The Government’s citizenship programme is aimed at attracting talent to Malta, Prime Minister Joseph Muscat said today.
Speaking in London at The Malta Individual Investor Programme, the Prime Minister said the Government’s focus was on the attraction of extremely highly talented and networked people from around the world by offering them the possibility of sharing the Maltese and European journey.
Maltese Citizenship, he said, was an ongoing exchange between the Maltese and their country, the relationship of building together a nation making something unique and special.
“Despite being such a small nation, our pride in our work, our willingness to support charities and volunteer our time in NGOs shows me that for us as nation, citizenship is not a transaction but a relationship.
“This relationship is a collective one. It means being able to rely on each other in difficult times and being there to celebrate the good times together. It means making individual sacrifices for the greater good, and knowing that no matter what happens there is a safety net – Maltese society that will always help you get back on your feet.”
To achieve the improvements the Government aimed for in a timely way, it could either burden taxpayers with more taxes, increase borrowing or attract the world’s best talent.
“The answer for me as Prime Minister is obvious.”
Dr Muscat said that Malta’s ability to attract investment not only financially but in knowledge, expertise and networks would open a new approach that would complement existing programmes and go beyond.
“The offer and acceptance of Maltese citizenship reflects the most substantial investment of the most precious and limited commodity that any of us has – time. The time that new Maltese citizens will share with their new-found home will allow us to build together a stronger and more prosperous nation. Our gift to each other will be the willingness to share our paths.”
The programme, he said, was aimed squarely at importing more of what was truly precious to the Maltese.
“We know that it will help us consolidate and build upon what we have and at the same time open new opportunities to us and future generations. My government recognises that more than any other resource, this is the one thing that we cannot have enough of, and we realise that all things being equal, this talent will be pivotal in the success of our nation.”
He said that too much time was wasted in the past in tinkering with existing programmes in the hope that somehow, eventually, the answer would present itself.
“My Government is ready to innovate and committed to delivery. With the Malta Individual Investor Programme, we will bring our Citizenship laws into the 21st century, placing us at the forefront globally of citizenship by investment programmes. We will lead in Europe by offering the most straightforward access to High Net Worth Individuals who seek a better way of life.”
The Government, he said, established and would execute the most rigorous due diligence of any programme worldwide. No stone would be left unturned in the scrutiny of any applicant prior to admission.
Dr Muscat said the time is right for Malta to take this bold step forward to ensure that a lasting legacy was created for future generations.
“We are confident that this is the right thing to do for Malta. We will attract the right people to create more prosperity for Maltese society.
“The process of application will be thorough and not everyone will manage to successfully apply, but for those that do, the enduring relationship of citizenship by investment will be their reward. This relationship as with any other form of citizenship will come with it the expectation that they continue to contribute to the common good of Maltese society, that they help with any challenge that we face in our future, and that they share in our successes as a nation,” he said.