Individual Investor Programme (IIP)
The Individual Investment Programme is regulated by the Maltese Citizenship Act (CAP. 188) and the Individual Investor Programme of the Republic of Malta Regulations, 2014 (L.N. 47 of 2014). In order to be eligible for this scheme, there are a number of criteria which must be satisfied:
- make a contribution of €650,000 to the Maltese Government, which is deposited in the National Development and Social Fund;
- lease property in Malta for a minimum value of €16,000 per annum, or purchase property for a minimum value of €350,000; and
- acquire €150,000 worth of Government Bonds or bonds/ securities listed on the Malta Stock Exchange.
The property and the bonds/ securities have to be held by the main applicant for a minimum period of 5 years.
The application for the IIP is a stringent one, consisting of a number of stages, focusing primarily on a four-stage due diligence process. At AE, the Residency and Immigration Department will be able to assist you in completing an IIP application, from beginning to end.
Global Residence Programme (GRP)
The Global Residence Programme was designed in order to attract third country nationals, who are not nationals of the EU, EEA or Switzerland. There are a number of qualifying criteria which one must satisfy in order to obtain residency permit under this scheme. The GRP applicant must:
- own or rent a qualifying owned property or qualifying rented property which the individual occupies as his principal place of residence worldwide. The values of the property are specific in relation to the purchasing or renting of property.
- the applicant must be in receipt of stable and regular resources that are sufficient to maintain himself/herself without recourse to the social assistance system in Malta.
- The applicant must be in possession of a valid travel document, certified proof of which is submitted together with the application.
- The applicant must be in possession of sickness insurance which covers himself/herself in respect of all risks across the whole of the EU normally covered for Maltese nationals. The health insurance cover must be procured by a company licensed in Malta or by an international reputable health insurance company (the cover must be of a minimum of Eur50,000 per year, per person)
- The applicant needs to be able to adequately communicate in Maltese or English.
- The applicant must be deemed to be a fit and proper person. Therefore, this would require the applicant to submit a police conduct certificate among other documents.
One of the major benefits of applying for the GRP Status is that the individual will be subject to a tax at a rate of fifteen cents on every euro thereof on any income that is received in Malta from foreign sources by the beneficiary. This rate of tax will apply from the year of confirmation of the special tax status up to year of cessation of status, both years included.