Issuance of the Ninth Annual Report on MEIN and MIIP

On February 18, 2025, the Ninth Annual Report on Malta’s CIP was officially released. Although the report was completed in June 2023, it was only made publicly available on the Maltese government’s website on February 18. This report covers statistical data for the entire calendar year of 2022, including information on the ongoing Malta Exceptional Investor Naturalisation (MEIN) Programme and the now-terminated Malta Individual Investor Programme (MIIP).

https://orgces.gov.mt/wp-content/uploads/2025/02/Annual-Report-2022.pdf

Applications submitted to the CMA

According to the application data, The number of eligibility applications received by the CMA under the GCES, during the year 2022 amounted to 175, and 2 were for the former Malta Individual Investor Programme (MIIP). Compared to 23 applications in 2021, the number of applications in 2022 increased sixfold, indicating a gradual recovery in applications.

The government did not disclose specific application data by country but instead provided an analysis based on regions. For the first time, the Asia region ranked first, accounting for 38% of the applications, followed by North America. Europe, which had consistently ranked first in previous years, saw its application numbers drop to third place in 2022.

Statistical information about the citizenships held by Main Applicants at the eligibility assessment stage shows that the majority of the Main Applicants, consisting of 82% of the total number of Main Applicants, only had one previous citizenship. This would mean that if their applications were to be successful at eligibility stage, and subsequently at citizenship stage, the Maltese Citizenship would be their second citizenship. The remaining 18%, had two previous citizenships. None of the applicants had more than two previous citizenships at the time of application.

Outcome of Eligibility Applications

A key highlight of the 2022 report is that it not only presents the approval details but also provides an in-depth analysis of the monthly approval and application numbers. As illustrated in the report, a total of 70 eligibility applications were approved in 2022.The highest number of approved applications during the period under review was reached in June, with 15 approved eligibility applications. Conversely, in April 2022, no applications were successfully concluded.

As is widely known, Malta’s Citizenship by Investment Programme is renowned for its rigorous multi-layered due diligence process. In 2022, a total of 17 applications were rejected, reflecting the programme’s consistently high standards in applicant screening. The majority of rejected applications originated from Europe with a total of 7 applications. The other applications originated from North America (3), Africa (2), Asia(2), Middle East and Gulf (2), and Caribbean (1).

Employment Status&Educational Level

The program does not have language or educational requirements. From the applicants’ backgrounds, more than half are business owners, and over 26% of applicants hold a bachelor’s degree or higher.

Gender of Applicants

During the present reporting period, the gender of the Main Applicants continued to be predominantly male, with 82% of male Main Applicants and 18% of female Main Applicants.

Properties

One of the Main Applicants’ obligations, as established by the Regulations, is to invest in a residential immovable property in the Maltese Islands for a minimum period of 5 consecutive years . This obligation can be satisfied by either acquiring a property having a minimum value of €700,000, or by leasing a property for a minimum annual lease of €16,000. In comparison, the leasing option offers greater flexibility and does not tie up substantial capital. Historical data indicates that, on average, 90% of applicants opt for the leasing model.

In this regard, out of the 15 properties that were either purchased or leased during 2022, 87% of properties were leased where as the remaining 13% were purchased.

In summary, this is an excerpt of the Globevisa team’s analysis of the Ninth Annual Report on the Malta CIP.

The Future of the EU Citizenship by Investment Program

Malta Citizenship by Investment (CBI) program has been at the center of ongoing controversies in the past few years. Since the European Parliament first called for Malta to shut down its CBI program in 2020, Malta was referred to the European Court of Justice in 2022, and in March 2023, a formal lawsuit was filed. The Maltese government has remained steadfast, asserting that “this is a matter of national sovereignty, and we will not close the program.” This demonstrates Malta’s firm commitment to preserving the integrity of EU citizenship, believing that the program has never violated EU legal values.

Press corner | European Commission

The dispute between both parties continues to this day. With the Advocate General of the European Court of Justice, Anthony Collins, issuing his opinion on October 4, 2024, the ruling in the case between the European Commission and Malta is imminent. It is important to note that, regardless of the outcome of the lawsuit, the CBI program is capped at a global limit of 1,500 citizenships. As the quota depletes, it is highly likely that the program will be discontinued in 2025.

As a global leader in the investment immigration sector, Globevisa continues to monitor immigration policies across various countries. In the current situation, we strongly advise prospective applicants to act swiftly. According to confirmations from malta authorities, regardless of the future outcome of the litigation between Malta and the EU, applicants who have already submitted their applications or successfully obtained their passports will not be affected. By signing up with Globevisa and submitting the application, clients can ensure that their cases remain in the review phase, thus avoiding retroactive changes. Therefore, the most urgent task is to initiate the EU citizenship application process as soon as possible to secure an EU passport without delay.