In recent amendments, Identity Malta Agency has implemented changes to the investment criterion under the Individual Investor Programme, also known as the Malta Citizenship Programme. The IIP facilitates the acquisition of Maltese citizenship for third country nationals, subject to certain conditions.
Applicants were previously required to invest €150,000 in Malta Government Bonds as part of the criteria to be awarded a Maltese passport. Identity Malta Agency, the local authority responsible for the Maltese Citizenship and Residence Programmes, has widened the investment options to also include debt and equity securities listed on the Official List of the Malta Stock Exchange. The investment criterion may also be satisfied through an investment in collective investment schemes that are authorised by the Malta Financial Services Authority. This effectively provides citizenship applicants with a wider variety of investment options, better catering for their individual risk profiles.
The investment must still be pledged for a minimum of five years from the date of issue of the Letter of Approval in Principle.
Identity Malta Agency has also updated its list of prohibited countries; at this stage it is not accepting citizenship applications from nationals from the following countries:
- North Korea
The Maltese passport is currently ranked by Passport Index as the 7th most powerful worldwide.
Disclaimer: This article is not intended to impart legal advice and readers are asked to seek verification of statements made before acting on them.