Due diligence

What the regulations require

The Agency administers the due diligence and eligibility verification of the main applicant and every dependant (regulation 14(1)). It must also have checks performed by third parties, including one or more internationally recognised specialised due-diligence providers, and may include security checks by law-enforcement authorities and anti-money-laundering and terrorism-financing checks by the competent authorities (regulation 14(2)). The Agency informs the Approvals Board of its findings and seeks its authorisation before issuing a certificate (regulation 14(3)). [Government of Malta — Subsidiary Legislation under the Immigration Act (Cap. 217)]

Layers of verification (how the Agency describes it)

The Agency describes a "rigorous, multi-tiered due diligence process" whose checks are "thorough and exhaustive, and are conducted on all individuals included in the application, extending to donors, benefactors and business associates". In practice this combines: the licensed agent's own know-your-customer checks submitted with the application; the Agency's document verification; independent international due-diligence reports; and law-enforcement and sanctions screening.

Confidentiality

All information obtained through the due-diligence process and its sources is kept secret (regulation 22). Data-protection rights may be restricted in specific circumstances, only where an application is refused or a certificate revoked, under the safeguards in regulation 20.

Grounds for refusal

Regulation 13 lists the disqualifying circumstances (see Fit and proper). False statements or omissions are, on their own, sufficient grounds to decline the application (regulation 12(6)). Decisions are at the Agency's absolute discretion and not subject to appeal (regulation 19(1)).

Protected disclosures

Any person may make a protected disclosure to the Agency about bribery, corrupt practices or improper practice by an applicant, dependant or agent (regulation 23).