The Times of Malta reports that figures released by the National Statistics Office of Malta today reveal that the country’s Individual Investor Programme accounted for €163.5 million in state revenues last year, allowing the government to record a budget surplus of €112.9 million for 2016, or 1.1% of GDP.
The Malta Individual Investor Programme (MIIP) thus constituted the difference between a moderate deficit and a substantial surplus, leaving the government’s Consolidated Fund – effectively the Maltese state’s main bank account – with a positive balance of €8.9 million.
The €112.9 million fiscal surplus of 2016 compares favorably to the €104.1 million deficit (about 1% of GDP) recorded in the previous year.
Under the MIIP, 70% of the money contributed by investing applicants – 650,000 for a single applicant – are accumulated in the National Development and Social Fund.
While citizenship by investment is a significant contributing factor to Malta’s Mediterranean Tiger economy, it pales in comparison to the critically important role it plays in other CIP-countries.
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Christian Henrik Nesheim is the founder and editor of Investment Migration Insider, the #1 magazine – online or offline – for residency and citizenship by investment. He is an internationally recognized expert, speaker, documentary producer, and writer on the subject of investment migration, whose work is cited in the Economist, Bloomberg, Fortune, Forbes, Newsweek, and Business Insider. Norwegian by birth, Christian has spent the last 14 years in the United States, China, and Spain.