In 2014, the Government of Malta established a programme to grant citizenship by investment. The Malta Citizenship by Investment Programme enables individuals and their family to obtain Maltese citizenship. Since Malta is an EU Member State, successful applicants will have access to all the benefits of European Union citizenship. This programme allows applicants to receive naturalisation through investment in the Maltese economy.
How Zeta can help:
The application for the IIP can only be submitted through the services of a registered accredited agent appointed by Malta Individual Investor Programme Agency. Zeta is listed as an accredited agent and can provide guidance throughout the process. The overall duration of the process depends on the timely provision of necessary documentation. Zeta will guide and assist applicants in putting together and submitting their applications in the most timely and efficient manner possible.
Benefits of Malta Individual Investor Programme
- Visa-free travel to 160 countries including the US, Canada and Australia
- Live, work, study and set up business in all 28 EU states
- Operate your business in the European Union’s fastest-growing economy
- Gain settling rights in the following European countries:
Who is eligible for the IIP Programme?
This programme is intended to facilitate Maltese citizenship to foreign High Net Worth Individuals and their families who are of reputable standing. The programme itself has a restricted number of admissions, therefore applicants need exceeded expectations. The programme is offered to third-country nationals, EU, EEA or Swiss nationals. However, nationals from Afghanistan, Chad, Iran, Libya, North Korea, Somalia, Syria, Venezuela and Yemen are not eligible for the IIP programme.
The main applicant must be at least 18 years of age;
Meet the application requirements outlined in the Regulation;
Show proof of residence in Malta for a period of 12 months preceding the day of issuance of the certificate of naturalisation;
Provide proof that the main applicant and his dependants are covered by a global health insurance policy of at least €50,000 per person per annum and are capable of maintaining such cover indefinitely.
Stage 1 – Application
Individuals will be presented with a residence card valid for 18 months prior to submitting the IIP application. This will mark the beginning of the residency period. Those who hold a valid residency card will be able to reside in Malta, as well as travel freely within the Schengen area. The applicable costs for the residence card are:
- €5,000 – Main applicant
- €1,000 – Spouse or dependant
Stage 2 – Due Diligence
During this stage Identity Malta will carry out the necessary due diligence check that takes approximately 120 days to complete. This check verifies that the information provided within the application is accurate and poses no risk to the security or reputation of Malta. The main applicant and any of their dependants are required to pay the fees for the related diligence checks:
- €7,500 – Main applicant
- €5,000 – Spouse
- €3,000 – Children over 13 years old and under 18 years old
- €5,000 – Unmarried children over 18 years old and under 26 years old
- €5,000 – Dependent parents/grandparents
Stage 3 – Investment
Applicants who have been approved by the Due Diligence process will receive a letter of approval issued by Identity Malta Agency requesting the Main Applicant to proceed with the contributions/investments.
- Government Contribution Fee towards national development and social fund of Malta.
- €650,000 – Main applicant
- €25,000 – Spouse
- €25,000 – Children under 18 years old
- €50,000 – Unmarried children over 18 years old and under 26 years old
- €50,000 – Dependent Parents/Grandparents over 55 years old
The property needs to be held for a minimum period of 5 years and cannot be used for commercial purposes. Such property has to be an immovable residential property located in Malta that falls into one of these two categories:
- Purchase of a property at a minimum value of €350,000
- Rent of a property at a minimum value of €16,000 per annum.
- Investment for five years in Malta Government Securities (MGS)
The applicant is to purchase a Malta Government Securities with an initial value of €150,000 for a minimum period of 5 years. Interest that is accumulated by the MGS may be retained by the holder of the MGS.
A €500 fee to be paid to Identity Malta for the preparation of each passport and a €200 fee imposed by Identity Malta Agency to cover bank charges.
Stage 4 – Completion
Once all contributions and investments have been made, and the 12-month residency period has been fulfilled, IMA will issue a letter to all members to visit the department to sign an Oath of Allegiance.
The certificate of naturalisation and Maltese passport are then issued within approximately 7 working days of the Oath of Allegiance.
The Malta Residence and Visa Programme is a unique opportunity that falls under the Immigration Act. It is open to third country nationals, along with their dependants (i.e. spouse, children, parents and parents-in-law).
The application for the MRVP must be submitted through the services of a registered accredited person or a registered approved agent with Identity Malta. Zeta is registered as an Accredited Agent and provides guidance throughout the process. The overall duration of the process depends on the timely provision of necessary documentation. Zeta guides and assists applicants in putting together and submitting their applications in the most timely and efficient manner possible.
Malta is an island-state right in the centre of the Mediterranean that has been an EU member since 2004, and a member of the Schengen Area since 2007. Therefore, the residency obtained through this programme granting applicants Maltese residency provides them, and their families, free movement within the 26 countries comprising the Schengen Area:
1) You & Your Family: Right to live, work & stay indefinitely in Malta.
2) Health Care: Access to the highly reputable health care system.
3) Real Estate: Access to a growing industry with solid investment opportunities.
4) Taxation: The MRVP applicants have the option of applying for a tax number in Malta, which allows them to become a tax resident. A person resident but not domiciled in Malta is only taxed on income remitted and/or arising in Malta and capital gains arising in Malta, excluding any capital gains arising outside of Malta. Income received or arising in Malta is normally taxed at a progressive rate of 0% to 35%.
5) Business environment: Incorporating a company in Malta is a very straightforward procedure. The financial services regulations in Malta are in line with EU standards and regulations, making it an ideal environment in which to conduct business.
6) Long Term Resident Status: Opportunity to apply for long term resident status after residing in Malta for 5 years consecutively and, where successful, access to free medical care & free state education.
Who is eligible for the MRVP Programme?
This programme is intended for third-country nationals therefore, Maltese, EEA and Swiss nationals are excluded and cannot apply. Furthermore, nationals from Afghanistan, Iran and North Korea are not allowed to apply for the MRVP programme.
- The main applicant must be at least 18 years of age.
- Has an annual income of not less than €100,000 arising outside of Malta, or has in his possession a capital of not less than €500,000.
- Has stable and regular resources which are sufficient to maintain him/herself and any of his/her dependants.
- Be in possession of valid travel documents.
- Be in possession of health insurance in respect of all risks covered for Maltese Nationals.
- Be in possession of a clean Police Conduct from their place of birth as well as any country in which the applicant and his/her dependant/s have resided for longer than 6 months in the past 10 years.
- Has to Provide a certificate from a reputable health system proving that the main applicant and all his / her dependants are otherwise in good health and will not be an unreasonable burden on the national health
Stage 1 – Submission of Application
A non-refundable Administration Fee of €5,500 to the Identity Malta Agency (IMA) is to be settled upon submission of the application.
Stage 2 – Due Diligence
During the due diligence stage, it will take approximately three months to process. If satisfying the IMA due diligence checks, the applicant will receive a Letter of Approval in Principle and is required to pay a non-refundable contribution fee of €24,500 to the Government of Malta.
Stage 3 – Investment
i. Qualifying Property
Hold a qualifying property for a minimum of 5 years from the date of issuance of the Residency Certificate, either through the:
- Purchase of property of either a minimum of €270,000 for properties situated in Gozo and the South of Malta, or a minimum of €320,000 for properties situated in the rest of Malta.
- Rent of property of either a minimum of €10,000 per annum for properties situated in Gozo or the South of Malta, or a minimum of €12,000 per annum for properties situated in the rest of Malta.
After the minimum period of 5 years has passed, the applicant will still need to hold residence in Malta, however the property does not need to meet the minimum requirements of the programme.
ii. Investment for five years in Malta Government Securities (MGS) (minimum €250,000)
The applicant is committed to purchase a Malta Government Securities with an initial value of €250,000 for a minimum period of 5 years from the date of issue of the residence certificate. Interest that is accumulated by the MGS may be retained by the holder of the MGS and is usually paid out on a semi-annual basis.
The investment may be terminated after the expiry of the initial five-year period.
Stage 4 – Completion and Continuous Obligations
The IMA will issue the certificate of residence after the mentioned investment has been satisfied. The main applicant can then come to Malta for the IMA to take his biometrics and issue his initial five-year residence card. During the initial 5 years, the certificate of residence will be monitored annually, followed by once every 5 years.