Identity Malta Accreditation – Process
The Identity Malta accreditation process for authorised intermediaries leading to Approved Agent status emanates from the Individual Investor Programme of the Republic of Malta Regulations, 2013. Issued under Maltese Citizenship Act, the rules emphasise the importance of Identity Malta accreditation of applicants under the Malta Citizenship by Investment Programme and imposes a number of quality and precautionary measures to ensure appropriate due diligence is performed pre-application by experienced immigration law specialists.
All accredited persons must undergo a thorough Identity Malta Accreditation application process to become an Accredited Person (under the Maltese Citizenship Act, Cap. 188 and relative subsidiary legislation). This process involves:
An application with Identity Malta Agency
- Due completion of the Accredited Person Licence Form
- A confirmation that the Accredited Person agrees with the requirements and declarations contained I in the form, rules and the Code of Conduct
- The successful completion of a thorough due diligence process on the proposed Accredited Person & the body corporate he/she represents
- The grant of such accreditation.
Identity Malta Accreditation – Conditions
The Accredited Person shall abide fully by the guidelines, codes of conduct or codes of ethics issued by Identity Malta Agency from time to time and made specifically available to Accredited Persons. These include license holder:
- being resident in Malta
- having adequate professional indemnity cover
- being in possession of a recognised professional qualification
- attending and completing specific briefing sessions prior to licence being issued and
- having access to and the use of an online due diligence database to be used to verify that their prospective MIIP applicants have no evidence in the public domain of any issues of concern with their personal background.
Identity Malta Accreditation – Responsibilities
Accredited Persons agree to protect the integrity of the Malta Individual Investor Programme (MIIP) and agree to abide by the operating conditions as issued by Identity Malta Agency. They accept responsibility for the conduct and practices undertaken by themselves, sub-agents and referrers and this commitment extends to any advertising, marketing and public dissemination of information relating to the MIIP.
Accredited persons should specifically carry out the following
- provide Identity Malta with the details of all intended referral sub agents who must be approved by Identity Malta itself
- provide any information requested by Identity Malta applications where the applicant has completed and submitted the prescribed forms, even if the application is later on withdrawn or will not be proceeded to by the Accredited Person
- uphold the highest level of ethical and professional standards and protect the long term integrity of the programme
- continue to meet the licencing requirements as outlined within the MIIP Accredited Person Licence Application
- abide by their own professional bodies ethics and standards, and any revocation of membership must be immediately reported to Identity Malta.
Identity Malta Accreditation – Marketing
The Identity Malta Accreditation process also provides detailed rules for the promotion and marketing of the programme. These rules ensure highest levels of probity, seriousness and accountability.
The Accredited person shall only advertise, publish or disseminate publicly any information relating to the programme, as defined in the Regulations, in strict compliance with the guidelines that may be issued from time to time by Identity Malta Agency.
These rules include
- Referring to the Programme as the Individual Investor Programme of the Republic of Malta (Malta IIP or MIIP)
- Referring to the contribution to the National Development and Social Fund as the ‘Contribution’
- Referring to the investment requirement in, amongst others, stocks, bonds, debentures, special purpose vehicles or other investments as the ‘Investment’
- Placing a live link to the official www.iip.identitymalta.com on any Accredited Person website
- Using data in respect of the MIIP only from official sources such as Identity Malta’s website.