Malta passport agents Henley also paid 4% when IIP citizen buys government stocks

Henley has been paid over €1 million as commission on the purchase of government stocks, apart from €5.8 million made over the past two years on passport sale

IIP citizens must spend €150,000 on government stocks apart from paying out €650,000 to buy a Maltese passport: Henley, the firm that created the IIP, gets a 4% commission on both items
IIP citizens must spend €150,000 on government stocks apart from paying out €650,000 to buy a Maltese passport: Henley, the firm that created the IIP, gets a 4% commission on both items

The concessionaires of Malta’s citizenship sale, Henley & Partners, are not just making money from the standard 4% they get paid on the €650,000 that main applicants pay for a Maltese passport.

According to the report by the regulator of the Individual Investor Programme, Henley are also being paid 4% every time applicants purchase the mandatory €150,000 in government stocks – the investment element of buying Maltese citizenship, together with a €350,000 property or annual €15,000 lease.

A PBS source who spoke to MaltaToday said that the point was raised during the recording of TVM’s Dissett by shadow justice minister Jason Azzopardi in a debate with justice and culture minister Owen Bonnici, which is to be aired tonight Wednesday.In terms of the agreement signed with Henley & Partners, the firm receives 4% of the investment, which is equivalent to €6,000 per main application.

In total since the launch of the IIP, over €26.7 million in stocks have been acquired, which leaves approximately just over €1 million in Henley’s pockets.

IIP agents have informed the IIP regulator that clients should be allowed to invest in corporate bonds and not be specifically obliged to invest in Malta Government Stocks.

Apart from this payment, when a main applicant pays the €650,000 fee, Henley gets 4% (€26,000), Identity Malta – the government office processing the applications – gets 6% (€39,000), while the remaining amount is distributed in the ratio of 70% to the National Development and Social Fund (€409,500), and 30% to the government’s consolidated fund (€175,500).


The contributions collected initially go into a suspense account and it is only after the oath of allegiance is taken that the distribution of funds is carried out.

Between June 2015-June 2016, the contributions collected by Identity Malta amounted to €166,550,000.

The total property purchases and rent, as well as investments and contributions, was €218 million.

Between the launching of the IIP until 30 June 2016, the national development fund received almost €55 million, while the government took €23.5 million for its consolidated fund. Henley has so far collected €5.8 million.

Some €134 million are inside the suspense account, yet to be disbursed.

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