Politicians should not be responsible for running citizenship-by-investment programs if they are to thrive, according to the Maltese prime minister.
Joseph Muscat says the success of Malta’s program is down to handing decisions over to technical experts instead of elected individuals.
The country’s CIP remains the only program fully approved by the European Commission.
Investment Requirements for Malta Individual Investor Program
- Main Applicant: €650,000
- Spouse: €25,000
- Dependent child under 18: €25,000
- Unmarried offspring aged 18-26: €50,000
- Dependant parent over 55: €50,000
“Despite all the controversies that surround such programmes, Malta’s scheme remains the only one that has earned the European Commission’s seal of approval,” Muscat said at the Investment Migration Forum 2016 in Geneva.
“Malta’s citizenship by investment scheme was the first of its kind in Europe and it has left a positive impact on the economy.
“Thanks to the scheme, we are managing to attract people who are willing to invest in the country.”
Benefits of Maltese Citizenship
- Visa-free travel to more than 160 countries
- Liberalized tax system and tax planning benefits
- Right to hold Maltese passport and keep existing passport
- Strong and stable political system
- Excellent quality of life including healthcare
- Quality Maltese education for your children
As knowledge of CIPs spreads, Muscat believes the market for investor-citizenship can only grow, provided the programs are operated correctly.
Malta’s way of running its program is in contrast to the likes of Antigua & Barbuda, where the cabinet oversees a CIP unit.
Antigua Prime Minister Gaston Browne is also scheduled to speak at the gathering in Geneva.
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