In 2014, the government has introduced the Individual Investor program that offers the Maltese citizenship to foreign individuals investing in Malta. The Maltese citizenship provides numerous benefits which among others include:
- Visa-free travel to more than 160 countries in the world
- Possible tax planning benefits
- Dependence on more than one passport
- Personal security
- Stable political system
- Good quality of life
- Better education for children
To qualify for citizenship, the main applicant must meet the following requirements:
- Lease a property in Malta with an annual rental value of at least EUR 16,000 for at least 5 years or purchase a property with a minimum value of EUR 350,000 to be held for at least 5 years
- Make an investment stocks, bonds or special purpose vehicles to be identified by the authority with a minimum value of EUR 150,000 to be held for a minimum period of 5 years.
- Contribute to the National Development and Social Fund
- Main applicant – EUR 650,000
- Spouse – EUR 25,000
- Each dependent child aged 0-17 – EUR 25,000
- Each dependent child aged 18-26 – EUR 50,000
- Each dependent aged 55 or above – EUR 50,000
- Be in possession of Global Health Insurance coverage for main applicant, spouse and any dependents included in the application.
The following are the costs involved:
- Due Diligence fees
- Main applicant – EUR 7,500
- Spouse – EUR 5,000
- Each dependent child aged 13-17 – EUR 3,000
- Each dependent child aged 18-26 – EUR 5,000
- Each dependent aged 55 or above – EUR 5,000
- Passport fees
- Per passport – EUR 500
- Bank charges
- Per application – EUR 200
The application for Maltese citizenship must be supported by the following supporting documentation authenticated in English:
- Police conduct
- Medical certificates showing that the main applicant, spouse and dependents are in good health
- An affidavit of support for each dependent over the age of 18 years.
All applicants over the age of 18 would be required to undertake an Oath of Allegiance in person at the relevant authority.
TAXEA is a Registered Approved Agent with extensive experience in applying for IIP, so contact us today and let us guide you through the process.