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Vistra Malta becomes approved intermediary for IIP applications

Marco Bugelli, managing director of Vistra Malta, has been approved as an accredited person by the Identity Malta Agency.

This now enables Vistra Malta to submit applications under the Malta Individual Investor Programme (IIP) on behalf of clients.
Under the IIP, reputable individuals and their dependants who will make a significant contribution to the social and economic development of the country can apply for naturalisation following a rigid and thorough due diligence process.
The following key requirements must be met in order for applicants to be considered:
• Applicants must be at least 18 years old.
• Applicants must make a significant contribution to the National Development and Social Fund for the social and economic development of the country.
• Main applicants and dependants must be able to produce evidence that they are covered by a global health insurance policy.
• Applicants must have proof of a residential address in Malta either by:
                ◦              purchasing a property of at least EUR350,000; or
                ◦              renting a property at a minimum of EUR16,000 per year.
In either case, and in order to maintain their right to Maltese citizenship, applicants are contractually bound to keep the property for a minimum of five years.
• Individuals must satisfy a residency requirement of a minimum period of 12 months preceding the day of naturalisation.
• Applicants must commit to invest at least EUR150,000 in local stocks, bonds, debentures, special purpose vehicles or other investment vehicles as may be provided from time to time by the competent authorities. These investments must be retained for a period of not less than five years.

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