Issue link: https://maltatoday.uberflip.com/i/1021976
8 maltatoday | SUNDAY • 2 SEPTEMBER 2018 NEWS Rural Development Programme for Malta 2014-2020 Part financed by the European Union Co-financing Rate: 75% European Union; 25% Government of Malta The European Agricultural Fund for Rural Development: Europe investing in rural areas European Agricultural Fund for Rural Development 2014-2020 PRE - ANNOUNCEMENT Measure 4.2: Support for investments in processing/marketing and/or development of agricultural products Measure 6.4: Support for investments in creation and development of non-agricultural activities The Director General of the Funds and Programmes Division, within the Parliamentary Secretariat for European Funds and Social Dialogue announces the pre-launch of two new schemes under the Rural Development Programme. Measure 4.2 'Support for investments in processing/marketing and/or development of agricultural products' has the aim to support farmers and processors in adding value to primary products or in developing new products, and/or opening up new markets. Farmers and other businesses and entities active in the agricultural and processing sectors are eligible for support under this measure. Beneficiaries will receive 50% of the total eligible project costs. Projects must result in a benefit to the local agricultural sector. The other scheme, measure 6.4 'Support for investments in creation and development of non-agricultural activities ' has the objective to stimulate the rural business environment, to contribute to an increased number of non-agricultural activities carried-out in rural areas as well as to develop existing non-agricultural activities, create jobs, increase the income of the rural population and alleviate rural-urban disparities. Beneficiaries will receive 50% of the total eligible project costs. Support under the latter measure is targeted to farmers, farm family members and other rural entrepreneurs intending to diversify their main economic activity or to start a new economic activity by investing in non-agricultural activities with the aim to increase their income and to create occupational alternatives. The indicative budgets for measures 4.2 and 6.4 are €4.7 million and €7.7 million respectively. This will bring the total budget allocation for issued calls under the RDP €95 million. This investment is key to the government's mission to facilitate better quality and sustainability in the local agricultural sector. Applications will open on 1 st November 2018; further details on the application process will be published in due course on the Managing Authority website www.eufunds.gov.mt. Any interested applicants are invited to register their interest via e-mail on rdd.meae@gov.mt, indicating the measure/s they are interested in. The MA shall invite registered interested applicants for an information session to be held at a later date. Measure 4.4: Support for non-productive investments linked to the achievement of agri-environment-climate objectives The Managing Authority would like to notify that Measure 4.4 will close on the 11 th September 2018. Unless otherwise notified, no applications will be accepted after this date. More information can be found on www.eufunds.gov.mt and www.eufundsmalta.gov.mt or email to rdd.meaim@gov.mt MATTHEW VELLA THE former chief officer for risk and compliance of Malta's citizenship-by- investment programme has exited the agency to start an innovative online platform for the multi-mil- lionaires seeking a second passport. Yakof Agius is an IT and risk specialist who spent the bulk of his career with HSBC Malta, be- fore joining Hen- ley & Partners as managing part- ner and head of human resources at the start of the IIP in 2014, and then spending a year with the Malta IIP Agen- cy as chief office risk and compliance up until 2018. Agius passed through the revolving door by devising an online platform that will compare the providers of citizenship-by-investment programmes. His CiviQuo plat- form is billed to be a dis- ruptive force that will create a level- playing field among service providers, by bringing to- gether the largest selection of citizenship programmes, agents and intermediaries. Clients will be able to search and compare pro- gramme features and costs, agents' fees and rat- ings. CiviQuo will be ask- ing the agents that feature on the website to disclose the professional fee they will be charging – a tiered subscription starts from €7,000 per annum. "This is done so that clients know upfront exactly how much everything will cost," the firm says. "CiviQuo will take care of the lead gener- ation and conversion, simi- lar to what b o o k i n g . com does for the travel in- dustry." Former IIP executive sets up 'booking.com' for passport hunters Out through the revolving door: former Malta IIP chief officer for risk and compliance Yakof Agius has launched the CiviQuo platform MATTHEW VELLA THE agency that oversees the sale of citizenship to the global elite has told Malta- Today it is carrying out a due diligence investigation on the sources of wealth declared by the multi-millionaires aspir- ing for a Maltese passport. Malta's Individual Inves- tor Programme has gener- ated over €680 million for the government's posterity fund, as well as an additional €170 million in property invest- ments. So far, with a 24% rejection rate to date, it has seen 800 primary applicants (and their families) approved for the Maltese passport since 2014. "85% of our work today is due diligence," says IIP chief Jonathan Cardona at news that the European Commis- sion will be issuing recom- mendations to EU member states that are selling citizen- ship – namely Austria, Cy- prus, Greece, Hungary, Lat- via, Lithuania and Portugal. Vera Jourova, the EU's com- missioner for justice, told the Financial Times that citizen- ship-for-sale schemes in eight member states will come un- der scrutiny as part of a wider drive against money launder- ing and corruption. She also alluded to wor- ries about the origins of the wealth of Russian applicants for Maltese citizenship – saying that "in cases of any doubt" such people should not have the privilege of citi- zenship. While the Commission has no power to ban such the sale of citizenship, the recom- mendations will probably be used as tool to inform public opinion of the weaknesses of certain citizenship-by-invest- ment schemes. And while Jourova singles out Malta, EU member states like Greece have issued 8,367 golden visas since 2013 to main applicants and 12,089 to their dependents. While the Chinese are inching ever closer to an absolute majority among applicants, Russians make up close to 15%, and Turks more than one in ten. Iranians – banned from ap- plying for the Maltese pass- port under the IIP – are also Passport boss says Malta verifying all sources of millionaires' wealth