Malta has recently introduced the Maltese Individual Investor Program (Malta IIP) which will allow applicants and their dependents to obtain a Maltese citizenship. The programme is aimed at high net worth individuals who are able to buy/rent a property, contribute to the National Development and Social Fund and invest in government securities.
Terms of the Maltese Individual Investor Program
In order to qualify for citizenship, the main applicant must:
- Buy a property in Malta with a minimum value of EUR 350,000 and be held for 5 years; or
- Lease a residential property in Malta with an annual rent of at least EUR 16,000 for a minimum of 5 years; or
- Make a contribution to the National Development and Social Fund. The contribution is set at EUR 650,000 for the main applicant and EUR 25,000 for spouses and dependants under 18; or
- Invest in stocks, bonds or special vehicles. Special vehicles must be identified by Identity Malta and must be for a minimum value of EUR 150,000 and be held for a minimum of 5 years
In addition, you will need to demonstrate that you have maintained residence in Malta for 12 months. Maltese law defines residence as “an intention to reside in Malta for any fiscal year, usually evidenced by a stay of a minimum of 183 days or by the purchase / rental of property together with a visit to Malta”. So you don’t need to be in Malta for the whole period if you don’t want to.
How does this help me?
Having a European passport will mean that you are able to travel freely within the EU and have fewer restrictions placed on you when visiting non-EU countries.
Many other EU countries have a longer waiting period for citizenship and require you to be in the country for the majority of the time, much like British citizenship.