Update Nov 21, 2013 - The Government and Opposition are attempting to work out a compromise which will be investment based and will also include an undefined period of residency in Malta. The target is to reach agreement by this Friday but it may need another week.
Malta – With its tan rocks jutting out of the clear, warm waters of the Mediterranean, incredible beaches, rich history and proud people, the nation of Malta, located just south of Italy has much to talk about. It is odd then that this enclave of unique culture that was forged by immigrant sailors, merchants and fisherman over the centuries is now in the international spotlight for its new immigration policy.
The international media has made much noise lately about the new Malta Citizenship by Investment programme (CIP) which was approved by the government earlier this month.
The new citizneship programme in Malta offers a glimps of both the past and future of Europe.
In simple terms the Malta Individual Investor Programme (IIP) of 2013, as approved, allows high-net-worth individuals to qualify for citizenship in Malta in return for a contribution to the Government of EUR 650,000. Dependent family members can be included for additional contributions of EUR 25,000 for Spouse and children under 18, Children 18- 25 and parents above 55 require an additional EUR 50,000. As in other successful CIP’s each family member will be subject to strict background and due diligence criteria. Other legal, processing, due diligence fees will also push the over all investment northward. As in other citizenship by investment programmes worldwide, it will be the sole decision of the government to decide who is, and who isn’t able to receive Malta citizenship.
A Maltese passport is one of the best for world travel, with full access to work, live and travel in the EU including the Schengen member states. An added perk is Visa-Free travel to the USA and Canada. The island nation allows duel-citizenship and new citizens of Malta will be able to vote and, in theory, have all the same rights as a natural born Maltese. The extremely vocal critics of the CIP, both local and foreign, want to make sure that that new immigration policy doesn’t negatively affect decades old international relations, or dilute the proud nations heritage.
NTL Immigration, as expected, has been monitoring the situation daily for the past few months, both with “boots on the ground” and frequent communication with high level contacts on the island. We are confident that a win-win solution will be found in short term. Once all the details are finalized, NTL will be offering this exciting Maltese Citizenship opportunity through our local partners, with the renowned personalized and private service that our clients grown accustomed to.
One of the issues associated with the new Malta initiative, is the perceived veil of privacy of new applicants. Historically, names of the new citizens were published in official Government gazette, but this requirement was removed in the Immigration policy of 2013. Although each applicant is thoroughly reviewed with strict criminal background check standards, critics have attacked this “secrecy” as a weakness that will be exploited. In our opinion and experience, a confidential government policy will help attract law-abiding HNWIs who prefer personal privacy to the limelight. “Many wealthy individuals come from countries that do not allow dual-citizenship, “ comments Gilbert Lau of NTL Asia, “others multi-millionaires simply do not want to publicize their international lifestyles.”
Under the new law, there is no residency or minimum of time required on the island. The opposition has argued that all Malta citizens should “know, experience and love” the island. It is hard to argue against this point, but it is good to note that many Maltese proud citizens have been born overseas, and have never visited the island during their lifetimes. NTL’s Aleksander Voronov (Development Director in CIS Region) thinks that applicants will travel to the island on their own accord, “Malta is centrally located, with pleasant weather all year. Many interested people will visit the island through there own decision. Once they experience the beauty and the culture of Malta, it will soon become a permanent stop in their global travels.”
One government Official recently confided that the qualifying contribution should become “more investment as opposed to donation oriented.” Currently the approved programme only allows for a donation to the government. Although these funds do make it to the government treasury the direct effect on the economy is always suspect. We believe that a true investment in the public sector, either in real estate development or investment in a company operating in the country, will give a greater and longer lasting effect on the population.
Lastly we support the sovereignty of Malta. In support of Malta, the EU Commission declared last week that “member states have full sovereignty to decide how and to whom they grant full nationality.” Only the Maltese government and people should decide which is the best way to move forward. It is up to the politicians to find a win-win solution, which will benefit Malta moving forward.
Currently in Malta, an effort is underway to find a happy middle ground between all political factions so that the scheme would enjoy unanimous support.
We believe that the economical benefits of the Citizenship Programme to Malta will far outweigh the political bickering, and that shortly we will have a CIP ready to process clients, although it may have some subtle to rather drastic changes.
Continue to visit our website, and keep in contact with your favourite NTL agent for more info, as this interesting story progresses. We will report the latest news (with an inside scoop), and as soon as all the details are ironed out - will proudly support Malta with thier programme.
Thursday, April 17, 2014 at 11:25PM 
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