INDIVIDUAL INVESTOR PROGRAMME OFTHE REPUBLIC OF MALTA EXPL - PowerPoint PPT Presentation

INDIVIDUAL INVESTOR PROGRAMME OFTHE REPUBLIC OF MALTA EXPL EXPLANATORY Y MEMO MEMORANDUM

CONT ENTS Individual Investment Programme ¤ Why Malta? ¤ Requirements ¤ Beneficiaries of the Main Applicant ¤ Procedural Timeline ¤ Contributions & Fees ¤ G Consulting – Contact Info ¤

INDIVIDUAL INVES TMENT PROGRAMME Reputable foreign individuals and families who are duly qualified in terms of the Maltese Citizenship Act and the Individual Investor Programme of the Republic of Malta Regulations, 2014 and who contribute to the economic development of Malta are entitled to be granted full citizenship in Malta under the Individual Investor Programme (“IIP”). The IIP aims at attracting the right investors to come to Malta, bring their expertise and experience, create new opportunities and make an economic contribution to the country. Th The programme is curren cu ently ly lim limit ited ed to 1,800 main in applica licants and is the only citizenship programme that has been rubberstamped by the European Union.

WHY MALTA? A republic island situated at the centre of the Mediterranean § Politically and economically stable § Higher economic growth than most EU countries § Member of the EU since 2004 § Commonwealth Member State § Part of the Schengen area § Attractive place to live or to own a second home. § Key Advantages of the IIP in Malta Citizenship in an EU Member State that is stable, neutral and highly respected with an efficient § and flexible tax structure; Efficient application process; § Strict due diligence standards and vetting of applicants, thus ensuring only highly respectable § applicants will be admitted; Visa-free travel to more than 160 countries in the world, including the USA; § EU citizenship giving right of establishment in all the 28 EU countries and Switzerland. §

REQUIRE MENTS The applicant under the IIP must submit an application in the prescribed form and must be subject to a very thorough application procedure including detailed due diligence, background verification checks, undertakings, fees, and bank charges as specified in the Regulations. In order to qualify for citizenship, the main applicant must: a) be over 18 years of age; b) Make a contribution to the National Development and Social Fund c) Applicant must prove that he is in possession of a residential address in Malta either by acquiring and holding a residential immovable property in Malta (having a minimum value of € 350,000) or by renting property for a minimum annual rent of € 16,000. The said property must be retained by the applicant for a period of at least 5 years from the date of purchase or lease. d) Applicant must also provide proof that he has been a resident in Malta for a period of at least 12 months; e) The applicant must commit himself to invest € 150,000 in stocks, bonds, debentures, special purpose vehicles or other investment which must be retained for a period of 5 years. Moreover, applicants and their dependents ought to be in possession of a Global Health Insurance coverage for at least € 50,000. This has to be retained for an indefinite period. In addition to these requirements, the applicant must have a completely clean personal background and no criminal record.

BENEFICIARIES OF THE MAIN APPLICANT a) Spouse who is in a monogamous marriage or in a relationship having the same or similar status to marriage b) Dependents of 18 years of age and under; c) Dependents between the age of 18 and 26 years of age, who are not married and who are wholly supported by the main applicant and form part of the household d) Dependents over the age of 55 years (e.g. parents), who are wholly supported by and who form part of the household of the main applicant.

PROCEDURAL TIMELINE 1) An application pack complied and sent by the Authorized Agent is duly received and checked for completeness by Identify Malta 2) Upon the issuing of an Acknowledgement of receipt (AOR) by Identify Malta, the applicant must then proceed to affect the payment of Due Diligence fees, bank Charges and a € 10,000 non-refundable Contribution deposit. 3) The applicant is then processed and due diligence checks are undertaken within a review period of four (4) months. 4) Upon the issuing of a Letter of Approval in Principle, an invoice is issued for the balance of the remaining Contribution ( € 640,000) which must be duly paid by the applicant within twenty five (25) days from the date of issue of the aforementioned Letter of Approval in Principle 5) The applicant must then prove that he/she has a contractual undertaking to fulfill the below programme requirement within four (4) months from the date of issue of the Letter of Approval in Principle, namely: a) Purchase a property with a minimum value of € 350,000 (property must be kept for a period of at least 5 years within which it cannot be let); b) OR lease a residential property in Malta for a period of 5 years, at an annual rent of at least € 16,000 (property cannot be assigned or sublet);

PROCEDURAL TIMELINE c) Invest in stocks, bonds or special purpose vehicles to be identified from time to time by Identity Malta, for a minimum value of € 150,000 (to be held for at least 5 years); d) Applicants must have a Global Health insurance cover (including USA and Canada) for at least Euro 50,000 for main applicant and each of the dependents) 6) Upon achievement and evidence of twelve (12) months residency and the fulfilment of all of the above-listed necessary requirements as well as the swearing of the Oath of Allegiance, a Certificate of Naturalisation will be issued. 7) Lastly, a passport application will be submitted in conjunction with the payment by the applicant of the passport fees for the subsequent issuing of the applicant’s passport.

CONTRIBUTION & FEES The following non-refundable contributions to the Malta National Development & Social Fund / Consolidated Fund are required to be made following the receipt of the Letter of Approval in principle in terms of the Citizenship Programme: Co Contribution to National Development and Social Fund Main Applicant (of which € 10,000 is payable as the Non-Refundable Contribution) € 650,000 • • Spouse € 25,000 • Children under the age of 18 € 25,000 Unmarried children aged 18 and over, but below 27 € 50,000 • Dependent parents and grandparents aged over 55 years € 50,000 • The following fees are payable (non-refundable) to Identity Malta and are required to be made with the application: Due Due Di Diligenc nce Fees payable to Ident ntity Ma Malta ta • Main Applicant € 7,500 • Spouse € 5,000 Children aged 13 and over, but under 18 € 3,000 • Unmarried children aged 18 and over, but under 27 € 5,000 • Dependent parents and grandparents aged over 55 years € 5,000 •

CONTRIBUTION & FEES Ot Other er Fees ees payable le to Iden entit ity Ma Malta ta • Passport fee, per applicant € 500 • Bank charges, per application € 200 Passport fees are refundable if passports are not applied for. Bank charges are not refundable. Pr Professional Fe Fees A quotation for our professional services tailored according to the client’s requirements shall be • provided upon request.

G CONSULTING – CONTACT DETAILS G Consulting has been mandated as a sub agent, authorised by Identity Malta, to represent one of Malta’s leading multi-disciplinary legal firms in promoting the sale of the Ma Malte tese Ci Citizenship by by In Investment Pr Programme . For further information, please contact: Mr Mr. Pa Patrick Ga Gambin Managing Director Mobile:+971 50 556 5689 E-mail:patrick.gambin@gconsultingco.com