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What kind of source-of-funds documentation is needed for a Malta citizenship-by-investment application?

I want to apply for Malta’s CBI program but don’t always have a lot of documentation to account for my family’s funds. We have prospered, but in a cash-based society where many don’t trust banks. What are some tips you have for my application, or do I not need to worry?

  • Charles Scerri & Associates
    January 23, 2019

    The main applicant should provide a summarized statement of how he/she has accumulated his/her estimated total net worth stated by listing the main types of acquisitions/dispositions and events that have led to its accumulation. In the case where the net worth is generated from a company, the due diligence required in such case relates to proof of ownership of the main applicant in relation to that company. However, where such net worth is generated from other investments in, for instance, investment funds, venture capital funds, other securities on the financial markets, donation and/or by other legitimate means, supporting documentation is required. This includes, in cases of investment in funds, details of the investment, the name of fund and amount of investment. For holding of other securities on the financial markets, details of the same is to be provided. With respect to donation, information on the donation, the amount as well as the donor needs to be provided. Alternatively, we can request a sworn affidavit by the auditor of the main applicant providing for an estimate of the net worth of the client, as well as list of investments held. This should suffice for the purposes of the application.

  • BIZ Consult Limited
    January 25, 2019

    You need to provide the documents confirming your source of funds: ownership of companies; a resolution to pay out dividends; income statements submitted to the tax department; wills, if received, and any funds by them; and other types of documents.

  • January 22, 2019

    For the purposes of applying for the individual investor program, the main applicant may prove his/her source of funds by including various documentation in the application. They could, for example, submit a detailed curriculum vitae listing the main applicant’s principal activities or documentation that prove that the main applicant holds a number of immovable properties. However, it is important to note that the main applicant would be required to present a bank statement of the bank account from which the contribution of 650,000 euros would be transferred from.