Maltese Investor Programme Shows a Drop in Figures Due to Unfairly Bad Publicity
Experts believe that the recent decrease in applications for the Maltese Individual Investment Programme (IIP) is due to unfavourable PR and tough competition. 311 candidates submitted their applications between July 2018 and June 2019 - 19 fewer than the year before.
In terms of money, Malta attracted €271.6 million that accounts for over 2 percent of the country’s GDP. Malta imposes a fee of €650,000 per main applicant plus the cost of property purchase/rental and a minimum investment in Maltese stocks of €150,000.
By June 2019, just 58.6 percent of the 1,800 passport holders (the 2014 launch year target) was accomplished. Overall, the programme brought in €834.8 million. €514 million went to the National Development and Social Fund, €220 million landed in the government’s Consolidated Fund.
The IIP regulator reported the continuous downward trend blaming bad publicity globally and country-wise as well as excessive supply of investment migration programmes. The regulator consistently responds to due diligence claims against the Maltese IIP. The State agency handling the programme exposed 14 cases of suspected criminal actions that turned up in the course of application processing. Such cases were immediately reported to the government’s anti-money laundering body.
The regulator’s report concluded on a positive note forecasting a bounce-back on the applications later this year.
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