MALTA
MALTA
Malta is packed with interest, yet is laid-back and easy. There are boat trips, beautiful towns, periwinkle sea, friendly people and soul-feeding views, and you can go from swimming in glinting sea to a clifftop prehistoric site, to a harbourside restaurant, all in the space of a few hours.
GDP
TIME DIFFERENCE
CET: + 1:00
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TOTAL AREA
316 sq. km
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AGE DEMOGRAPHICS
0-14 years: 15.01%
15-24 years: 11.84%
25-54 years: 40.1%
55-64 years: 13.98%
65 years and over: 19.06%
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LANGUAGES SPOKEN
Maltese 90%, English 63% Italian 33%
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RELIGIONS WORSHIPPED
Roman Catholic 88.6%, Other 11.4%,
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GOVERNMENT TYPE
Parliamentary Republic
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CURRENCY
EURO
EXCHANGE RATE
1 USD = 1.06 EURO
POPULATION: 423,282
Population Growth: 0.90%
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GDP (per capita)
22,353
GDP (purchasing power parity)
9.642 billion USD (2013)
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VISA FREE COUNTRIES: 166
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LOCATION
South of Italy on the Mediterranean Sea
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CAPITAL
Valletta
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Malta
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Malta’s Individual Investor Programme (IIP) was introduced by the government of Malta in 2014, to offer applicants the opportunity to acquire Maltese citizenship by a certificate of naturalization in exchange for contributions to the economic development of the country. All applications shall be submitted through authorized intermediary firms or the concessionaire.
Unfortunately, given the number of successful main applicants (excluding dependents) could not exceed 1,800 for the whole duration of the programme, the limit will soon be reached and application for citizenship under this programme will only continue until 30 September 2020.
Why Malta?
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“We took up this challenge and turned it into an opportunity, by designing a programme that is intended to take Malta to the world, to expand our horizons and bring to Malta people not only willing to invest, but who believe in our potential despite the fact that we are a small island nation.” – MIIPA, Malta
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In the world of business and commerce, the smallest EU Member State is recognized as a rising star for successfully weathering the global turmoil in becoming one of Europe’s fastest growing economies. As a matter of fact, Malta’s growing reputation for being one of the best countries to do business with stems from our competitive tax regime and well-developed legal system, apart from having low operating costs, as well as a highly-skilled yet versatile workforce that speaks proficient English.​​
Benefits
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European citizenship in 1 year
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Citizenship for whole family
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Visa-free travel to over 160 destinations
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Permanent citizenship
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Special tax concessions and incentives
Eligibility
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Hold no criminal record;
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Complete a medical test;
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Possess health insurance
Minimum Investment Requirement
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To qualify, the main applicant should first show that a global health insurance policy has been retained by him and his dependents indefinitely. Additionally, applicants not only have to make a non-refundable payment to the government fund, but also purchase or take on lease residential properties and make other investments as set out below.
National Development and Social Fund (NDSF)
To begin with, the following contributions shall be required as a minimum to qualify for citizenship under the programme:
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Main applicant: €650,000
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Spouse: €25,000
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Children below 18: €25,000 each
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Unmarried dependent children between 18 and 26: €50,000 each
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Dependent parent above 55: €50,000 each
70% of the contributions would then be remitted to the NDSF, which will be used in the public interest, inter alia, for the advancement of education, research, innovation, social purposes, justice and the rule of law, employment initiatives, the environment and public health. Whereas the remaining contributions will go into a consolidated fund.
Real Estate Investments
In addition, the applicant should either purchase a residential immovable property in Malta with a minimum value of €350,000 or take on lease a residential immovable property at a minimum annual rent of €16,000. Following the purchase or lease, the property shall be retained by the applicant for a period of at least 5 years.
Capital Investments
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Further, an amount of €150,000 shall be invested to the stocks, bonds, debentures, special purpose vehicles or other investment vehicles identified by the Malta Individual Investor Programme Agency (MIIPA) for at least 5 years.
Other Fees:
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Due Diligence Fees
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Main applicant: €7,500
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Spouse: €5,000
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Children between 13-18: €3,000 each
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Unmarried dependent children between 18-26: €5,000 each
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Dependent parent above 55: €5,000 each
Passport Fees
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€500 per person
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Bank Charges
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€200 per application
The application process to acquire Maltese Citizenship takes a minimum period of 6 months and a maximum period of 24 months. Generally, 12 months are needed for the completion of proceedings. The Certificate of Naturalization will only be issued if the main applicant can provide that he has been a resident of Malta for a period of at least 12 months preceding the day of certificate issuance. Maltese citizenship granted would then be considered as permanent.