of the Republic of Malta Regulations, 2014

L.N. 47 of 2014

MALTESE CITIZENSHIP ACT

(CAP. 188)

Individual Investor Programme

of the Republic of Malta Regulations, 2014

IN exercise of the powers conferred by articles 10(9)(b) and 24

of the Maltese Citizenship Act, the President of Malta has made the

following regulations:-

The title of these regulations is the Individual Investor Citation.

Programme of the Republic of Malta Regulations, 2014.

Ħtiāiet tal-Kontribuzzjonijiet u Skeda tad-Drittijiet

Ħtiāiet tal-Kontribuzzjonijiet

1. Il-kontribuzzjonijiet li āejjin għandhom jinħtieāu bħala l-minimu sabiex

persuna tikkwalifika għaë-ëittadinanza taħt il-programm

(a) applikant ewlieni: 650,000 euro (sitt mija u ħamsin elf euro), li

minnhom ħlas ta’ 10,000 euro (għaxart elef euro) li ma jingħatax lura għandu

jingħata bħala depoŜitu li ma jingħatax lura qabel is-sottomissjoni tal-

applikazzjoni;

(b)

konjuāi: 25,000 euro (ħamsa u għoxrin elf euro);

(ë)

għal kull wild taħt it-18-il sena: 25,000 euro (ħamsa u għoxrin elf

euro);

(d) għal kull wild mhux miŜŜewweā bejn it-18 u l-26 sena: 50,000

euro (ħamsin elf euro);

għal kull āenitur dipendenti li għandu aktar minn 55 sena: 50,000

(e)

euro (ħamsin elf euro).

2. Skeda tad-Drittijiet

Id-drittijiet li āejjin għandhom jitħallsu ma’ kull applikazzjoni

(1) Drittijiet ta’ due diligence

applikant ewlieni: 7,500 euro (sebat elef u ħames mitt

(a)

euro);

(b)

konjuāi: 5,000 euro (ħamest elef euro);

(ë) għal kull wild ta’ bejn it-13-il sena u t-18-il sena: 3,000

euro (tliet elef euro);

(d) għal kull wild dipendenti mhux miŜŜewweā li għandu bejn

it-18 u l-26 sena matul is-sena li ssir l-applikazzjoni: 5,000 euro (ħamest

elef euro);

(e) għal kull āenitur dipendenti li għandu aktar minn 55 sena

5,000 euro (ħamest elef euro).

(2) Drittijiet tal-Passaporti u spejjeŜ tal-bank

(a)

Passaport: 500 euro (ħames mitt euro) kull persuna;

(b)

SpejjeŜ tal-Bank: 200 euro (mitejn euro) għal kull applikazzjoni

(3) Il-ħtiāiet tal-kontribuzzjoni u d-drittijiet stipulati f’din l-Iskeda

għandhom japplikaw fir-rigward ta’ applikazzjonijiet u għotjiet ta’ ëittadinanza

taħt il-programm minkejja d-dispoŜizzjonijiet ta’ xi regolamenti oħra.

In these regulations, unless the context otherwise Interpretation.

requires -

"Act" means the Maltese Citizenship Act;

"applicant" means the person who applies or on whose behalf it

is being applied for his naturalisation as a citizen of Malta under the

individual investor programme either as a main applicant or as a

dependant;

"application"

means

an

application

made

under

these

regulations;

"application requirements" means the formal and substantial

requirements which each applicant must meet, as set forth in these

regulations;

"authenticated translation" means a translation done by either a

professional translator who is officially accredited to a court of law, a

government agency, an international organization, or similar official

institution, or if done in a country where there are no official

accredited translators a translation, done by a company whose role or

business is professional translation;

"certified copy" means a photocopy of an original document

certified by a duly licensed lawyer, or notary public, a Maltese

consular or diplomatic officer or a senior officer of the concessionaire

to be a true copy of the original;

"concessionaire" means the entity awarded with the public

service concession contract to design, implement, administer, operate

and promote the programme, or any subsidiary of that entity, duly

authorized by the public service concession contract;

"contribution" means a contribution paid under these

regulations seventy per cent of which shall be paid to the National

Development and Social Fund, in accordance with these regulations;

"dependant" means

(a)

the spouse of the main applicant in a monogamous

marriage or in another relationship having the same or a similar

status to marriage, unless the Minister authorises otherwise on a

case by case basis;

(b) a child, including an adopted child, of the main

applicant or of his spouse who is less than eighteen years of age;

(c)

a child of the main applicant or of his spouse who is

between the age of eighteen and twenty-six years and who is not

married and who proves, to the satisfaction of the Minister, that

he is wholly maintained by the main applicant;

(d) a parent or grandparent of the main applicant or of

his spouse above the age of fifty-five years who prove to the

satisfaction of the Minister that they are wholly maintained or

supported by the main applicant and form part of the household

of the main applicant; or

(e)

a child of the main applicant or of the spouse of the

main applicant who is at least eighteen years of age, is

physically or mentally challenged, and who is living with and is

fully supported by the main applicant

Provided that such person has the capacity to take an oath

of allegiance;

"Identity Malta" means the agency established by the Identity

Malta Agency (Establishment) Order;

"Approved Agent" means an audit firm, a law firm, a financial

advisory firm, an intermediary firm or any other person or body

which in all cases has been authorised to act as an authorised

intermediary firm by Identity Malta for the purposes of these

regulations;

"main applicant" means the person who, either as a single

applicant or as the head of a family, undertakes to make a contribution

for the purposes of these regulations and signs the relevant

agreements and undertakings on behalf of his dependants;

"Minister" has the same meaning as assigned to it in the Act;

"National Development and Social Fund" means the fund

established by the Government of Malta to receive the contributions;

"non-refundable payment" means the portion of the contribution

paid up front at the time of submission of the application;

"police certificate" means a certificate of conduct, report or

statement from a national law enforcement authority or other public

authority in charge of criminal records on the status of an applicant’s

criminal record;

"programme" means the Individual Investor Programme of the

Republic of Malta;

"public service concession" means the public service concession

awarded to the concessionaire to design, implement, administer,

operate and promote the programme.

(1) There is hereby established a programme, to be Establishment

known as the "Individual Investor Programme of the Republic of of

Investor

Malta", which shall allow for the grant of citizenship by a certificate Programme.

of naturalization to foreign individuals and their families who

contribute to the economic development of Malta, as provided in

these regulations.

(2) The operation of the programme shall be carried out by the

concessionaire.

(3) Approved Agents shall be licensed by Identity Malta after

carrying out a due diligence process in their regard. They shall be

entitled to introduce prospective applicants to Identity Malta.

(4) Approved Agents shall pay an annual licence fee and shall

abide by the conditions of their licence.

(5) Identity Malta shall be entitled to withdraw a licence

issued to an Approved Agent if, after due investigation, it is satisfied

that

(a) the Approved Agent has acted in an unethical or an

unprofessional manner and has substantially prejudiced the

programme; or

(b) the Approved Agent has committed a serious breach

of guidelines, codes of conduct or codes of ethics issued by

Identity Malta from time to time and made specifically

applicable to Approved Agents.

(1) The qualifications and general requirements for a

person to be a main applicant for citizenship under the programme

shall be that any such person

(a)

is at least eighteen years of age;

(b) proposes to make a contribution as determined in the

Schedule;

(c)

meets the application requirements;

(d) commits himself to provide proof of residence in

Malta, and to provide proof of title to residential property in

Malta in accordance with these regulations;

(e)

commits himself to invest, amongst others, in

stocks, bonds, debentures, special purpose vehicles or to make

other investments as provided from time to time by Identity

Malta by means of a notice in the Gazette

Provided that beneficiaries of the Global Residence

Programme provided for under the Income Tax Act shall be allowed

to apply for the Individual Investor Programme subject to satisfying

all the additional eligibility requirements of the Programme.

(2) Applications shall be made on the forms prescribed under

the Citizenship Regulations and shall be accompanied by the

prescribed due diligence and bank charges fees, as specified in the

Schedule, and by the originals or certified copies of the following

(a)

a certificate in the form prescribed by Identity Malta

from a reputable health system to the satisfaction of Identity

Malta that the main applicant and his dependants 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)

evidence, through due diligence processes, that the

main applicant and his dependants are fit and proper persons to

hold Maltese citizenship;

(d) 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 the Schedule, when called to do so by Identity

Malta;

(e)

an undertaking to purchase or take on lease

immovable residential property in Malta in accordance with

these regulations;

(f)

an undertaking to make such other investments in

Malta in accordance with these regulations; and

(g) any other document as may be required from time to

time by notice issued by Identity Malta.

(3) All applications shall be submitted by the main applicant

to Identity Malta either through Approved Agents or the

concessionaire.

(4) Application forms and other accompanying documents

shall be completed in English or, if the original language of the

document is not English, the document shall be accompanied by an

authenticated translation.

(5) The main applicant shall, with the exception of the spouse,

provide an affidavit of support for each dependant who is over

eighteen years old.

(6) Each application form shall be completed by the applicant

and if the applicant is unable to complete the forms personally, it must

be completed by a legal representative and signed by each and every

applicant.

(7) The following conditions shall apply to dependants who

are below the age of eighteen

(a) the forms shall be signed by both parents on behalf

of the dependant; and

(b) in the case where one parent has sole custody of a

dependant, or another person has legal guardianship of a

dependant, the appropriate legal documentation shall be

provided to demonstrate that sole custody or guardianship was

awarded by a court of law or other relevant authority.

(8) If an applicant makes a false statement or omits

information requested, the application may be declined solely on that

basis.

(9) Applications shall only be accepted and processed on

condition that all forms are properly completed, dated and signed, and

accompanied by all required documents, fees and undertakings,

including, but not limited to, an undertaking to remit the required

contribution as called upon by Identity Malta following the approval

in principle of the application

Provided that police certificates may be submitted at a later

date provided that they are submitted before the application is

approved.

In addition to the qualifications and general requirements

as set out in regulation 4, the minimum eligibility criteria for an

application under the programme, for the applicant and any of his

dependants, shall be as follows

(a) a proper background verification of the applicant

and his dependants over the age of twelve years, as the case may

be;

(b) a police certificate issued by the Malta police as well

as a police certificate issued by the competent authorities in the

country of origin and in the country or countries of residence

where the applicant has resided for a period of more than six

months during the last ten years, or in exceptional cases where

it is proved to the satisfaction of Identity Malta that such a

certificate is not obtainable, a sworn affidavit made by the

applicant and any dependants, declaring a clean criminal record;

(c)

the applicant and, or any of his dependants are not

individuals indicted before an International Criminal Court or

who appeared at any time before an International Criminal

Court, whether such persons have been found guilty or

otherwise by such Court;

(d) the applicant and, or any of his dependants, shall not

be persons listed with the International Criminal Police

Organization (INTERPOL) at the time of application;

(e)

the applicant and, or any of his dependants is not, or

may not be a potential threat to national security, public policy

or public health;

(f)

the applicant and, or any of his dependants shall not

be an individual who, at any time, had pending charges related

to crimes of terrorism, money laundering, funding of terrorism,

crimes against humanity, war crimes, or crimes that infringe

upon such Protection of Human Rights and Fundamental

Freedoms as established by the European Convention on

Human Rights, or who has been found guilty of any such

crimes;

(g) the applicant and, or any of his dependants shall not

be an individual who has been found guilty or has charges

brought against him regarding any of the criminal offences that

disturb the good order of the family, which criminal offences

include, without limitation, the following

(i)

paedophilia,

(ii) defilement of minors,

(iii) rape,

(iv) violent indecent assault,

(v)

inducing persons under age to prostitution,

and

(vi) abduction;

(h) the applicant and, or any of his dependants shall not

be an individual who at any time was found guilty, or, at the

time of the application, is being interrogated and suspected, or

has criminal charges brought against him for any criminal

offence, other than an involuntary offence, punishable with

more than one year imprisonment. The applicant shall attach

with his application a sworn declaration before a commissioner

for oaths, lawyer or notary public that the said information that

he has provided is true and correct;

(i)

where a document is required to be produced under

these regulations in support of an application

(i) such document must be an original document

or if not an original, it must be a certified copy; and

(ii) the person certifying the document shall

provide the full name, capacity in which the person is

acting, residential or business address, telephone number

and email address.

An applicant who -

Ineligible

applicants.

(a)

provides false information on his application;

(b)

has a criminal record;

(c)

is the subject of a criminal investigation;

(d)

is a potential national security threat to Malta;

(e)

is, or is likely to be, involved in any activity likely to

cause disrepute to Malta; or

(f)

has been denied a visa to a country with which

Malta has visa-free travel arrangements and has not

subsequently obtained a visa to the country that issued the

denial,

shall not be approved for citizenship under the programme, unless

Identity Malta is satisfied that the applicant is still worthy of being

considered for approval due to special circumstances to be

demonstrated by the applicant. In such case, Identity Malta shall issue

a reasoned opinion as to why such applicant should still be considered

for approval and shall refer such application to the Minister, who will

have the sole authority to grant such approval.

(1) Every application shall be presented to, and

examined by, Identity Malta, either directly or through the

concessionaire.

(2) Identity Malta shall either directly or through the

concessionaire cause due diligence checks to be performed by one or

more internationally recognized specialised due diligence agents

which in any case are to be approved by Identity Malta, in respect of

every applicant. Such due diligence checks shall be of a four tier

nature. Identity Malta shall in any case be responsible for the proper

carrying out of due diligence tests and shall also carry out due

diligence tests independently of the concessionaire.

(3) Where a lawyer or notary public certifies a document to be

a true copy of the original, that document must be authenticated by -

(a) an apostille in accordance with the provisions of the

Hague Convention of 5th October 1961 Abolishing the

Requirement for Legalisation for Foreign Public Documents, in

the case of a jurisdiction that is a party to that Convention; or

(b) a validation of the certificate of the lawyer or notary

public by the appropriate government department in the case of

a jurisdiction that is not a party to that Convention; or

(c)

a validation of the certificate by a Maltese consular

or diplomatic representation in the case of a jurisdiction that is

not a party to that Convention.

(4) Within ninety days of the presentation of an application for

citizenship, Identity Malta shall verify that

(a)

the application has been certified as formally

correct;

(b) all relevant information provided by the applicant

has been verified by one or more independent due diligence

agents;

(c)

the background of the applicant and his dependants,

if applicable, has been verified by one or more independent due

diligence agents;

(d) all required due diligence fees, passport fees and

bank charges fees as well as a non-refundable payment, as

defined in the Schedule, towards the contribution has been paid;

(e)

the source of all funds have been verified; and

(f)

an appropriate risk weighting has been carried out.

(5) Within thirty days from the date of the completion of the

verification referred to above, Identity Malta shall further review the

application submitted to it, shall carry out appropriate further

background checks, if it deems necessary, and shall notify the

concessionaire and, where applicable, the Approved Agent in writing,

in accordance with the Minister’s instructions, that the application has

been -

(a)

approved in principle;

(b)

refused; or

(c)

delayed for the cause that it is still being processed

Provided that where an application is approved in principle

in accordance with paragraph (a), Identity Malta shall issue a Letter

of Approval in Principle to the main applicant informing him that he

must provide

(a) evidence that the main applicant and dependants are

covered by a global health insurance policy and they declare

that they are in a position to retain such a policy indefinitely;

(b)

a written undertaking to either

(i) acquire and hold a residential immovable

property in Malta having a minimum value of three

hundred and fifty thousand euro (EUR 350,000); or

(ii) take on lease a residential immovable

property in Malta for a minimum annual rent of sixteen

thousand euro (EUR 16,000)

Provided further that the proof required under this sub-

regulation shall be provided within four months from the issue of the

Letter of Approval in Principle by the submission of a contract of

purchase or of lease of the said property to Identity Malta. Property

purchased or taken on lease for the purposes of these regulations may

not, after having been purchased or taken on lease be let or sublet but

such property shall be retained by the applicant for a period of at least

five years from the date of purchase or lease

Provided further that when the applicant has purchased or

taken on lease a residential immovable property in accordance with

these regulations, he shall be entitled to dispose of the property or

terminate the leasehold, provided that he proves to the satisfaction of

Identity Malta that he has purchased or taken on lease another

residential property in Malta which satisfies all the requisites set by

these regulations and other relevant regulations which may be in

force from time to time and commits himself to retain the said

property until the expiration of the period of five years established in

this sub-regulation.

(6) The main applicant shall provide a written undertaking that

he will make such other investments in Malta to an amount of one

hundred and fifty thousand euro (EUR 150,000), amongst others, in

stocks, bonds, debentures, special purpose vehicles or other

investment vehicles as may be identified from time to time by

Identity Malta by means of a notice in the Gazette and to retain the

said investments for a period of not less than five years

Provided that the proof required under this sub-regulation

shall be provided within four months from the issue of the Letter of

Approval in Principle by the submission to Identity Malta of proof

that the said investments have been made.

(7) A personal interview with an applicant shall not be a

mandatory requirement but may be recommended by the

concessionaire and, or considered by Identity Malta, on a case by case

basis. The procedures applicable to personal interviews shall be

determined by Identity Malta.

(8) Within five days of the approval in principle under sub-

regulation (5)(a) the main applicant shall be instructed to remit the

contribution less the non-refundable payment already received, to be

received within twenty days from such instruction. Upon receipt of

the contribution less the non-refundable payment, Identity Malta

shall, provided that the conditions of the Letter of Approval in

Principle have been satisfied, notify the Minister to issue a certificate

of naturalisation.

(9) Within two years but not less than six months from the date

of application and subject to a verification that the conditions of the

Letter of Approval in Principle have been satisfied as provided in

sub-regulation (8), the Minister shall, provided that the conditions of

these regulations are still satisfied, issue a certificate of naturalisation

in the name of the applicant subject to sub-regulation (11).

(10) Within five days of issuance of such certificates, the

concessionaire shall complete the necessary disbursements of the

contribution to Identity Malta and shall retain the amount due to the

concessionaire. Upon receipt of the contribution Identity Malta shall

pay seventy per cent of the same into the National Development and

Social Fund and shall pay the remainder into the Consolidated Fund.

(11) The certificate of naturalisation shall only become

effective and be made available to the applicant, and the application

for a passport may only proceed, after the oath of allegiance has been

taken by the applicant.

(12) No certificate of naturalisation under these regulations

shall be issued unless the main applicant provides proof that he has

been a resident of Malta for a period of at least twelve months

preceding the day of the issuing of the certificate of naturalisation.

(1)

The due diligence fees and bank charges fees are not Refund of fees

and

refundable.

contributions.

(2) The contribution balance, once received in Malta, shall not

be refundable after the letter of approval in principle has been issued.

(3) Passport fees are refundable in the case where passports

have not been applied for.

No person, except Identity Malta, the concessionaire or an Dissemination

Approved Agent shall for gain and without being duly authorised, of information.

advertise, publish or disseminate publicly through any means

whatsoever any information relating to the programme

Provided that Approved Agents shall only advertise,

publish or disseminate publicly any information relating to the

programme in strict compliance with guidelines issued from time to

time by Identity Malta.

Without prejudice to the provisions of article 14 of the Act,

the Minister shall in all cases be deemed to have reserved the right to

deprive a person of his Maltese citizenship granted under the

programme if an applicant who has been granted citizenship fails to

comply with any requirement to lease, purchase and retain property in

Malta or to make and retain investments in Malta, as established by

these regulations or has become a threat to national security or is

involved in conduct which is seriously prejudicial to the vital interests

of Malta. In such cases the procedure for deprivation of citizenship

stipulated in article 14 of the Act and in any regulations made under

the Act in respect of such deprivation shall mutatis mutandis apply.

Identity Malta shall, from time to time, issue procedural

guidelines to specify the operational aspects and interpretations under

these regulations.

The number of successful main applicants, excluding

dependants, shall not exceed one thousand and eight hundred for the

whole duration of the programme.

(1) There shall be a fund to be known as the National

Development and Social Fund into which seventy per cent of

contributions received by Identity Malta under the programme shall

be paid.

(2) The funds received by the National Development and

Social Fund shall be used in the public interest inter alia for the

advancement of education, research, innovation, social purposes,

justice and the rule of law, employment initiatives, the environment

and public health.

(3) The Fund shall have a separate legal personality and may

also subsequently be established as a foundation, a trust or in the

form of another legal person as may be determined by the Minister

from time to time.

(4) The Fund shall be administered by a Board of Governors

consisting of five members of whom one shall be the Chairman and

another shall be the Deputy Chairman who shall be appointed by the

Prime Minister.

(5) The Board of Governors of the Fund shall be responsible to

ensure the highest level of governance of the Fund and that the funds

held in the Fund are used solely for the said intended purposes.

(6) The Fund shall publish its audited accounts on an annual

basis and shall report to the Minister responsible for Finance on its

activities as the said Minister may require but in any case not less

than once a year. The audited accounts and the annual report of the

Fund shall be laid on the table of the House of Representatives by the

Minister responsible for Finance.

(7) The Fund shall be subject to being audited by the Auditor

General.

(1) The programme shall be operated with the utmost Disclosure.

consideration of the international obligations of Malta and of

preserving Malta’s good reputation as a worthy, transparent and

reputable financial centre and a jurisdiction for international business.

(2) The Minister shall every year publish in the Gazette the

names of all persons who during the previous twelve calendar months

were granted Maltese citizenship by registration or naturalization

including those persons who were granted Maltese citizenship under

the programme.

(1) The fees set out in the Schedule shall be paid for the Fees.

matters therein respectively specified.

(2) The provisions of the Fees Ordinance shall apply to the Cap. 35.

fees set out in the Schedule as if they were fees prescribed under the

said Ordinance.

The Individual Investor Programme of the Republic of Revocation of

L.N. 450 of

Malta Regulations, 2013 are hereby revoked.

2013. SCHEDULE

Contribution Requirements and Schedule of Fees

1. Contribution Requirements

The following contributions shall be required as a minimum to qualify for

citizenship under the programme

(a) main applicant: EUR 650,000 (six hundred and fifty thousand

euro), of which a non-refundable payment of EUR 10,000 (ten thousand

euro) shall be remitted as a non-refundable deposit prior to submission of the

application;

(b)

spouse: EUR 25,000 (twenty five thousand euro);

(c)

for each and every child below 18 years of age: EUR 25,000

(twenty five thousand euro);

(d) for each and every unmarried child between 18 years of age and

26 years of age: EUR 50,000 (fifty thousand euro);

(e)

for each and every dependant parent above 55 years of age: EUR

50,000 (fifty thousand euro).

2. Schedule of Fees

The following fees shall be payable under each application

(1) Due diligence fees

(a)

main applicant: EUR 7,500 (seven thousand five hundred euro);

(b)

spouse: EUR 5,000 (five thousand euro);

(c)

for each and every child aged between 13 years of age and 18

years of age: EUR 3,000 (three thousand euro);

(d) for each and every dependant unmarried child between 18 years

of age and 26 years of age, EUR 5,000 (five thousand euro);

(e)

for each and every dependant parent above 55 years of age: EUR

5,000 (five thousand euro).

(2) Passport fees and bank charges fees

(a)

Passport: EUR 500 (five hundred euro) per person;

(b)

Bank charges: EUR 200 (two hundred euro) per application.

(3) The contribution requirements and the fees stipulated in this Schedule

shall apply in respect of applications and grants of citizenship under the

programme notwithstanding the provisions of any other regulations.

€1.44