FAQS – Malta’s Individual Investor Program (IIP)

/FAQS – Malta’s Individual Investor Program (IIP)
FAQS – Malta’s Individual Investor Program (IIP) 2018-01-24T12:43:55+00:00

1) What are the requirements to be eligible for the IIP?

The Applicants shall meet all the requirements below:

  • he applicant is at least 18 years of age;
  • the applicant must provide proof of residence in Malta for a period of 12 months preceding the issuance of a certificate of citizenship;
  • the applicant meets the investment requirements;
  • The applicant must contribute to the National Development and Social Fund;
  • The applicant must have Global Health Insurance coverage for at least €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.

Below is an overview of requirements:

 

2) Who can qualify as a qualified dependent?

Dependents of the main applicant include his/her spouse, dependants who are 18 years of age and under, dependants between the age of 18 and 26 – not married and who are wholly supported by the main applicant, and dependants over the age of 55 years, e.g. parents.

 

3) How much is the investment requirement?

Under the Malta individual investor programme, the applicant is required to invest in a property and in a financial asset. The applicant must either purchase a property with a minimum value of €350,000 or lease a property for a minimum annual rent of €16,000 with 5-year retention period.

Further, the applicant must acquire an investment in stocks, bonds or other financial assets identified by Identity Malta, for a minimum value of €150,000 with 5-year retention period.

 

4) How much is the contribution requirement?

The main applicant is required to contribute €7,500 and for his/her spouse, and for each and every child below 18 years of age the contribution amount is €25,000.  For each and every unmarried child between 18 years of age and 26 years of age, and for each and every dependant parent above 55 years of age the contribution is €50,000. Contributions will go to the National Development and Social Fund in Malta.

 

5) If I am qualified, where can I apply?

IIP applications can only be filed through the services of an Accredited Agent duly appointed by Identity Malta (the body regulating the IIP). These are listed on the Identity Malta website. The Accredited Agent is a person that has been authorised to act as an intermediary firm by Identity Malta.

 

6) Where will this passport be valid and recognised?

All countries recognise the Maltese Passport. The Maltese passport is valid and recognised for Visa-free travel to more than 160 countries in the world, including the United States, and gives the right of establishment in all 28 European Union countries.

 

7) Can I hold dual citizenship if I have been Naturalised as a Maltese citizen?

Yes. Malta offers dual citizenship; however, the applicants have to check with any restrictions of the home country.

 

8) What are the procedures to obtain a Certificate of Naturalization?

  • Submit all the requirements to Identity Malta through an Accredited Agent.
  • Identity Malta shall verify the information and perform an initial assessment within 90 days.
  • Identity Malta shall further review the application and carry out background checks within 30 days. It will then notify the Accredited Agent whether the application has been approved, delayed or refused.
  • Once approved, the applicant shall remit the contributions less initial non-refundable fees within 25 days from the date of approval.

Applicants who will have resided in Malta for a minimum period of 12 months can take the oath of allegiance after 6 months.

 

9) How long will it take to obtain a Certificate of Naturalization?

The processing period may range between a minimum period of  6 months, and a maximum period of 24 months.

 

10) How long will the Maltese citizenship be valid for?

The Maltese citizenship is considered permanent, provided that the ongoing requirements are maintained. There are grounds for the deprivation of citizenship which include fraudulent acquisition of citizenship, concealment of facts and disloyalty towards the Maltese Government.

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