Henley & Partners has been awarded a Public Services Concession by the Government with regard to the design, implementation and international promotion of the Malta Individual Investor Program (IIP). The program is planned to be operational for initial pilot cases by 1 November 2013.
The Malta IIP is aimed at ultra-high net worth individuals and families worldwide. It offers citizenship in a EU Member State that is stable, neutral and highly respected, an efficient application process, and the world’s strictest due diligence standards and vetting of applicants, thus ensuring only highly respectable clients will be admitted.
EU citizenship gives the right of establishment in all 27 EU countries.
Citizenship is granted to suitable individuals and families who qualify under the very strict due diligence regime and who make a significant contribution to the National Development Fund established by the Government. The minimum contribution levels that must be met in the initial phase of the program have been set as follows:
- Contribution to National Development Fund of EUR 650,000 for main applicant
- Contribution for spouse and minor children: EUR 25,000 each
- Contribution for dependent children 18 to 25 years or dependent parents above 55 years: EUR 50,000 each
Furthermore, Due Diligence fees apply, and these have been set at the following levels: For main applicant: EUR 7,500; for spouses, adult children and parents: EUR 5,000; for children between 13 and 18 years of age: EUR 3,000 each.
Malta is also a very attractive location for private residence. Malta offers non-Maltese persons the possibility of acquiring residence status through the Global Residence Program which is aimed at persons who buy or rent property in Malta, with minimum requirements of between EUR 220,000 to EUR 275,000 purchase price or EUR 8,750 and EUR 9,600 annual rent, depending on the location. A residence permit entitles its holder to reside permanently in Malta with the freedom to come and go any time. A permanent resident enjoys a privileged tax status while at the same time benefiting from Malta's wide network of Double Taxation Treaties. A further advantage of this status is that as long as the resident abides by the rules of the permit, the resident permit holder need not spend any particular time actually residing in Malta.