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Since the release of the IIP in January 2014, several citizenship applications have now been approved, and these applicants may be able to receive their Maltese passports within a few months of when they applied, especially since most have been resident in Malta for a period of time prior to application. All they actually need to do themselves is have their biometrics taken at the start of the process, and pledge an oath of allegiance at the end. The successful applicants will be included in the list which will be published in the Government Gazette, however the fact that they received their citizenship through the IIP will remain confidential. Applicants will be expected to purchase property to the minimum value of €350,000, of which must be retained for a period of 5 years, or lease a property for which the minimum annual rental must exceed €16,000;
The Individual Investor Programme (IIP) rules provide for highly successful individuals of good standing and reputation to be naturalised and to receive Maltese citizenship on the basis of a contribution to, and an investment within Malta. The Maltese IIP allows for the granting of citizenship by a certificate of naturalisation to foreign individuals and their families who contribute to the economic improvement of Malta.
As Belair Property, we are already experiencing genuine interest in the citizenship programme. We have had clients seeking to purchase or rent property through our agency, and have been seeing consistent interest from potential clients in respect of price requests for properties which fall in line with the requirements to qualify for Maltese citizenship.
A thorough four-tier due diligence process is carried out directly by the Government which assesses the applicant, and the applications will then be processed subject to Government approval. Each applicant will be required to submit the following documentation:
(a) a certificate in the form prescribed by Identity Malta and made by a licensed medical practitioner that the main Applicant and his or her Dependents are not suffering from any contagious disease and that they are otherwise in good health;
(b) a Police Certificate or Certificates, which may however also be submitted subsequently at a later date but in any case before the Application is approved;
(c) an undertaking to remit the total of the required Contribution, less the Non-Refundable Payment already made at the time of submission of the Application, of the amount as specified in Schedule 1 hereof, when called to do so by the Concessionaire; and
(d) any other document as may be required from time to time by notice issued by Identity Malta.