As mentioned in previous articles, Malta has become a popular choice for people from all over the world to take up residency, as the country offers several incentives for high net worth individuals. At the beginning of last year the government introduced a new investor programme that enables people to acquire the citizenship by means of investment. A few months after the programme had been introduced 100 people had already applied.
Just one year later the IIP is still popular and as of May 2015 a total of 573 people have applied. Of these applications almost 56% are from Russia and the former Soviet Union, 19% are from countries in the Middle East, 13% are from countries in Asia, 7% from Africa, 3% from North America and the rest from Europe and South America.
These applications are going through a careful screening process, and only those fulfilling all the requirements will be granted a residence permit and subsequent citizenship. However, the high number of applicants shows that the program is very popular. The number of applicants for this program is limited to 1,800 in total and once this number is reached it will not be possible any more to acquire the citizenship of Malta.
The program is aimed at high net worth individuals seeking to take up residence in another country. As part of the European Union, Malta has a lot of advantages and the country also offers attractive taxation laws for high earners. To participate in the program applicants will need to pay a contribution to the national fund, as well as rent or buy property. Depending on the number of applicants other charges will apply as well.
If you are interested in more information and the application for the Individual Investor Programme of Malta you are welcome to contact the office of Dr. Werner & Partner.
