Residence permit granted to 50 main IIP applicants

In less than 12 weeks since the Individual Investor Programme came into force, over 100 individuals made financial commitments resulting in over €100 million in foreign direct investment, according to Henley & Partners.

Henley, the main concessionaires for Malta’s sale of citizenship programme, also revealed that over 50 main applicants have already received their residence permits, placing them firmly on the route to achieving full citizenship of Malta.

The first full citizenship application was submitted last week.

“The newest Citizenship-by-Investment program in the world, the Malta Individual Investor Program, has achieved incredible success in its first three months of operation,” Henley & Partners said in a press statement.

“In less than 12 weeks since its launch, Henley & Partners have seen over 100 individuals make financial commitments to the programme, which will total over Euro 100 Million in foreign direct investment.”

According to the citizenship planning consultants, the foreign direct investment comprises deposits, bonds, medical insurance, and real estate among other elements, and equates to almost €10 Million per week.

“The Malta Individual Investor Programme was carefully developed and constructed to ensure that it would be highly attractive to the right kind of individuals. The early success of the programme is testament to its viability and security, and gives a clear indication of the significant benefits that it will bring to the country of Malta,” Henley chairman Christian Kälin said.

Describing the concessionaires as “true experts in the industry”, IIP CEO Jonathan Cardona said the government hoped the successful pace will be maintained.

“Henley & Partners have implemented the program with such speed and created such early impact. We are clearly working with the true experts in their industry,” Cardona said.

According to Cardona, the clients seeking Maltese citizenship are “extremely talented and established individuals and families with the highest professional standards”.

“They bring with them the sort of networks which can take the Maltese economy to the next level. Henley & Partners are showing clear and demonstrable experience and expertise in this field, and we look forward to continuing to develop the success of this important programme with them.”

Following a number of amendments pushed by the Maltese parliament, and after it was green-lit by the European Commission, the citizenship-by-investment programme came into force in March.

Henley have been marketing the programme as one that “offers citizenship in an EU Member State that is stable, neutral and highly respected with an efficient application process, and the world’s strictest due diligence standards and vetting of applicants, thus ensuring only highly respectable clients will be admitted”.

Henley & Partners was awarded a Public Services Concession in 2013 by competitive tender with regard to the design, implementation and international promotion of the IIP.