The Maltese Individual Investor Programme is one of the most attractive in Europe. The majority of applications take about 12 months to be processed. During the application process the applicant must obtain effective residence in Malta. AXESA is committed to hand-holding each of our clients in all aspects of their application from initial consultations, liaising with their advisors and through to the preparation of the file with the local agents.
Power of Attorney
- The applicant must have met the Reinforced Residency Status (RRS)requirements prior to obtaining Citizenship. RRS is designed to facilitate an appropriate balance between freedom of movement and the compliance of effective residence in Malta for a period of 12 months prior to the acquisition of nationality for all applicants.
- Initially the PoA is issued to the local agent to commence all residence and application preparation documents.s
- Initial background checks, including open source and risk management database searches on the Main Applicants and any other dependents who are 18 years of age and over, must be conducted. If no adverse information is found, the prospective applicant may be accepted by the CONC, AP or AA and the e-Residence application process is initiated.
- The due diligence checks can take up to 10 working days.
- The e-residence permit will not be issued unless the applicant is present in Malta, in view of the fact that biometrics need to be captured.
- It has a validity of 12 months (during which time the Malta Individual Investor Programme application is being screened)
Citizenship Application Submitted
- Once the residency card has been issued, agents are able to submit the citizenship application. Upon receiving the three (3) separate packs for the IIP unit, the Public Registry and the Passports office, a formal receipt together with the PRV is issued.
- Once the PRV is paid, MIIPA continues through the different stages of the Due Diligence (DD) process (through specialist DD services and a second police clearance, risk assessments etc.
Letter of Approval in Principal
- The 120-day period timeline, which starts with the payment of the PRV and 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 together with the CRV. If the application is rejected, the residency card is revoked within 1 month.
Global Health Insurance
- The policy should provide, as a minimum, a medical expense cover of EUR 50,000 and may be the same policy used during the residency stage. USA/Canada can be excluded.
Documented evidence that all citizenship requirements have been met must be presented at this stage, including:
- Minimum of 12-months of holding the effective residency status;
- Copy of the lease or purchase agreement for property together with a declaration from the MA that he/she will keep the property for a minimum period of 5 years from the date of issue of the letter of approval in principle together with a valuation report;
- Certificate of purchase of a minimum of EUR 150,000 in stocks, bonds, debentures and/or special purpose vehicles;
- Thes contribution of EUR 650,000 towards the National Development and Social Fund;
Furthermore, the applicants must 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.
Letter of Invitation
- Once the above-mentioned documentation has been reviewed and checked, MIIPA will issue a letter of invitation so that a suitable appointment for the applicant and his/her dependents can be arranged in order to take the Oath of Allegiance.
- Once all the required documentation has been provided, 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.
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.
Citizenship Fees and Disbursements
The fees for the preparation, submission and follow up of the Maltese Individual Investment Programme are standard but may vary slightly depending on the applicant’s particular circumstances and their family members being included EUR Fee On Request. AXESA prides itself on offering the most competitive professional services fees with added personalised service and extras.
In addition, the applicant shall pay further disbursements. These will be due when submitting the Malta Individual Investor Programme application;
- Due diligence fee for the main applicant – EUR 7,500
- Due diligence fee for applicant’s spouse – EUR 5,000
- Due diligence for dependents 3-18 – EUR 3,000.
In collaboration with local lawyers, we provide a tailored Citizenship solution for High Net Worth Individuals and affluent investors looking to reside, live and invest in Europe. If you would like to schedule a confidential consultation please get in touch at email@example.com.