Individual Investor Programme does not require physical presence to meet the one year ‘effective residence’ condition for obtaining a Maltese passport
- Published on Friday, 30 October 2015 14:04
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.