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Due Diligence Process in Malta Individual Investor Program

Due Diligence Process in Malta Individual Investor Program

due-diligence-process-in-malta-individual-investor-program

The due diligence process in Malta Individual Investor Program is one of the most stringent and efficient throughout the entirety of citizenship by investment programs in the world, 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: The second level is based on two aspects, the first one is the clearance which is obtained from Police Authorities which check the applicants through different databases, such as the Interpol, Europol, and others, and the second one is the standard Schengen area procedures which third-country nationals must go through. 

The Third Tier: At this level of the process, the application goes through two stages, the first one is when the Agency’s team ensures the completeness and correctness of the application’s documents against the set standards and requirements, the second one is through in-depth online due diligence check and verification of 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 Fourth Tier: The last level of the due diligence procedure is the outsourced due diligence from which is conducted through third parties, in this stage 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. 

Sources:

Malta Individual Investor Program Agency – Due Diligence Process