Malta's Coffers Boosted By Residency Initiatives
by Jason Gorringe, Lowtax.net, London
04 October, 2017
Malta's coffers are substantially boosted by citizenship and residency programs, which are designed to attract skilled and wealthy investors to the island.
Under the Individual Investor Program, applicants who can share their talent, expertise, and business connections may be granted citizenship, while the Residency Visa Program allows those who satisfy certain financial criteria to become Maltese residents.
Malta's Parliamentary Secretary for Reforms, Citizenship, and Simplification, Julia Farrugia Portelli, said the Individual Investor Program has contributed more than EUR129m (USD152m) directly to government, with more than EUR300m (USD353m) directly deposited in the National Social Development Fund to finance major social, employment, and educational initiatives.
Portelli also commented on the Residency Visa Program, which although only commencing in June 2016, ranked as the fifth most popular residency program for Chinese nationals in a recent survey.
See all of today's news