Public Consultation on extending the Malta IIP

Since the introduction of the Individual Investor Programme in Malta, the country has received over 1,200 applications. According to law, the programme has a cap of 1,800 applications meaning that its availability will cease once this amount is reached. Carmel de Gabriele, regulator of the Malta IIP stated that the cap may be reached by the end of this year.

In the light of this eventuality, Identity Malta is holding a public consultation on how this programme can be extended. The agency will also be asking the public to look at the obligatory criteria for prospective new citizens, legal dispositions and whether any new services should be offered to individuals who invest in Malta.

Identity Malta believes that if the programme is extended, it will need to retain its attractiveness. To this effect, some administrative processes that are undermining its competitiveness will need to be reviewed. On the other hand, the regulator insists that the programme needs to maintain its good reputation achieved through the rigorous due diligence process required with each application.

This consultation is to come to an end by the end of February 2018.

For more information on the Malta Individual Investor Programme please contact us on info@csbgroup.com or call on +356 2257 2557.