Malta Individual Investment Programme (IIP)
Also known as the Malta Citizenship by Investment Programme, the Malta Individual Investor Programme, or IIP, offers an excellent opportunity for investors to contribute to the booming local economy while also receiving the many benefits afforded by Maltese citizenship.
By granting citizenship via naturalisation to qualified and reputable individuals and their dependents who contribute towards the economic development of the islands, the IIP offers them a lasting bond with a stable, neutral and respected EU member state, with no tax consequences and a limited and advantageous tax exposure. Since the individual would also automatically become an EU citizen, then they will also enjoy all the associated benefits such as visa-free travel to more than 160 countries and the ability to work or set up a company in Malta.
To guarantee that only the most highly respectable individuals are offered Maltese citizenship via the IIP, applicants are required to comply with a list of strict eligibility criteria and an efficient application process.
IIP Eligibility Criteria
Since the concept behind the IIP is to grant Maltese citizenship in recognition of investment in the island, applicants – and their families – must make a significant financial contribution to be eligible.
This consists of a contribution to the National Development and Social Fund of €650,000 for the main applicant and a further €25,000 per minor or spouse. For dependent children aged 18 to 26, or dependent parents aged 55 or over, then a €50,000 contribution is applicable.
The applicant must also retain a property in Malta valued at €350,000 or more for at least five years, or rent a property for which the minimum annual rent must be more than €16,000, while making an additional investment of €150,000 in Government-approved financial instruments which must be maintained for at least five years.
Applicants must also reside in Malta for at least 12 months, although citizenship is granted a year from the date of property purchase or rental. They must also pass a ‘fit and proper’ test, and hold a global health insurance policy covering both the applicant and their dependents of at least €50,000 per person per annum, which they are able to maintain indefinitely.
Beyond the financial contributions required by the eligibility criteria, there are also a number of other expenses to bear in mind when applying for the IIP, including passport fees and due diligence fees that are payable per person included in the application, as well as bank charges and professional agent fees. These are normally paid when all the necessary documentation and application forms are submitted.