Micallef & Associates approved by Identity Malta to submit Individual Investor Programme (IIP) applications

By virtue of Legal Notice 47/2014, the Government of the Republic of Malta grants, after a rigid and throrough due diligence process, naturalisation by investment to reputable individuals and their dependants who will make a significant contribution to the social and economic development of the country.

The Individual Investor Programme envisages that a Main Applicant may apply for the naturalisation process via an Accredited Agent duly appointed by Identity Malta, the agency established by the Republic of Malta responsible for examining applications.

Criteria for Qualification:

In order to qualify for the Individual Investor Programme, the Main Applicant must:

♦ Be at least 18 years of age

♦ Contribute 650,000 EUR from which 10,000 EUR will be remitted as a nonrefundable deposit before the submission of the application

♦ Purchase  a property having a value not less than 350,000 EUR or alternatively, lease of a property in Malta having an annual rental value of 16,000 EUR.

♦  Make other investments in Malta to an amount of 150,000 EUR  in stocks, bonds, debentures, special purpose vehicles or other investment vehicles as will be identified from time to time.

In the case of a Spouse or Dependants, the contribution above is increased by the following :

♦ For a Spouse, a further 25,000 EUR contribution must be made

♦ For Children below 18 years of age, a further 25,000 EUR contribution must be made for each child

♦ For Unmarried Children between 18 and 26 years of age who are maintained by the Main Applicant, 50,000 EUR for each child

♦For a Dependant Parent above 55 years of age, 50,000 EUR

The above do not include due diligence fees, passport fees and bank charges that will be levied by Identity Malta

Timeline for the Process:

An application is submitted and checked preliminarily by Identity Malta via an Accredited Agent.

♦ Commencement of 12 month residence by Applicant

♦ Non-refundable 10,000 EUR deposit is paid

♦ Application is processed and due diligence checks carried out by Identity Malta, over a maximum period of 4 months

♦ If the application is successful, a Letter of Approval is issued by Identity Malta

♦ Balance of the contribution (640,000 EUR) must be paid by Applicant

♦ Within 4 months from the Letter of Approval,  Applicant must provide proof of purchase or lease of property and  150,000 EUR investment in Malta

♦ Proof of Global health insurance is presented

♦ After 12 months residence, the Certificate of Naturalisation is issued

At the last stage, the Maltese Passport is issued.

April 9, 2014