Malta: Latitude Group Announces the 1st Applicants to Receive Maltese Citizenship Approvals Under the MEIN
Published: 17 June 2022
Latitude Group is proud to announce that its Malta office is celebrating their first applicants receiving their Maltese citizenship approvals under the newly established Maltese Exceptional Investor Naturalization (MEIN). These first applicants and their families started their MEIN journey in December 2020 and took just under 18 months to receive their citizenship approvals.
Ryan Darmanin, Managing Director of Latitude Malta, commented: “we are thrilled to see these two families receive their approvals after completing their 12 months of residency under the new MEIN. It is an honour to be the first licenced advisory firm to welcome MEIN approved applicants to Malta and I am very proud of my team and the Government Agency for this milestone. Our dedicated team has been working diligently to replicate our success under the former Malta Individual Investor Programme (MIIP) with the MEIN, and we anticipate many more applicants and approvals in the future as global demand continues to be strong.”
The MEIN grants citizenship to individuals and their families who make a direct investment in the Republic of Malta, contributing to the social and economic development of the country. It is open to reputable individuals and families and gives successful applicants the opportunity to live, do business, and study as citizens of Malta. The goal of the MEIN is to attract the highest standard of applicants from all over the world and have them contribute to the country, both economically and socially. Malta has a long history of attracting foreign direct investment and Latitude helps clients from all over the globe, including from the Middle East, Asia, and USA.
Malta citizenship allows its citizens with a passport the ability to travel to over 180 countries visa-free, including the USA and Canada, as well as the right of settlement in all 26 countries of the EU. Primary applicants can choose to include their spouse and children, parents and grandparents within their application.
The comprehensive application process, which starts with getting residency in Malta, offers two pathways to attain citizenship. The lower capital outlay route takes three years of residency with a contribution of €600,000, while the second route takes a minimum of one year of residency with a contribution of €750,000. Both options require an additional contribution for dependents of €50,000 each and applicants must either rent or purchase property in Malta.
Ezzedeen Soleiman, Managing Partner of Latitude North America, explains: “this is exciting news, especially for our US clients who we have seen a 600% year on year increase in interest. Malta is an attractive destination for our clients seeking more options in life and these approvals re-affirm the advantages of Latitude investing in a highly experienced local team in Malta to ensure the best chances of a successful application.”