International Financial Law Prof Blog

Editor: William Byrnes
Texas A&M University
School of Law

Thursday, March 17, 2016

Why be a Knight of Malta when I can be Maltese instead?

I am going to be in Malta for Easter weekend March 24 - 27 for the 35th anniversary of ELSA-ELS International Council meeting.  Which got me thinking about Knights of Malta... but then a quick search and I realized why be a Knight when I can be real Maltese.... 

Last year the Maltese government received 578 applications under the Citizenship by Investment programme, with 147 having been approved already.  See Times of Malta story

The Individual Investor Programme is designed to attract to Malta’s shores applicants who can share their talent, expertise and business connections. It is the first citizenship Flag_of_Malta.svgprogramme in the European Union to be recognized by the European Commission.

(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):

(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:

12. The number of successful main applicants, excluding dependants, shall not exceed one thousand and eight hundred for the whole duration of the programme.

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

(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

(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. 

  Download Malta Citizen by Investment Law

https://lawprofessors.typepad.com/intfinlaw/2016/03/last-year-the-maltese-government-received-578-applications-under-the-citizenship-by-investment-programme-with-147-having-bee.html

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