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CITIZENSHIP BY INVESTMENT – The Application Process

CITIZENSHIP BY INVESTMENT – The Application Process

Identity Malta must, either directly, or through the concessionaire examine all applications which are presented through an Approved Agent.

Step 1 – Residency

The process is initiated with an application being lodged with Identity Malta for Maltese residency. The applicant must make a non-refundable payment of €5,000, and an additional €1,000 for each dependant, which payment is made on account of the €650,000 contribution. A residency card is issued within 5 days and the applicants are granted the right to reside in Malta for a period of 18 months. Once the residency card is issued, the 12-month residency time frame starts to run and during such period the applicant will benefit from visa free travel within the Schengen Area.

Step 2 – MIIP Application

The application and all supporting documentation are to be submitted to Identity Malta together with a non-refundable payment of €10,000 made on account of the €650,000 contribution.

Step 3 –Identity Malta to verify the application and commence due diligence

Once the application is submitted, Identity Malta proceeds to verify the completeness of the documentation submitted together with the due diligence exercise carried out by the Approved Agent within a time period of 90 days.

Step 4 – Letter of Acceptance

Following such time period, Identity Malta has 30 days from the date of completion of the verification period to notify the Approved Agent in writing about whether the application has been accepted or denied. At this point in the process, Identity Malta has the right to inform the Approved Agent that the application is still in progress.

Step 5 – Provide Health Insurance

When the application is sanctioned, Identity Malta will send an acceptance letter to the candidate and ask for him or her to give proof of an internationally recognised health insurance policy which has a minimum coverage of €50,000 for the main applicant and each of the dependants. Moreover, proof must be shown that they can maintain the same for an indefinite period.

Step 6 – Identity Malta requests payment of contribution

Upon the acceptance of the application, the main applicant has 5 days in which to remit the contribution which is to be received within 20 days from such instruction.

Step 7 – Evidence of qualified investments

The main applicant must provide the written undertakings related to the required property investment and Government bond investment.

Step 8 – Certificate of naturalization is issued

Once all the requirements have been fulfilled, and investments made, Identity Malta will inform the Ministry and a certificate of naturalization granting Maltese citizenship will be issued.

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