Citizen Investment Schemes first launched in 2014 have earned Malta €1.7 billion from applicants that have been granted Maltese citizenship. On the first year anniversary since launching Aġenzija Komunità Malta, the Parliamentary Secretary for Citizenship Alex Muscat said this income have given a new breath for the economy and continued to do so even during the pandemic.
In 2021, Aġenzija Komunità Malta processed 2,350 citizenship applications. Two thirds of these were the result of Maltese descent and marriage reasons and the applications were mainly British but also Australian, American, Canadian and French. Other applications were from sports personalities, immigrants that have long resided and worked in Malta and investors wishing to invest in Malta. During the media conference Alex Muscat said the Agency has an important role to increase the country’s economic well-being even during the pandemic.
The Agency’s Executive Head, Joe Mizzi, said that last year this enabled more than €1.8 million in support of NGOs. He said the Agency processed about 180 applications from third countries to enable them to work in a remote manner through foreign countries. On average, applicants are aged 37 years and the majority are male. Coming mainly from the UK and the US, these were granted what is termed as the Nomad Residence Permit because they are not EU citizens.
The Executive Head of Residency Malta, Charles Mizzi, said that since June 2021, the Agency has received a substantial number of applications every day. Parliamentary Secretary Alex Muscat said these have an average income of €60,000 annually and these are stimulating the economy because they have to pay rent for facilities and invest their finance in local enterprises.
Further Reading:
Residency Malta – https://residencymalta.gov.mt/
Residency Malta Agency is the Government entity responsible for managing and promoting Malta’s residency-by-investment programme. The Agency is consistent in its rigorous efforts to attract quality individuals and families, applying a stringent four-tier due diligence process that ensures the most meticulous of screening. It is based on this ethic, coupled with transparency and integrity that the Agency approaches all its transactions. Boasting an efficient customer service, the Agency’s team liaises with Licensed Agents, to ensure the fastest and smoothest possible processing of applications that only the strictest due diligence allows.
Community Malta Agency – https://komunita.gov.mt/en/
Community Malta Agency is a Government Agency responsible for administering all Maltese citizenship-related matters. This includes accepting and processing applications for the acquisition of Maltese citizenship by birth, by registration, by naturalisation through long term residence, for exceptional services by merit, and for exceptional services by direct investment in Malta.
