Malta Citizenship by Investment Program (MCBIP) or Malta Individual Investor Program MIIP
Possessing the membership to the European Union, Eurozone, Schengen Area, the British Commonwealth, Malta enjoys the benefits of international cooperation. With the benefit of an English teaching environment, as well as close ties with British and American colleges and universities, Malta is proud to provide excellent education to students who wish to achieve academic excellence and gain an international mindset.
Studying in Malta gives the students easy access to the elite universities. In the meantime, with her long history of the health service since 1372 and her continuing effort in health care improvement, Malta is ranked fifth by WHO’ s Measuring Overall Health System Performance among 191 Countries. Respect is given to the medical staffs, and the local hospitals provide high quality service in the finest of facilities. The sound economic environment and the perfected facilities ensure you ahigh quality life.
The Malta Citizenship by Investment Program or the Malta Individual Investor Program (MIIP) as it is commonly known is the 1st European Union (EU) approved citizenship program. Malta is a full member of the European Union and a successful applicant under the Malta Citizenship by Investment Program (MIIP) entitles freedom of movement across the EU countries.
Malta Individual Investor Program – Qualifying Investment
- Required investment in a form to be determined from time to time by IMA, having an initial value of two hundred and fifty thousand euro (€250,000), which must be held for a minimum of period of 5 years from the date of certificate.
- Title to property to be held for a minimum period of 5 years from date of certificate of residencez valued not less than €270,000 if situated in Gozo or the South of Malta and €320,000 if situated in Malta.
- Lease of residential property with a minimum annual rental value of 10,000 Euro if situated in Gozo or the South of Malta or 12,000 Euro is situated elsewhere in Malta.
If one successfully satisfies the eligibility for the Malta Citizenship by Investment Program requirements stated below, then the applicant and any family members on the application will be awarded with full citizenship for life and this can be passed onto future generations.
Malta Individual Investor Program – Application requirement
- at least eighteen years of age and provides an affidavit declaring that he has an annual income of not less €100,000 or has in his possession a capital of not less than €500,000).
- qualifying property (owned or rented) for 5 years
- qualifying investment (government bond)for 5 years
- Offer police certification
- Pass the due diligence
- Maintain a health insurance policy（ covers all risks across the EU and not less than €30,000）
- Applicant must not a citizen of EU
- Minor children,
- Single and economically dependent children from 18 to 26;
- Economically dependent parents and grandparents.
Malta Individual Investor Program – Application fees are listed below:
- Main Applicant: €7,500
- Spouse: €5,000
- Children between the age of 13 and 18: €3,000
- Children between the age of 18 and 26: €5,000
- Dependent parent or grand-parent over the age of 55: €5,000
Malta Individual Investor Program – Investment Process
- On the acquisition of an address in Malta, the applicant will then under the terms of the MCBIP file an application for a residence permit in Malta. This must be made in person.
- At any point during this period of Malta residence, the main applicant can complete and submit the Malta Citizenship by Investment Program application for naturalization as citizen of Malta. Any applications for dependants should also be filed at this stage.
- All applications alongside supporting documentation are submitted to Identity Malta, whom will issue an acknowledgement of receipt and begin the initial checks for completeness. Payments due at this stage will be an initial deposit of €10,000 towards the €650,000 contribution to the National Development and Social Fund, the due diligence fees and any passport fees.
- Identity Malta will then proceed to process the MCBI application. If accepted, Identity Malta will issue a letter of approval in principle alongside an invoice for the balance of the contribution to the National Development and Social Fund. This must be settled within 25 days from the date of the letter of approval.
- Within 4 months from the date of the letter of approval in principle, the Main Applicant as per the conditions of the MCBIP must provide evidence that the contractual undertakings to fulfill the property requirement have been carried out.
- The applicant will also have to provide evidence that the local investment requirement has been fulfilled and that a valid health insurance policy has been taken out that provides health cover for all persons on the application.
- If all the relevant requirements have been met throughout the MCBI process, the certificate of naturalization will be issued 12 months after the date on the residence permit. Maltese passport/s can then be formally issued to complete the application process.
Malta Individual Investor Program – Application Fees – Passport and bank charges
- Passport fee: €500 per person
- Bank charges: €200 per application
Contribution to the National Development and Social Fund
Alongside the MIIP Application Fees, the main applicant must make a contribution to the National Development and Social Fund and is calculated as follows:
- The main applicant of the MIIP must make a €650,000 contribution, of which a non-refundable €5,000 is payable on filing the application for a residence permit and another non-refundable €5,000 is payable on filing the application for naturalization as a citizen of Malta
- Should a spouse be included on the application then a further contribution of €25,000 should be made
- Should children under the age of 18 be included on the MIIP application then a further contribution of €25,000 per child should be made. This is for all children that are under the age of 18 or dependent children that are unmarried and between the ages of 18 and 26 years of age
- Should a dependent parent of grandparent be included on the MIIP application then a further contribution of €50,000 per person should be made. The minimum age of the dependant should be 55 years of age
Malta Individual Investor Program – Taxes
- Candidates that become residents and domiciled in Malta are required to pay income tax on their worldwide income. Personal income is taxed at progressive rates of up to 35%. However, individuals that are resident in Malta but not domiciled in Malta will only be required to pay tax on income arising in Malta and income (excluding capital gains) that arises outside Malta that is received in Malta.
- The Malta Second Citizenship by Investment process would involve the applicant and his related dependents going through a naturalization process with a certificate of naturalization being issued after a twelve month process.
- Malta has concluded double taxation treaties with around 60 countries with a number of other agreements signed but not yet in force.
- The standard VAT rate in Malta is of 18%. The corporate tax rate is 35%, however special tax concessions apply for non-resident / non-domiciled owners.
Disclaimer: The communication herein is intended to convey general information only and not to provide legal advice or opinions. It should not be construed as, and should not be relied upon for, legal or tax advice in any particular circumstance or fact situation. The facts stated may not reflect the most current legal developments. No action should be taken in reliance on the information herein. Qualified legal practitioners should be contacted for professional legal advice on specific issues.