The citizenship by investment programme from Malta has attracted 173 main applicants in the first 5 months after it was introduced (up until June 2014). Over 90 of the applicants were from Russia (54%), and another 30% were from Asia, particularly China. The 173 main applicants also applied for a further 197 additional passports for their immediate dependents. The Malta passport is already much more popular than the Maltese government first anticipated.
Obtaining the citizenship of Malta bears several advantages. For example, the passport holder will be a full member of a member state of the European Union, and therefore they can enjoy all rights and benefits connected to it. The IIP of Malta is very attractive compared to other citizenship programmes offered in the EU.
The IIP is capped at 1,800 applicants. This means that once this limit is reached, no more applicants will be accepted. The programme has the potential to generate over a billion euros for Malta, as the applicants have to pay a large sum of money as a contribution to the National Fund of Malta.
The contribution to the National Fund is €650,000, and aside from this contribution, applicants also have to pay application fees for each applicant, buy or rent property and invest €150,000 in government bonds for at least 5 years. Applicants also have to reside in Malta for 12 months prior to the naturalisation. The application requirements for the IIP are very strict, and it is important to have legal counsel when applying. However, the advantages of the Malta passport are evident.
If you would like more information about the Individual Investor Programme you are welcome to contact the office of Dr. Werner & Partner for a personal consultation.
