MALTA WELCOMES MULTI- MILLIONAIRES

MONEY BUYS MOVEMENT: COST OF GETTING A NEW SCHEME PASSPORT The scheme is being managed by a Jersey-based company, Henley and Partners which has an exclusive 10-year deal with the Maltese Government. On its website the company says applicants will be subject to strict vetting and 'only highly respectable clients will be admitted'. The firm receives a commission of four per cent of the investment made by each main applicant. Applicants must pay out: a €650,000 payment to a new economic development fund €150,000 investment in government bonds. Applicants must also spend at least €350,000 on a property to be kept for at least five years. A further contribution of €25,000 is payable for the spouse and young children of the applicant, rising to €50,000 for adult children and the grandparents of each spouse. As well as receiving its commission, H&P will charge client fees of €70,000 per main applicant, plus an additional €10,000 to €15,000 per spouse or dependant. Read more: http://www.dailymail.co.uk/news/article-2563695/Hundreds-foreign-millionaires-apply-Maltese-passports-right-live-Britain-claim-benefits.html#ixzz2tsNoNe35