Investors interested in obtaining a citizenship and passport of the European country of Malta for themselves and their future generations must apply at latest in September 2020, which is the deadline for MIIP applications.
Alex Muscat, the Parliamentary Secretary of Citizenship and Communities of Malta announced new regulations that have been tabled to parliament. These new regulations state that investors must now obtain a residence permit and reside in Malta prior to acquiring citizenship.
Changes to the investment requirements were announced as well, with the contribution amount rising to 600,000 Euro for those willing to reside 3 years prior to applying to citizenship, or 750,000 Euro for investors who wish to reside only one year prior to applying for citizenship. There will be an additional 50,000 Euro for each dependent added to the application.
The threshold for minimum investment in real estate has doubled, becoming 700,000 Euro instead of 350,000 Euro. There will also be a donation of 10,000 Euro into a non-profit organization.
Interested investors may still have a chance to apply for citizenship under the current regulations and before passing the new ones, by submitting their application before the end of August, and the citizenship application before the end of September 2020.