The Malta Individual Investor Program (MIIP), which is often inaccurately referred to as Malta’s citizenship by investment scheme, has been a success since 2014. Although many rumors were circulating around it getting canceled, the government refuted those claims in a statement where they dictated changes to the program. According to the announcement, once the program’s quota of 1,800 investors was met in late 2020, alterations were going to be made. This indicated that the program’s content was going to continue, however, under new requirements.
Malta’s national economy benefited from the project’s earlier ambitions to the amount of €1.4 billion, however, it attempted to upgrade the Maltese citizenship program to address its weaknesses in response to the success and confusion it amassed, specifically when it came to the false notion of directly purchasing citizenship.
When the Malta Citizenship by Investment changes came into effect, the program’s new policies stipulated a new set of regulations that demanded investors reside in the island nation for a certain amount of time before becoming eligible for citizenship. This meant that what was once known as Malta’s Individual Investor Program became more accurately described as Malta’s Citizenship by Naturalization scheme, or the Maltese Citizenship Act Granting of Citizenship for Exceptional Services Regulations.
In its early version, the MIIP plan contributed roughly €1.4 billion to the national economy. Reporting on the previous performance of the program, more than €270 million was invested in real estate, either through a five-year lease or an outright purchase, over €186 million was placed in bonds and shares, and close to €5 million was given to other local nonprofit organizations.