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Individual Investor Programme does not require physical presence to meet the one year ‘effective residence’ condition for obtaining a Maltese passport

On 28 October, the Regulator of the Individual Investor Programme  in Malta confirmed that a pecuniary contribution of €650,000, a property lease or purchase agreement and the holding of a maximum investment – among other obligations – suffice to prove an applicant’s residency.  In 2014, Malta’s IIP was amended to include a one-year ‘effective residence’ condition. However, the IIP Regulator is of the view that residence is a legal status, which does not require physical presence.

From 1 July 2014 until 30 June 2015, there have been 245 applications for Malta’s IIP, out of which 11 have been rejected. 

For further details see the article in Malta Today, read the EUDO Forum debate on the sale of citizenship, and Jelena Dzankic’s Working Paper on investor citizenship in the EU