The Maltese Individual Investor Programme is one of the most attractive in Europe. The majority of applications take 14 months to be processed.
Maltese Citizenship does not impose any tax obligation to new citizens nor does it equate to residency/domicile. Yet for clients that do intend on relocating to Malta they can take advantage of one of the most favourable tax regimes in Europe.
AXESA is committed to hand-holding each of its clients in all aspects of their application. From initial consultations, to liaising with their advisors and in the citizenship application file submission.
Initial Visit (5 to 10 Days)
The Main Applicant visits Malta for meetings with the Malta Individual Investor Programme Agency (MIIPA) and property viewings. A PoA is then issued to begin residence and Malta IIP application documents.
Biometrics need to be captured from the Main Applicant in order to submit the e-residence permit.
Initial background checks (take up to 10 working days) including open source and risk management database searches are conducted.
If no adverse information is found, the Applicant is accepted and the E-Residence Permit is granted (the Applicant only needs to be in Malta to submit biometrics).
It has a validity of 18 months (during which time the Malta Individual Investor Programme application is being screened).
Citizenship Application Review (3 to 4 months)
Once the e-residency card has been issued the citizenship application is submitted. Upon receiving the three (3) separate packs for the IIP unit, the Public Registry and the Passports office, a formal receipt together with the Payment Receipt Voucher (PRV) for EUR 10,000 on account is issued.
Letter of Approval in Principal
The 120-day period timeline from submission of the application and payment of processing fees concludes with MIIPA issuing the letter of approval in principle.
If the application is cleared up to this stage of the process, a letter of approval in principle is issued. If the application is rejected, the residency card is revoked within 1 month.
Documented evidence that all citizenship requirements have been met must be presented at this stage, including;
1. Copy of the lease or purchase agreement for property together with a declaration from the applicant that he/she will keep the property for a 5 years from the date of issue of the letter of approval in principle together with a valuation report;
2. Proof of purchase of a minimum of EUR 150,000 in stocks, bonds, debentures and/or special purpose vehicles;
3. The contribution of EUR 650,000 towards the National Development and Social Fund;
Applicants must also provide documented evidence that any personal, commercial or financial ties to the country that the applicant has opted to commit to in their residency proposal letter have been, or are currently being honoured.
Global Health Insurance
The Main Applicant must provide proof that they have medical expense cover of EUR 50,000. USA/Canada can be excluded.
MIIPA commission a 3rd police clearance. If no adverse results are returned and all the documentation is correct and complete, MIIPA issues an invitation for the Oath of Allegiance.
Letter of Invitation
MIIPA will issue a letter of invitation so that a suitable appointment for the Main Applicant and his/her dependents can be arranged in order to take the Oath of Allegiance.
Oath of Allegiance
After the Oath of allegiance has been taken, MIIPA will issue the certificate of naturalisation. Maltese Passports and IDs can now be issued.
MIIPA will continuously monitor and ensure that the applicants continue to satisfy the eligibility criteria for the IIP for 5 years from this date.
To find out more about the Malta IIP fees and disbursements please click the button below.
Do get in touch to book a Free 60 Mins Discovery call to discuss the best option suited to you/your client’s needs.