Resident Global would like to send you the latest update of the MIIP Individual Investor Program. It is likely that this new MIIP will begin on October 1, 2020 (the day after the current end).
1. Applicants may apply for citizenship after 12 months or36 months after obtaining a permanent resident card in Malta. However, the implementation of the Due Diligence check will be handled before this stage.
2. Minimum investment requirements:
· Contributions: 750,000 EUR (or 600,000 EUR for customers who apply for 36 months after obtaining nationality card)
· Rent an apartment in Malta must be at least EUR18,000 per year or Buy a property of at least 700,000 EUR. Applicants must commit to having a permanent residence in Malta for a minimum period of 5 years
· Contribute to VO must be at least 10,000 EUR
· Bond and similar investment requirements will be removed
3. Accredit Agents may only be individuals who are lawyers ,accountants, auditors, approved financial advisers or firms which employ such individuals.
4. The MIIP program stipulates a total limit of 1,500applicants with a number of 400 applications per year.
The processing time for applications will be changed as follows
· Day 1: Apply for residence – obtain card in a week;
· From month 2 to 3: Submit all applications for Due Diligence - This is called the minimum requirement period for applicants.
· From month 8 to month 10: This is the period when the applicant complies with the policies required to be allowed to submit a Malta citizenship card.
· From month 12 + 1 day: Once the applicant has fulfilled all their obligations under the Individual Investor Program andOath of Citizenship, they will be issued with a Certificate of Naturalization and a Malta Passport (Too This process will last for several weeks)
Above is the latest news that Resident Global has compiled. Any questions, investors please contact Resident Global for the fastest answer.