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The Malta Individual Investor Program (IIP) in 2020 is attracting the attention of foreign businessmen from Asia, Africa, Europe and the states of the post-Soviet space.
The second citizenship for all these categories of foreign citizens provides wider opportunities for free movement around the world (the visa-free list includes more than 160 countries), as well as for doing business at the international level. The advantages of obtaining Maltese status include tax optimization associated with loyalty to the conditions of the fiscal policy of the Mediterranean country - for example, there are no payments for the transfer of inheritance, and the profit received outside the island is not subject to taxes.
General provisions of the investment program of Malta
IIP requirements for foreign investors include the following items:
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Reaching the age of 18, the absence of criminal prosecutions, sanctions bans on visiting the United States, the European Union and an impeccable reputation;
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Confirmation of the applicants' financial standing - the presence of a legal annual income of 100 euros, or a total capital of half a million euros;
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Normal state of health and possession of international medical insurance;
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A candidate for Maltese citizenship must prove a connection with the country - a 12-month residency is required;
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Fulfilling the financial requirements of the program - making a non-refundable contribution to the Malta Fund (650 thousand euros), buying or renting residential real estate (350 thousand, or 16 thousand per hour) with a mandatory five-year holding period, as well as the purchase of government securities in the amount of 15 thousand euro with the same term of ownership;
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Payment for registration of status, reliability check, services of a licensed migration agency, realtor, notary, etc.
At the same time as the main applicant, family members - spouse, children under 27 years old and parents over 55 - receive a passport. Citizenship status is inherited - future grandchildren of the main applicant also have the right to obtain Maltese citizenship. You will find out the detailed conditions for obtaining Maltese citizenship at a consultation with the staff Migration Group, the company is a licensed agent of all Maltese migration programs.
The upcoming resignation of the current cabinet: forecasts of experts
The events of 2019, related to the murder of the Maltese journalist Daphne Caruana Galicia, forced Prime Minister Joseph Muscat to announce his future resignation from the post of head of government in January 2020.
Immigration agencies of different countries, which support and implement Malta's investment program, do not expect any significant changes - during the five-year term of the project, no changes were made even once. Before the launch of the program, after lengthy negotiations with the European Commission, the Government of the Republic corrected only one provision - on mandatory 12-month residency before obtaining civil status. The agreement at the time also included a reservation by the Maltese authorities about a possible increase in quotas for applicant applications if necessary, and the European Commission, represented by Commissioner V. Reding, fully approved Malta's investor program as the only way to obtain European citizenship by investment.
That is why leading migration policy experts expect only an increase in the limit of main applicants, a possible tightening of the reliability check (against the scandal with the issuance of Cypriot passports under a similar investment program), as well as clear criteria for granting civil status. The fact is that experts attribute the increase in refusals to applications from the Maltese authorities to the individual consideration of applications, and the restrictions prescribed by law are still too general in nature - the absence of a criminal record, sanctions, etc. Today, the authorities of the Republic conduct a 4-level reliability check with the involvement of international law enforcement agencies and agencies, but anti-corruption scandals may lead to the introduction of clearer conditions for this check.
The Cypriot program has already undergone some changes, the criteria for selecting future citizens have been developed and legislated, Malta is likely to expect something similar. Therefore, the future cabinet will most likely make efforts to strengthen the reputation of the investor project, which brings considerable income to the treasury of the Republic.
However, significant changes in the Maltese program (for example, a sharp increase in the cost of participation) are not expected, so potential candidates for Maltese citizenship can safely collect documents and contact a certified agent to start issuing a passport.
