NBLO is a Bulgarian law firm, but in our experience in the field of citizenship by investment over the years, we have learnt of other European programmes in addition to the Bulgarian one. While we do not advise on these, we wish to offer clients all options which we feel comfortable are suited to their circumstances and are perhaps complementary to Bulgaria’s. Where clients wish to explore these, we can recommend firms and advisors in the relevant jurisdictions.
We share here details on the Maltese Individual Investor Programme (MIIP).
MIIP was introduced by the Government of Malta in 2014. This programme targets high to ultra-high net worth individuals and their families.
To be eligible, an Investor must
Benefits of obtaining a Maltese passport:
The application process to acquire Maltese Citizenship is perceived as thorough and takes approximately 12 months to complete. It starts with the submission of an e-Residence Application and ends with the issuance of a certification of naturalisation. Throughout the process, due diligence team reviews carefully all aspects of the application.
The names of all new citizens (irrespective of the basis for naturalization) are published by the Maltese Government once a year.
The programme does not accept applications from nationals of the following countries (as at 03/01/2020):
The MIIP in its present form will be available to investors until the 30st of July. For more information, please see: https://iip.gov.mt/https://iip.gov.mt/
A separate residence programme is the Maltese Residence and Visa Programme (MRVP), introduced in 2015. This gives successful applicants the right to stay in Malta indefinitely. The requirements include all of the following:
For more information, please contact us at email@example.com and we will gladly answer any question you may have.
Advising on an LCIA claim
Suppliers with less bargaining power sometimes accede to arbitration clauses which make bringing or defending a claim prohibitively expensive.
In such cases, it is especially important when acting for the potential claimant (and subject to a judgement on the overall viability of the claim), to offer a cost-effective solution to allow the claim to get off the ground. This may include assessing whether the arbitration clause is likely to be found effective or pathological, and whether it may be permissible and advisable to launch court proceedings instead (which can be more economical especially in their early phases).
It is also helpful to be able to rely on advice which is simultaneously excellent in relation to both the jurisdiction in which enforcement is likely to be sought (e.g., Bulgaria) and the jurisdiction whose governing law the parties have agreed to apply or which applies for another reason.
NBLO recently acted for a potential claimant in such a situation alongside the client's existing Bulgarian counsel to advise on the interplay of the arbitration rules of the London Court of International Arbitration (LCIA) and Bulgarian law and on the mechanics and prospects of a claim. We regularly and successfully collaborate with clients’ existing counsel to achieve the best results for such clients.
© New Balkans Law Office 2020