MIIPA Malta Individual Investor Programme Agency

February 15 00:00 2020 by The Editor Print This Article

The Malta IIP Agency MIIPA was established in May 2018 as an independent government entity to administer Malta‚Äôs citizenship by investment programme, especially focused on the operations of the Malta Individual Investor Programme the IIP. 

Establishment of MIIPA Malta Citizenship Agency

Before its establishment as a separate legal entity, MIIPA's functions formed part of the Identity Malta Agency, established in 2013.  Both Identity Malta and the MIIP Agency fall within the responsibility of the Ministry for Home Affairs, Law Enforcement and National Security. Identity Malta was set up as his government agency was established with the aim of centralizing key identity databases of all passport records, national identity records, public and land registries and other civil registries. As applicable to government agencies, the Identity Malta Agency as a body corporate has a separate legal personality. This means that the Agency is capable of entering into contracts, of suing and being sued, of acquiring, holding and disposing of any kind of property for the carrying out of its operations.  The Malta IIP Agency MIIPA has taken out the specialised responsibilities related to the MIIP.

Responsibilities of Malta IIP Citizenship Agency

The Malta Individual Investor Programme Agency (MIIPA) is responsible for the processing of applications, the carrying out of an in-depth due diligence process and putting forward recommendations to the Government regarding the granting of citizenship or otherwise.  Malta's citizenship due diligence has been internationally recognised as the gold-standard of citizenship due diligence in the investment migration industry. The MIIPA goes to a serious level of detail on each application, knowing that the success of the programme rests on its robustness and high regulatory standard.

A core function that was launched first was responsibility for the implementation and administration of the Malta Individual Investor Programme, resulting in the issue of Malta passports to applicants under the Malta Citizenship by Investment program

The Malta Citizenship IIP Agency is established as a body corporate having a distinct legal personality and shall be capable, subject to the provisions of this Agreement, of entering into contracts, of acquiring holding and disposing of any property for the purpose of its functions of suing and being sued and of doing all such things and entering into all such transactions as are incidental or conducive to the exercise or performance of its functions under this Agreement.

Supervision of the IIP Agency

The Maltese Citizenship Agency is subject to the supervision and unfettered access of the Office of the Regulator of the IIP, or ORiip, who has the function of acting as Malta's Citizenship Regulator.

The National Development and Social Fund

The Malta Individual Investor Programme Agency contributes 70% of the contributions that it generates through the IIP to the National Development and Social Fund. The National Development and Social Fund NDSF is an autonomous agency established for the purpose of managing and administering IIP funds and to contribute its funds towards promoting and supporting major projects, implement initiatives of national importance to improve our economy, and enhance our public services. These also include the advancement in education, research, innovation, social purpose, justice and the rule of law, employment initiatives, the environment and public health.