Malta Individual Investor Program (MIIP) Approaching its Cap

Contributed by GVZH Advocates, 09 June, 2020


As most people are aware, when enacted back in 2014 the Malta Individual Investor program (hereinafter 'MIIP') which grants Citizenship by Investment in Malta, stated that the number  of  successful main applicants, shall not exceed one thousand and eight hundred (1,800) for the whole duration of the program. This week the Malta Individual Investor program Agency has advised that this cap is close to being reached.

MIIP Application Process

The MIIP application process is split into two stages. The first stage is the application for residence wherein the applicant obtains a Maltese e-residence card. The second stage is the full citizenship application wherein the applicant submits the main application together with all supporting documentation.

Important Application Dates

The Malta Individual Investor program Agency confirmed that complete applications for residence will continue to be accepted by the Agency up to the 31st of July 2020 and full citizenship applications until the 30th September 2020. Those individuals who obtain a residence card, but do not manage to submit a citizenship application by the 30th of September 2020, may be considered under new regulations that the Government is considering.

Travel Restrictions

It is important to note that due to the current travel restrictions it will be difficult for applicants to proceed with coming to Malta and applying for their residence card. Moreover, the individual travelling would need to be residing in one of the 19 countries from where the travel ban has been lifted, for a period of four weeks. This has in fact been very disappointing for clients who are interested in this program and most of which are non-EU nationals.

We have been informed that there are concrete plans for the second Individual Investor program, which program will be different from the first. How different, we do not know as yet.

Should you have any queries in relation to the above, kindly contact us on privateclients@gvzh.com.mt, or you can visit our website at www.gvzh.com.mt

Tags: Immigration | Investment | Global Mobility | Invest | Live and Invest Overseas | International Living | Immigration | Investment | Visas and Passports | Malta |

 

 





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