Invest in Malta, Gain More Than Citizenship: Strategies and Tips to Obtain Malta CBI in 2024

Launched in the spring of 2014, the Maltese Individual Investor Program (MIIP) offered Malta citizenship through a 12-month investment period. The program had a cap of 1,800 approved applications, both individual and collective, which was reached by the autumn of 2020. Consequently, the program was closed, having contributed approximately EUR 1.5 billion to the state. These funds were allocated to various social programs and played a role in bolstering the economy throughout the pandemic.

Policy changes in Maltese CBI: exclusions and legal amendments

On November 20, 2020, the Maltese authorities announced a legal amendment and the introduction of the MIIP mechanism, titled Granting the Status of a Maltese Citizen by Naturalization for Exceptional Services by Direct Investment (MCNESDI). This new mechanism is distinguished by revised conditions, updated pricing, and altered document requirements.

The revised legal framework aligns with several European Commission recommendations to guarantee that the immigration pathway is fully legitimate. The Maltese government’s policy excludes applicants from the following countries from claiming Malta’s economic citizenship through investment:

• Islamic Republic of Afghanistan
• Islamic Republic of Iran
• People’s Democratic Republic of Korea (North Korea).

Applicants not holding citizenship but residing, conducting business, or having significant ties to these countries will also be denied. Likewise, citizens from countries barred from entering the United States are included in the blacklist as well.

Agenzija Komunita Malta maintains the authority to periodically update the above blacklist.

Speaking about individual cases, here are some more grounds for your CBI application to be rejected by the authorities:

• Criminal Charges: Applicants or their dependents facing charges or prosecution by the International Criminal Court, or listed by Interpol/EUROPOL.
• Security Threats: Those posing a real or potential threat to national security, public policy, or the Maltese health system.
• Serious Crimes: Individuals prosecuted or found guilty of terrorism, money laundering, financing of terrorism, crimes against humanity, war crimes, exploitation of minors, sexual assault, and other grave offenses.
• Criminal Convictions: Applicants or dependents guilty or suspected of crimes punishable by imprisonment of over 1 year, with some exceptions for unintentional offenses (consultation with InternationalWealth experts is advised).
• Reputational Risk: Involvement or potential involvement in activities that could tarnish Malta’s reputation.
• Visa Denial: Those denied a visa by a country that has a visa-free agreement with Malta, or failure to obtain such a visa.
• Application Integrity: Submission of a false application or omission of significant information when applying for Maltese citizenship by investment.
• Sanctions List: Inclusion on an international sanctions list.
• Public Health Risk: Having a serious infectious disease that could burden the Maltese public health system.

Is Malta’s citizenship by investment right for you in 2024?

As with any major decision we make in life, deciding either in favor or against obtaining citizenship by investment in Malta is not so easy. To simplify the matter for you, the InternationalWealth team has come up with a short list of the pros and cons that the Maltese CBI comes with in 2024.

Let’s take a look at its strengths first:

• European Second Passport: MCNESDI recipients gain an EU passport that allows visa-free travel to the Schengen area, USA, Canada, UK, Australia, and more.
• No Residency Requirement: While you can move to Malta permanently, it’s not required.
• Investment Returns: You are free to sell your investment real estate after a mandatory 5-year holding period.

However, we can’t but throw some light on the associated weaknesses:

• Lack of Anonymity: The government publishes the names of all individuals granted or denied Maltese citizenship, which could be problematic for those from countries that restrict dual citizenship.
• Cost: There are less expensive citizenship investment options available globally, say, Dominica’s investor passport for USD 100,000.
• Process Duration: Other countries offer faster citizenship by investment procedures, with some taking as little as one and a half months (e.g., Vanuatu or St. Kitts).

Clear steps to Maltese citizenship explained by experts

Dealing with Maltese bureaucracy, especially when it comes to the Citizenship by Investment (CBI) process, may be a tricky matter. To simplify your journey, InternationalWealth experts have succinctly mapped out the main steps you need to follow to achieve your objective. Rest assured, with clear guidance, you’ll be able to manage the process with greater ease.

1. Power of Attorney: The applicant assigns a licensed agent via power of attorney to represent them in the citizenship process.
2. Residency Application: The agent conducts an initial check (Level 1) and applies for a residence permit, which is then verified by Agenzija Komunita Malta, resulting in the issuance of the first police permit.
3. Application Submission: The agent files a preliminary application with the Agency and submits the applicant’s birth and marriage certificates to the relevant authorities.
4. Due Diligence: The Agency carries out an extensive review (Levels 2 to 4), ensuring the application’s accuracy and completeness, and may request further information before presenting it to the Authorized Minister.
5. Participation Approval: The Agency communicates the Minister’s decision on the applicant’s eligibility to the agent.
6. Citizenship Application: After 12 to 36 months from receiving the residence card, the agent submits the final application for citizenship by investment to the Agency.
7. Audit Update: The Agency updates and reviews the comprehensive audit results, providing the final assessment to the Minister.
8. Citizenship Decision: The Agency informs the agent of the Minister’s decision regarding citizenship status.
9. Investment Completion: The applicant meets the investment requirements, including housing investment and donations.
10. Oath of Allegiance: The applicant visits Malta to take an oath of allegiance, thereby obtaining citizenship and a naturalization certificate.
11. Post-Citizenship Monitoring: The Agency monitors the new citizen for 5 years to ensure compliance with the investment terms.

Your Maltese passport made easy with expert support from InternationalWealth

Start your journey to a Maltese passport with the InternationalWealth team, and don’t worry about a thing. Our experts will take care of all the paperwork and guide you at every step. They’ll make sure everything is done right and on time. With our help, getting your new passport is not just likely, it’s guaranteed!