The Malta Individual Investor Program was introduced at the start of 2014 and provides high net worth individuals and families from around the world with citizenship in a highly respected EU member state. Malta is an excellent choice for citizenship if you are hoping to remain an EU citizen after Brexit; it has been a member of the EU since 2004, enjoys a stable political climate, a thriving economy, and some of the best banks in the world. Successful candidates of the Individual Investor Program will be awarded citizenship in Malta by Certificate of Naturalisation, which can also include their immediate families in most cases.
Once awarded Malta citizenship, the individual can enjoy benefits such as the ability to start a business in Malta, or take visa-free travel to over 160 countries including the U.S. However, the Individual Investor Program is capped at 1,800 participants and is filling up quickly. So, act fast if you want to access EU citizenship through Malta.
Are You Eligible?
Firstly, it’s important to make sure that you fit some simple criteria to ensure that you are eligible for the program. To be considered eligible for Malta citizenship by investment, the main applicant must be over the age of eighteen years and meet all the minimum requirements listed below.
Clean Background Check:
To ensure that only deserving and reputable individuals are granted Maltese citizenship, this Investor Program is one of the most stringent in the world and with the highest level of due diligence. As part of the program, a four-tier due diligence and background checking process is carried out directly by the Maltese government to ensure that candidates are assessed comprehensively. To be considered for the program, applicants must have no criminal record, which will be checked with various sources and authorities worldwide.
Good Health:
Looking after your health is important if you want to be awarded Maltese citizenship! You will likely be rejected from the program if you are found to have any contagious or serious diseases. In addition to proving that you do not pose any health risk to other citizens on the island, you will also need to be covered by an international health insurance policy.
Financial Contribution:
In order to become a Maltese citizen, it’s important to be prepared to financially contribute to the country. All individuals and families that apply to the Individual Investor Program must make a significant contribution, which is not refundable, to the Government’s National Development and Social Fund, which finances projects in Malta related to public health, job creation, innovation, education, and social improvement. The main applicant must pay €650,000 with various additional amounts for family members. This payment will be expected within four months of receiving a Letter of Approval for the Malta IIP in principle.
Housing:
To be eligible for the program, you must also be able to prove that you are committing to taking residency in Malta for at least five years. This can be done by purchasing a property in Malta for at least €350,000, or by leasing a property with a minimum annual rent cost of €16,000. Whichever you choose for your home, it’s important to retain ownership or tenancy for at least five years. You will be expected to provide proof of your ownership, or lease agreement on a Maltese property within four months of receiving a Letter of Approval in principle.
Maltese citizenship could be your key to retaining an EU citizenship in uncertain times for the UK. The Malta Individual Investor Program may not be the easiest to apply to, but it’s certainly worth a try for anybody who wants to hold onto their EU passport.
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