(PRWEB UK) 13 December 2013
It has been reported in Expat Forum that individuals who invest a minimum of €650,000 and pass background checks will be granted citizenship to the European country. The new law also states that a further investment of €25,000 for their spouses and children will ensure their citizenship. The new Individual Investor Programme (IIP) is not the first to be implemented in countries around the world, with Austria, Spain, and Belgium among others already having similar schemes in place. The programme in Malta, which has been set up to improve the country’s economy, is expected to produce a minimum of €30 million in 2014, with the money being used to create a National Development Fund and contribute to social and national projects.
According to Expat Forum, the IPP is one scheme among many which aims to draw wealthy investors to the island. The Highly Qualified Persons Rules scheme, implemented in 2011, was introduced to encourage professionals with skills such as accountancy to the island. A property visa programme is also in place in the country, which grants citizenship to those who invest €220,000 and €275, 000 in property.
A spokesperson for Henley & Partners, who are operating the scheme, said that:
“The Malta IIP is aimed at ultra-high net worth individuals and families worldwide. It offers citizenship in an EU member state that is stable, neutral and highly respected.”
Renowned for their high level removals service designed for high net worth customers moving to Malta, the removal specialists at Interdean closely follow industry news. Interested in the recent introduction of the initiative, a representative for the company responded to the scheme:
“It is welcome news that an initiative has been put in place which encourages wealthy investors to move to Malta. Wealthy investors have a lot to offer countries such as Malta, with their funds helping to improve the local economy and national projects, so schemes and visa changes which encourage individuals to move to Malta can be highly beneficial for the country.”
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