The European Union has become since its creation one of the major influential and strongest markets and it now encompasses 28 countries. In terms of numbers, The EU is in prime position when it comes to global trade and thus remains an attractive region for business.

With such economic strength and potential, many individuals and companies wish to invest within its borders and to improve their competitiveness.

As a consequence, some of EU states members offer different schemes in which investors – both privately or via corporations – can become EU citizens and enjoy significant benefits which arise from both EU directives and the relevant member state’s laws and regulations.

One of the most attractive schemes within the EU is the one in Malta, as the country is considered to be an emerging market among the EU member states and has a large infrastructure for foreign business owners and expats in the country.
<h2>About the program</h2>
The Individual Investor Program (IIP) is a modern citizenship by investment program aimed at ultra-high net individuals and their families worldwide. The IIP scheme offers a citizenship for foreigners in Malta.
<h2>Why Malta?</h2>
<ul>
 	<li>Great location between Europe, Africa and the Middle East with excellent air links;</li>
 	<li>A respected EU state;</li>
 	<li>English as an official language (alongside Maltese);</li>
 	<li>EU citizenship which gives right of establishment in all 28 EU countries;</li>
 	<li>Visa free travel to more than 160 countries including the US;</li>
 	<li>Rank first among other citizenship programs with 76/100 points.</li>
 	<li>No restrictions on dual citizenship</li>
</ul>
&nbsp;
<h2>Requirements</h2>
1. The IIP firstly requires an economic investment (Contribution) on behalf of the applicant and his relatives or dependants as follows:
<ul>
 	<li>a. For main applicant a Contribution of €650,000 ;</li>
 	<li>b. For a spouse and for each child under 18 years of age an additional Contribution of €25,000; and/or,</li>
 	<li>c. For children between 18 and 26 and for parents above 55 years of age a Contribution of €50,000;</li>
</ul>
&nbsp;

2. Additionally, ALL of the following investments (Investments) and other obligations must be satisfied:
<ul>
 	<li>a. The acquisition of property in Malta valued at least €350,000 and which must be held for at least 5 years or a lease of a residential property with a rental of at least €16,000 per annum also held for 5 years (no subletting is permissible);</li>
 	<li>b. Investment of €150,000 in a prescribed investment as required by Identity Malta Agency and which must be held for five years or more;</li>
 	<li>c. Global Insurance policy with medical expense cover amounting to €50,000 for each applicant;</li>
 	<li>d. Residence of Malta for one year prior to the certificate of naturalization being issued;</li>
 	<li>e. Oath;</li>
 	<li>f. Clean background with no criminal record.</li>
</ul>
&nbsp;

3. Due diligence fees: €7,500 for main applicant, €3,000 for spouses and other dependents; €5,000 for minors (13 to 17 only).

&nbsp;
<h2>Procedure</h2>
IIP is operated by Identity Malta. Applications must be made by prescribed forms and accompanied by the appropriate fees (section 3 above) and additional documentation (i.e., birth certificate, passport copies and documents re applicant’s health).

Only once the application has been approved, the applicant will be required to comply with the Contribution and Investments obligations (see sections 1 - 2 above);

A certificate of Naturalisation will be then granted within one year from the day of the submission of the application.
<h2>Taxation</h2>
It should be noted that Maltese citizens must pay the following taxes:
<ul>
 	<li>Income tax at progressive rates up to 35%;</li>
 	<li>Tax on worldwide income;</li>
 	<li>A levy on Capital Gain Tax with some exemptions and allowances (rather than a full CGT)</li>
 	<li>VAT at 18%</li>
</ul>
&nbsp;

These types of tax and rates might be different for citizens who are domiciled outside Malta.
Malta has also double taxation treaties with more than 60 countries worldwide.
<h2>How can we help you gain your Maltese passport through the program?</h2>
Nir Porat &amp; Co., Law Firm. is a multilingual law firm with professional staff consisting lawyers and interns with knowledge and experience of all aspects of international law, in various languages and jurisdictions.

We have a significant presence in the international arena as well as a large worldwide network of partners, agent and affiliates in various industries, ranging from banks, financial institutions, law firms, international accountants, tax advisors and auditors, as well as regulatory bodies for various industries.

If you are interested to hear more details in order to apply for the Citizenship program, do not hesitate to contact us for free consultation.