The due diligence process in Malta Individual Investor Program is one of the most stringent and of the highest standards, this process is designed to ensure that only quality investors who can actually add value to the country are approved.
Due diligence fees for family members are the following:
- Main applicant: 7,500 EUR
- Spouse: 5,000 EUR
- Each and every child aged 13-17: 3,000 EUR
- Each and every dependent unmarried child aged 18-26: 5,000 EUR
- Each and every dependent parent aged above 55: 5,000 EUR
Malta’s Citizenship by Investment Program is based on four-tier due diligence process as follows:
The First Tier: The first stage of the process is when the agency receives the application, Know-Your-Client due diligence procedures are conducted by the agency and the agent through online databases like World-Check.
The Second Tier:
Clearance is obtained from the Police Authorities checking applicants through several databases, such as Interpol, Europol and others. Any issues encountered at this stage are reported back to the Agency.
It must be pointed out that any Third Country National (TCN) applicant or dependant who requires a visa to be able to visit Malta and, therefore, enter the Schengen zone, is to go through the standard Schengen visa application procedures.
The Third Tier:
This stage is carried out by the Agency’s assessors.
All documentation is checked ensure it has been correctly filled out and all required documents are submitted.
This stage also comprises checks against world-check databases to verify the documents submitted through international databases and it will focused on the applicants corporate affiliations, any significant one-time transactions, donations, or inheritance, and any significant business partners or very close associates.
The sources of funds and wealth are also reviewed at this stage to ensure that sufficient information and supporting documentation has been provided.
The Fourth Tier:
The last level of the due diligence procedure all the information will be verified and checked with online and local databases in each of the family’s country of residence, also on the ground checks will be conducted, afterward, two reports are commissioned from international companies on every family member.
After the checks are done, all information is then reviewed and discussed by the agency internally, by a team that is composed of eight individuals from banking and audit backgrounds, and who are trained in anti-money laundering regulations and such discussions are then conducted with the senior management team of the agency who then issues a recommendation about the application to the responsible minister.