Not for no reason has Malta often been described as an open-air museum – it really does rival Italy and Greece for physical heritage, with the UNESCO-protected capital of Valletta being an excellent place for visitors and new residents alike to start. Sites like the grand palazzo of Casa Rocca Piccola and the 16th century St John’s Cathedral are recognised around the world, but what isn’t so well-known about Malta is its emerging clubbing scene and events calendar. Parties, festivals and carnivals throughout the year, held on a backdrop of incredible natural beauty, help to make Malta a highly attractive place to become a citizen through investment.
Malta’s many very genuine attractions – including its low tax rate – have already made it a highly popular citizenship by investment opportunity since the country launched its scheme in November 2013. There is presently a cap on applications of 1800, so it is also an opportunity that will not last forever; all the more reason, then, for prospective applicants to act now.
The Malta Individual Investor Programme (MIIP) was launched in April 2014, and is the only programme of its kind to be endorsed by the European Commission. Applications can only be lodged via an Approved Agent, with applicants subject to a thorough due diligence procedure.
Applicants for the Malta programme must satisfy three financial requirements:
These amount to a combined upfront financial requirement – including applicable government charges and citizenship application fees – of just less than €900,000. These costs will increase slightly depending on family size.
Main applicants under the ‘Individual Investor Programme of the Republic of Malta Regulations, 2014’ must be at least 18 years of age, in addition to meeting the other requirements of the Regulations. Also eligible under the Regulations are the spouse of the main applicant and a child, including an adopted child under 18 years of age of the main applicant or his/her spouse.
The following are eligible to apply:
Individuals who are nationals of, or are non-nationals but reside in, do business or have significant ties with the following countries, are not eligible to apply:
Democratic People’s Republic of Korea, i.e. North Korea