Malta has scored top marks for due diligence and freedom of movement in the newly released CBI index 2018 report.
Malta has scored ten out of ten points for due diligence and freedom of movement.
According to the report..
As the European Commission’s first recognised citizenship by investment programme, Malta’s Individual Investor Programme (IIP) is a strong contender on the European scene. Moulded in its current form by Legal Notice 47 of 2014, the IIP must not exceed 1,800 successful main applicants.
The IIP has a single three-tier investment strategy for applicants interested in obtaining citizenship of the island.
- First, the applicant commits to making a €650,000 ($760,000) non-refundable contribution, of which €10,000 must be deposited prior to submission of the application.
- Second, the applicant either purchases real estate at a minimum value of €350,000 or rents property at a cost of at least €16,000 per annum. Whether the applicant chooses to purchase or rent, the real estate must be held for a period of five years, during which time it may not be let or sublet.
- To complete the investment portfolio, the applicant must also acquire government bonds, stocks, or special purpose vehicles for a value of €150,000, to be retained for a period of five years. As well as completing the three-part investment, an applicant must also pay the due diligence fees used to assess suitability for citizenship, and purchase global health insurance (to be prolonged indefinitely).
Under the IIP, citizenship is – at best – a one-year endeavour, as applicants must show 12 months residence on Malta. A residence card is issued to enable applicants to live on the island during this time.
Maltese citizenship does not come at the price of one’s previous nationality, as dual nationality was allowed in 2000. It brings a number of benefits including the right to live and work in the European Union, and visa-free travel to the Schengen Area and the United States.
On 22 May, 2018, Malta held its First Citizenship by Investment Due Diligence Conference. As more countries enter the citizenship market, due diligence will be a defining element of differentiation between countries,their programmes, and the applicants who become their economic citizens.
Freedom of Movement
Freedom of movement within the EU,especially in the wake of the UK’s contentious Brexit referendum, is now central to the attraction and marketability of the schemes. The Freedom of Movement Pillar measures a passport’s relative strength by the number of destinations to which it allows travel without restriction, assuming ordinary passport (not diplomatic). Maltese citizens can travel to more than 180 visa free destinations
About Individual Investor Programme
The Individual Investor Programme of Malta is designed to attract to Malta’s shores applicants who can share their talent, expertise and business connections. It is the first citizenship programme in the European Union to be recognized by the European Commission.
Malta has the world’s strictest due diligence standards with vetting of applications among CIPs. Applicants are subject to a thorough due diligence process which guarantees that only reputable applicants acquire Maltese citizenship.
Malta developed the first CBI risk matrix to mitigate all the risks associated with CBI applications which goes beyond the source of funds and wealth. The MIIPA uses a structured due diligence process with a multitude of layers in order to gain access to information about the applicants. IIP’s risk matrix consists of five levels of risk, across seven categories.
Over 1200 families have benefited from Malta IIP scheme.
Citizens of EU countries can apply for Maltese citizenship under the Individual Investor Programme.
Maltese Government excludes from applying individuals who are nationals of the Islamic Republic of Afghanistan, the Islamic Republic of Iran and the Democratic People’s Republic of Korea (North Korea), or are non-nationals but reside, do business, have significant ties with, or connections to these countries. Citizens from countries who are on the US travel ban also cannot apply.
Malta has one of the most powerful passport in the world. Maltese passport ranks 7th powerful passport in the world with visa free access to 182 countries, according to Henley passport index 2018
Government has published list of authorized agents for Malta IIP: http://iip.gov.mt/agents-2/
About CBI Index
The CBI Index is a publication of Financial Times.
CBI Index was created by James McKay, a research consultant with more than a decade’s experience in the design and execution of complex research and data analysis projects
The seven pillars that constitute the CBI Index include:
- Freedom of Movement
- Standard of Living
- Minimum Investment Outlay
- Mandatory Travel or Residence
- Citizenship Timeline
- Ease of Processing
- Due Diligence
