The Malta Individual Investor Programme, a.k.a. The Malta Citizenship by Investment Programme, has been terminated permanently.
The government of Malta launched the Malta Citizenship by Naturalisation for Exceptional Services by Direct Investment, a.k.a. Granting of Citizenship for Exceptional Services Regulations in 2020.
Parliamentary Secretary Alex Muscat unveiled the revamped Malta Citizenship by Investment programme that will come into force at the end of September 2020. The most significant change is that the programme no longer allows individuals to apply for citizenship without first becoming residents of Malta.
The new programme offers residency that will lead to citizenship, and this can be done in two ways:
- Apply for citizenship after one year residing in Malta with an investment of €750,000, or
- Apply for citizenship after three years in Malta, with an investment of €600,000.
The new programme is similar to the Malta Individual Investor Programme (IIP) regulations, but applicants must expect a higher level of due diligence checks and background verifications at the residence stage. Applicants may also need to spend more time in Malta. However, it is improbable that an aggressive residency approach will be in place due to the mobility needs of Private Clients and HNW individuals.
Currently, the one-time, non-refundable contribution requires applicants to invest the amount of €650,000. Under the new rules, the contribution will increase to €750,000.
Besides the change in contribution, the new scheme revised the property investment to a minimum value of €700,000. Furthermore, a prerequisite for the scheme includes a philanthropic contribution of €10,000, to a Maltese charity of their choice.
The new maximum number of applicants is limited to 400 per year, and the entire scheme will be capped at 1,500.
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* Please note the above is all subject to change.