The Individual Investor Programme of the Republic of Malta ("The programme") is regulated by articles 10(9)(b) and 24 of the Maltese Citizenship Act.
The programme allows for the grant of a certificate of naturalisation as a citizen of Malta to any foreign individuals and their families who contribute to the economic development fund of Malta and meet the requirements of the programme.
This programme was introduced by virtue of Legal Notice 47 of 2014.
Who is eligible to apply?
An individual shall be eligible under the programme if he/she:
i is at least eighteen years of age;
ii proposes to make a contribution as described in the rules;
iii meets the application requirements;
iv commits to provide proof of a residential address in Malta (minimum value of €350,000 or annual rent of €16,000);
v commits to invest (at least €150,000), amongst others, in stocks, bonds, debentures, special purpose vehicles or to make other investments as provided from time to time by Identity Malta (the Maltese government agency administering the programme) in the Government Gazette;
vi is covered by an indefinite global health insurance policy (including his/her dependents); and
vii provides proof of residency in Malta as required by the programme, which will be established on a case by case basis, by demonstrating various links to Malta, including some period of presence in Malta.
Furthermore, an applicant and his/her dependants must satisfy the minimum eligibility criteria which mainly include:
i proper background verification;
ii clean criminal record;
iii not being subject to any criminal investigation;
iv not being a potential national security threat to Malta;
v not being involved in any activity likely to cause disrepute to Malta; and
vi not having been denied a visa to a country with which Malta has visa–free travel arrangements and who has not subsequently obtained a visa to the country that issued the denial.
All eligibility criteria must be satisfied in order for an applicant to be approved.
The qualifications and general requirements for applications under the programme are the following:
i Along with the application, one must provide originals or certified copies of the following:
- a certificate in the form prescribed by Identity Malta from a reputable health system that the applicant and his/her dependants are in good health,
- police certificate/s,
- evidence, through due diligence processes, that the main applicant and his/her dependents are fit and proper persons,
- an undertaking to remit the total of the required contribution,
- an undertaking to purchase or take on lease immovable residential property in Malta,
- an undertaking to make such other required investments, and
- any other documents that may be required from time to time by notice issued by Identity Malta.
ii The main applicant must provide an affidavit of support for each dependent who is over eighteen years old with the exception of the spouse.
iii Each application form must be completed personally by the applicant. If the applicant is unable to complete the form, a legal representative may be appointed.
iv Application forms and any documents submitted with it shall be completed in the English language. Should the original language of the document not be English, such document must be accompanied by an authenticated translation.
v If an applicant makes a false statement or omits requested information, the application may be declined.
vi If a person has been granted citizenship, the Minister reserves the right to deprive a person of his/her citizenship if the person fails to comply with the requirements set out in the regulations or has become a threat to national security or is involved in conduct which is seriously prejudicial to the vital interests of Malta.
vii The number of successful main applicants shall not exceed 1,800 for the whole duration of the programme.
Contribution requirements and schedule of fees
The following contributions shall be required to qualify under the programme:
a Main applicant: €650,000, of which €10,000 is non-refundable (to be paid with application)
b Spouse: €25,000
c Children below 18 years of age: €25,000 each
d Unmarried children between 18 and 26 years of age: €50,000
e Dependant parent above 55 years of age: €50,000
The following fees shall also be payable with respect to each application:
i Due Diligence
a Main applicant: €7,500
b Spouse: €5,000
c Children between 13 and 18 years of age: €3,000
d Children between 18 and 26 years of age: €5,000
e Dependant parent above 55 years of age: €5,000
ii Passport fees and bank charges fees
a Passport fee: €500 per person
b Bank charges: €200 per application
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.