Malta’s Residency to Citizenship by Investment has contributed in no small way to the island’s Economy, Employment, Corporate social-responsibility, the Real-Estate sector and many others. Most importantly the donation paid by prospective beneficiaries goes straight away to Malta’s National Development Social Fund. The mission of the NDSF is to contribute towards, promoting and supporting major projects and initiatives of national importance and public interest which are intended to develop and improve the economy, public services and the general well-being of present and future generations.
Malta’s Residency to Citizenship Programme due diligence procedures are the toughest amongst the majority of other CBI’s or RBIs (Residency by Investment) Programmes. Prospective applicants are immediately notified about Malta’s rigorous enhanced due diligence processes. Only applicants with a clean criminal record, of a very good repute and who are ready and willing to declare and provide tangible evidence about their net worth and sources are considered for on-boarding. There is no playing around here. No options.
Enhanced Due Diligence checks would normally cover but not restricted to :
Personal Integrity Risks; Corruption and Bribery; Political Exposure; Fraud; Money Laundering; Sanctions & Restrictions; Blacklistings; Terrorism; Governance; Financial Risks; Interpol & FBI Checks; Individual business interests; Adverse Media; Sources of Wealth; Employment Positions, Directorships; Companies Shareholdings; Assets Checks; Associations Checks and other additional ones.
All approved accredited agents have the responsibility to introduce applicants that are fit and proper to apply for Citizenship.
Malta launched its first Individual Investor Programme (IIP) way back in 2014. It was and still is a success story. Subsequently in the last two years the Programme was rebranded to Malta’s Residency to Citizenship Programme or Acquisition of Citizenship for Exceptional Services by Direct Investment. The capping (say number of individual cases) stands at 1,200-1,500 over a specific period of time.
It is important to make mention that the Programme is also directly contributing to other business sectors including : Renting or Purchasing of properties from real-estate agents or private individuals; Health Insurances Providers; Hospitality/Hotels; English Language Schools & other Learning Insititutions; Law Firms; CSPs & other Professional entities; Notaries; Architects; Yacht Chartering and many others. However, another important aspect, Malta’s CBI entails a donation by the side of the main applicant of €10,000 on approval to a locally approved NGOs (Non-Profit Organisations). This is real, true, factual social responsibility. As an approved agent, it gives us great satisfaction that investors are also contributing to such an honorable, moral cause. Their donations provide NGOs with the much needed financial support on a recurrent basis. Whilst investors have the right to choose a specific NGO, it gives me great satisfaction when a beneficary opts to assist NGOs who handle people with cancer or other diseases, ALS patients, addictions rehabilitation centres (Drugs/Alcohol), animal sanctuaries/hospitals, institutions for people with special needs, orphanages and others who definitely require support.
Immigration by investment, citizenship or residency by investment are good things. They contribute in no small way to any country running a successful RBI or a CBI. Clearly much more positives than negatives. Notwithstanding, the human element may jeopardize their existence especially where serious EDD is absent. Referring back to Malta’s CBI, it is very encouraging to note that its EDD checks are a world-wide benchmark and that accredited agents promoting and offering the Malta Programmes are also themselves brought to task, verified and approved before a license (immVest’s license is AKM-IMMV) by Komunita’ Malta is issued. This further corroborates my version that the whole procedure is based on a very strong legal framework and key stakeholders’ operations are monitored and action taken whenever necessary.
In conclusion and in line with the precedent paragraphs, CBIs lead to real value, to the inclusion of people of different cultural orientations and to bringing about positive holistic change. All can be achieved as long as serious tools and practices are in place to on-boarding fit and proper applicants.