Our immigration lawyers in Malta can offer in-depth assistance and legal advice for international investors interested in gaining Maltese citizenship through investments. They can help you relocate to Malta or obtain a residence permit in Malta.
The eligibility criteria for Individual Investor Programme in Malta
According to the Maltese Citizenship Act, foreigners of at least 18 years of age can apply for Malta Citizenship by Investment, as long as they respect a few conditions, such as:
- They need to have a clear criminal record – the Maltese authorities can make verifications with the International Criminal Court.
- They need to prove the source of funds for future investments in Malta.
- A medical report showing they do not suffer from contagious diseases needs to be provided.
- Applicants must be covered by international health insurance policies accepted in Malta.
- Significant non-refundable contributions to the National Development and Social Fund in Malta must be made by the applicants.
The eligibility criteria must be fully understood at the time an investor is interested in Malta citizenship by investment programme. One of our Maltese immigration lawyers can offer the necessary information and legal support for international entrepreneurs wanting Malta citizenship.
What is the needed financial contribution for Malta citizenship by investment?
The contribution to the National Development and Social Fund overseen by the Maltese Government is subject to a set of rules for foreigners interested in Maltese citizenship by investment. For instance, the main applicant needs to invest at least EUR 650,000, followed by the spouse and a contribution of EUR 25,000, plus for minor children and EUR 25,000 in contribution. In the case of dependent parents and grandparents, a contribution of at least EUR 50,0000 for each of them needs to be made. It is important to know that such financial contributions must be made within 4 months before the citizenship Malta Letter of Approval in Principle is issued for IIP. If you have any concerns regarding the eligibility criteria for Malta citizenship by investment, you are invited to talk to one of our immigration lawyers in Malta for advice and support. Our experts can help you obtain the necessary visa for Malta.
Can I purchase real estate properties in Malta for gaining citizenship?
Yes, foreign investors can purchase or rent a property in Malta, as part of the application for citizenship by investments. In this case, a property worth at least EUR 350,000 needs to be purchased, mentioning that the ownership must be maintained for at least 5 years. Property rentals are also available if a minimum annual rent of EUR 16,000 is provided. Support for obtaining a residence permit in Malta can be offered by our advisors.
Gaining the second passport
Malta offers the second passport within a year of entering the citizenship investment programme. Such a passport allows foreigners with Maltese citizenship to freely travel to more than 166 countries worldwide (including the Schengen area countries) without applying for a specific visa. This benefit is also available for citizens wanting to visit the USA or Canada, mentioning that family members also benefit from such advantages. Enjoying a good quality of life, benefiting from a constant and productive economy, great education, and medical system are a few of the advantages of foreigners with Maltese citizenship. Gaining the second passport means making investments of at least EUR 650,000 in Malta. All the details you need to know about how to apply for a second passport by entering the Malta Citizenship by Investment Programme can be provided by one of our immigration lawyers in Malta. Here are some facts and figures about immigration and citizenship in Malta:
- A contribution of at least EUR 25,000 for each family member (spouse and minor children) needs to be made to enter the citizenship programme;
- Investments of at least EUR 650,000 needs to be made for obtaining the Maltese citizenship;
- Around 17.5% of the total population of Malta are foreigners, as figures for 2019 revealed.
Investors interested in joining the Malta Citizenship by Investment programme are invited to contact our team of immigration lawyers in Malta for legal advice and support.