Malta’s Individual Investor Program aimed at ultra-high net worth individuals and families worldwide has attracted over US$330 million of capital in the last six months.
The IIP is a modern citizenship-by-investment program designed and operated by Henley & Partners for the Government of Malta under a Public Services Concession.
The IIP allows for the grant of citizenship to duly qualified, reputable foreign individuals and families who make a significant contribution to the economic development of Malta.
Over 200 applications for citizenship have been received since the program’s launch in early 2014, with a number already at the Due Diligence phase.
This represents a commitment of foreign direct investment into Malta of over 200 million Euros or 330 million US Dollars over the last six months.
The IIP has the world’s strictest Due Diligence standards, ensuring that only highly respectable clients will be admitted. The program intake is also capped at 1,800 successful main applicants, after which the program will close, making this the most exclusive program globally.
There are over 30 nationalities represented among the applicants so far.
Identity Malta chief executive officer, Jonathan Cardona, commented on Henley & Partners’ role, "Their excellent services are attracting to Malta the type of individuals that the government wanted to target through the IIP, with the potential of significant investment in our country".
Many applicants started the IIP process intending to rent property on Malta, but are now considering purchasing, having spent time on the islands. Mr Cardona confirmed that a number of applicants were opting to buy property. He added that the investment interest was quite wide-ranging, from hotels and real estate, to factories, IT and the film industry.
A private client, who wished to remain anonymous, shared the reason he proceeded with the IIP, "I liked the idea of becoming European and providing my children the right to travel without hassle, and to also live, work and study anywhere in Europe."