Latitude’s CEO, Eric Major, believes that restricting the number of successful applicants seeking to buy Maltese passports should be stopped, and that the programme should be reviewed every five years.
The Times of Malta reported:
“Launched in 2014, the IIP (Individual Investor Programme) had been capped at 1,800 applicants but the government recently announced its intention to extend the programme further and is inviting stakeholders to put forward their ideas.”
“Mr Major is proposing that the number of successful applicants should be left at the government’s discretion.”
Eric explained: “Whilst there is merit in ensuring a regular re-adjustment of the programme, as is currently undertaken, it need not be driven by the expiry of an application cap. Rather, the government should make it policy to review and adjust the programme every five years or so to ensure it remains fit for purpose.”
Eric also suggested an upward revision of the IIP contributions for family dependents; an annual gala event hosted by the Prime Minister in honour of the successful applicants in a bid to entice them to foster more business opportunities; and abolishing the requirement to purchase €150,000 in government bonds or stocks, which results in no real economic benefit.