Relocation

The Mata Residence & Visa Programme (MRVP)

Details

The new programme falls under the Immigration Act and is available to both the applicant and also their dependants subject to the below qualifications.

The qualifications and general requirements for the issuing of a certificate under these regulations are that such person:

(a)    is at least eighteen years of age;

(b)    meets the application requirements;

(c)    has a clean criminal record (as do his dependants), has passed the due diligence test and is a fit and proper person;

(d)    commits himself to provide proof of title to a qualifying property which may be either of the following:

(e)    commits himself to a qualifying investment of 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.

(f)    commits himself to pay in full a contribution of thirty thousand euro (€30,000) in accordance with these regulations.

(g)    has not had his application deemed to be against the public interest.

There will be a non-refundable administrative fee of five thousand five hundred euro (€5,500) on application, which will be deducted from the contribution. The applicant will need to provide an affidavit declaring that from the date of the application onwards he has either an annual income of not less than hundred thousand euro (€100,000) arising outside Malta or has capital of not less than five hundred thousand euro (€500,000).

The applicant has to be a third country national, not a Maltese, EEA or Swiss national.

The applicant must not be under the Residents Scheme Regulations, the High Net Worth Individuals – EU / EEA / Swiss Nationals Rules, the Malta Retirement Programme Rules, the Residence Programme Rules, the Qualifying Employment in Innovation and Creativity Rules or the Highly Qualified Persons Rules.

The beneficiary must hold both the qualifying property and the qualifying investment for a minimum five (5) year period following the appointed date.

The certificate will give the applicant and the registered dependants to reside, settle or stay indefinitely in Malta.

The Malta Individual Investment Programme (IIP)

Details

The Individual Investor Program (IIP) allows for the grant of citizenship to:

       duly qualified,

      reputable foreign individuals and families

      who make a significant contribution to the economic development of Malta.

The rights conferred by the constitution of Malta include the following:

       Right to Work

       Social Assistance says that “every citizen incapable of work … Is entitled to social assistance”

       Protection of right of citizenship;

       Prohibition of deportation and freedom of movement;

       The President of Malta must be a ‘citizen‘;

       Citizens of Malta have the right to vote

 

One time Contribution to the National

Economic and Social Development Fund

       Principal applicant – €650,000

       Spouse – €  25,000

       Each Dependent child aged 0-17 – €  25,000

       Each Dependent child aged 18-26 – €  50,000

       Each Dependent aged 55 or above – €  50,000

Once the application is approved in principle, the applicant is required to provide within 4 months:

        Contract of purchase of immovable property in Malta(min €350,000) or Contract of lease (min annual rent €16,000) and

       commit to retain a residence in Malta for a period of at least 5 years.

       Undertaking of an investment of €150,000 in Government approved financial instruments, which must be held for a minimum period of 5 years.

       No subletting of immovable property.

       Dual citizenship

       There are no restrictions on dual citizenship in Malta. The Maltese Citizenship Act specifically provides that dual citizenship is allowed.

       Applicant must have a Global Health Insurance coverage for at least EUR 50,000 for the main applicant and each of the dependants and

       must give proof that he can maintain the same for an indefinite period.

Step by Step

       Step 1  filing of form with Identity Malta (IM) payment of €10,000 plus Due diligence fees

       Step 2 (due diligence) which could be provided with Step 1

       Step 3  Within 90 days IM verifies application.

       Step 4  Within 30 days IM decides whether, in principle, application is approved.

       Step 5  Within 5 days of issuance of such letter of approval in principle, deposits contribution (less €10,000) payment within 20 days of instruction from IM.

       Step 6  Undertakings relating to property holding, investments, insurance.

       Step 7  Within 2 years but not less than 6 months from the date of application, issue naturalization certificate but becomes effective only when oath of allegiance is taken.

       Step 8  Oath of allegiance to Malta.

Key advantages

       Citizenship from a well-respected and politically stable EU country

       Possible tax planning benefits

       Visa-free travel to more than 160 countries in the world

       EU citizenship gives right of establishment in all 28 EU countries and Switzerland

       Malta is an attractive place to live in and is strategically located with excellent air links

       Good quality of life

       English is one of the official languages in Malta

       The standard of living is high, whereas the cost of living is cheaper than in the rest of Europe

       Well-equipped public and private hospitals

       First-class educational system

       Climate: At least 300 days of sunshine

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