- August 4, 2020
- Posted by: Editor
- Category: Law
The Maltese passport comes with a series of advantages to foreigners who join the Individual Investor Program, a successful scheme provided by the authorities in Malta. Our immigration lawyers in Malta can offer comprehensive legal assistance and support to foreigners interested in acquiring the Maltese passport by investment. They can also help with the residence permits in Malta and other important aspects related to visas and relocation to Malta.
What is the Malta Individual Investor Programme?
IIP is the Malta Individual Investor Programme meant to attract high and ultra-high net worth individuals to make investments in this country in exchange for great benefits, among which, the Maltese passport. The program was the first one that was recognized and accepted by the EU commission in 2014, mentioning that all the provisions are comprised of the Maltese Citizenship Act. Here are the eligibility criteria for gaining a Maltese passport:
- Applicants must be at least 18 years of age to participate in this program.
- Proof of a clean criminal record is needed, mentioning that the Maltese authorities can legally verify individuals, with the international structures.
- A contribution of EUR 650,000 must be made by the main applicant.
- EUR 25,000 is the contribution of each family member (spouse, minor children).
- In the case of grandparents and dependent parents, a contribution of EUR 50,000/each is imposed.
There is also the possibility of purchasing a property in Malta worth at least EUR 350,000, in order to join the Malta Individual Investor Program and gain a Maltese passport. Investing EUR 150,000 in government bonds for at least 5 years is another option for foreigners interested in Malta’s investment programmes. One of our Maltese immigration lawyers will tell you more about the eligibility criteria for MIIP and about the Maltese passport that you can acquire. Interested in a residence permit in Malta? Please talk to our advisors and find out more.
Advantages of Malta passport by investment
The Maltese passport is issued to foreigners who successfully applied for the MIIP and have been accepted as residents of this country. This kind of passport, also called “the golden passport”, comes with numerous advantages, such as:
- Traveling freely throughout the entire Schengen area, as Malta is a member of this group since 2007.
- Access to prestigious colleges in Malta and other European universities without foreign student entrance requirements – this is the case of children of foreign investors in Malta.
- Having the Maltese passport means you acquired citizenship through the MIIP.
Malta Individual Investor Program is quite successful among Asian citizens who already gained residency, citizenship, and a Maltese passport. However, this program addresses to all non-EU/EEA citizens interested in relocating to Malta and enjoy great standards of living. If you would like to know more about the Malta passport by investment program, feel free to talk to one of our immigration attorneys in Malta.
MIIP application process – short details
It is important to note that a preliminary due diligence and background verification are made by the Maltese authorities to foreigners applying to Maltese Individual Investor Program, including the family members. Information about the profession, about the bank account (some bank statements are needed), and about the source of funds meant for investments in Malta will be solicited by the Maltese authorities who perform the verifications of the candidates. We also remind you that an international health insurance policy is needed, plus a cover letter showing the reasons for applying for a Maltese passport and the marriage certificate for those applying with the entire family. All the documents should be translated into English, mentioning that information about the translator responsible for such documents might be solicited.
Why invest in Malta
Investing in Malta means taking advantage of a wide range of benefits, such as, the second passport that grants traveling throughout the Schengen area without restrictions, the Maltese residency, and then the possibility of gaining citizenship. Here are some facts and figures provided by bbc.com:
- By the end of January 2020 there were about 1,500 registered Maltese passport applications.
- Around 833 foreign investors obtained citizenship in Malta since the program was introduced.
- The Maltese passport is gained if minimum investment of EUR 650,000 is made.
- Buying Maltese shares worth at least EUR 150,000 for 5 years in a row is another option for gaining the second passport.
Foreigners interested in Malta passport by Investment or Malta citizenship can contact our team of immigration attorneys in Malta.