In 2014, The Maltese Government launched the IIP programme to enable foreign individuals and families citizenship provided they contribute to the economic development of Malta.
The Maltese citizenship by investment programme is available to non EU citizens who are not currently benefitting from any other Maltese residence or taxation scheme.
Once granted the applicant would be given a Maltese passport, which in turn gives the freedom to travel within the European Union, as well as full voting rights in Malta and the EU.
The following criteria is necessary to qualify for the Malta Individual Investor Programme:
- The individual must be at least 18 years of age
- Have a permanent residential address in Malta for at least 5 years (to the value of at least €16,000 a year in rentals or at least €350,000 if purchasing)
- Invest at least €150,000 in Government issued bonds or shares
- Main applicant - €650,000 (including a €10,000 Non-Refundable Payment as a deposit prior to the submission of the application)
- Spouse - €25,000
- Children below 18 years of age: €25,000 each
- Unmarried children between 18 -26 years of age: €50,000 each
- Dependant parent over the age of 55: €50,000 each
All fees are to be paid to the Government Fund for National Economic & Social
Development and will be used for educational research, social projects and migration.
Residence will only be granted if the main applicant provides proof that he or she has been a resident of Malta for at least 12 months before the day the certificate of naturalization is issued.
Disqualifying factors - A sworn application will have to be submitted confirming that the individual does not have any criminal convictions (past and present).
Due diligence on each application will be very thorough and split into 4 stages. This process will take between a minimum of 6 months to a maximum of 2 years. Upon completion the applicant will be recommended for naturalization.
There are non-refundable fees for the due diligence which are as follows:
- Main applicant €7,500
- Spouse €5,000
- Children under the age of 18: €3,000 each
- Unmarried Children between 18 - 26: €5,000 each
- Dependant parent over 55: €5,000 each