Malta has received over 400 applications for its Individual Investor Program (IIP), which will net the Maltese government over EUR 450 million in foreign direct investment should all the applications be accepted, according to Henley and Partners, the administrators of the scheme.
The first letters of approval of citizenship have been issued, with applicants set to receive their certificates of naturalization as soon as they fulfil their remaining investment and residency requirements.
Successful applicants must make investments consisting of bonds, real estate, and non-refundable deposits amongst others.
Applications from individuals of over 40 different nationalities have been received since the scheme’s launch in early 2014.
Malta’s IIP program has been provisionally capped at 1,800 successful applicants, after which the scheme is set to end, making it one of the most exclusive citizenship schemes in the world currently on offer.
Citizenship is granted to qualified, reputable foreign individuals and families who make a significant investment in designated funds and bonds, and who also clear stringent due diligence and background checks.
“Success lies in innovation. We believe that the concept of citizenship is fast evolving, and we want to be at the forefront of this innovation. That is why we came out with the ground-breaking Individual Investor Program, the only citizenship-by-investment program which is sanctioned by the European Commission. It can be explained in one word: talent. We want to enhance our competitiveness by increasing our talent pool and by increasing our global network. We believe that these are the new borders of a brave new world.” stated Dr. Joseph Muscat, the Prime Minister of Malta.
The IIP has been aimed primarily at high net worth individuals and families all across the world as a relatively affordable and highly beneficial citizenship-by-investment program. The program has been devised and marketed internationally by Henley & Partners on behalf of the Government of Malta.
“Our firm understands the finest details of the IIP because we designed and created it with the Government of Malta. We are proud to work with the majority of families applying for citizenship through the program, who choose Henley & Partners because we are best positioned to ensure applicants adhere to all government regulations and follow all steps needed for a successful application.” says Andrew J. Taylor, Vice-Chairman of Henley & Partners.