Henley and Partner’s commission on the revenue from the Individual Investor Programme will be calculated on a higher amount; however the percentage would remain 4%.

During the Public Committee meeting, Nationalist MP Tonio Fenech noted that paid contribution on the agreement was amended to ‘paid-in contribution’, which has a more vague meaning. He said that whereas before the contribution was of €650,000, there is also the value of property and other investments that comes into play. He questioned whether Henley would take a larger percentage than 4%.

 It was previously reported that Henley are to be paid a 4% contribution on marketing and processing expenses. 6% would be paid to the government agency Identity Malta and the remaining 90% passed into the national development fund that will be created as an investment vehicle for the money received from the IIP.

Dr Bonnici said that one is being invited to invest money and contribute to economic growth and not to ‘buy’ citizenship.He said that the commission will not be calculated on all contributions, but rather on two out of three. He said he can’t specify which one these are, but stressed that ultimately, Malta will receive a higher amount.

Dr Mario De Marco remarked that if this is the case, ‘Henley’s are laughing all the way home’. Nationalist MP Claudio Grech said that the percentage for Henley and Partners should have been reduced and not increased, given the workload was cut down.

Dr Bonnici explained that in the first agreement, Henley and Partners had full exclusivity to the programme. Today, the individual investor approaches Identity Malta, and this he said, benefits the country more. He said that ultimately the take-home commission by Henley and Partner’s will be lower.

If Henley and Partners complete 1,800 investment programme in a stipulated period, the percentage of the commission will be increased to 5%.

The funds are being transferred into an account of Identity Malta.