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IM Yearbook 2020/21

Born from the need for a global, credible, “go-to” publication, the 3rd IM Yearbook offers valuable access to a prime target audience of top industry influencers, decision makers, and the foremost referral network to the world’s most influential Investment Migration programmes: Government officials such as Heads of CIU’s, policy makers, academics, migration agents, law firms, wealth managers, financial advisors, real estate developers, and international firms involved in investment migration.

Born from the need for a global, credible, “go-to” publication, the 3rd IM Yearbook offers valuable access to a prime target audience of top industry influencers, decision makers, and the foremost referral network to the world’s most influential Investment Migration programmes: Government officials such as Heads of CIU’s, policy makers, academics, migration agents, law firms, wealth managers, financial advisors, real estate developers, and international firms involved in investment migration.

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LESSONS FROM<br />

LOCKDOWN<br />

MRVA SEES PRODUCTIVITY SURGE DURING COVID-19 CRISIS<br />

Charles Mizzi, Chief Executive Officer of the Malta Residency<br />

Visa Agency (MRVA), explains how the Agency operated<br />

during the Covid-19 outbreak. He says rather than paralysing<br />

productivity, the MRVA processed a record number of<br />

applications while reducing a backlog of pending files.<br />

62<br />

The coronavirus outbreak was fast<br />

and unprecedented. As Malta’s<br />

authorities worked relentlessly<br />

to put into place a series of mitigation<br />

measures to strictly control the pandemic,<br />

the MRVA rapidly set in motion a<br />

business continuity plan. This had two<br />

aims: firstly, to protect employees and<br />

their families, and secondly, to ensure<br />

that the quality service we gave agents<br />

and clients remained constant, of a<br />

high standard, and uninterrupted.<br />

Swift Change to Remote Working<br />

With secure technology readily at<br />

hand, the majority of employees<br />

worked remotely, with skeleton staff<br />

remaining physically in the office. Like<br />

with many other workplaces, this was<br />

a first for us. But I must say it was a<br />

positive experience, as not only was<br />

performance maintained, but in some<br />

cases, it even superseded expectations,<br />

mitigating the potential impact on<br />

our operations while safeguarding the<br />

team. Even the momentum of staff<br />

training – which I strongly believe<br />

in and push – was maintained as<br />

courses and seminars went online.<br />

With this comfort, the Agency<br />

went ahead with its file processing<br />

and its four-tier due diligence work as<br />

usual, revising operational procedures<br />

where necessary to adapt to remote<br />

working and re-distributing work flows<br />

accordingly, without compromising on<br />

our standards and quality benchmarks.<br />

Submission of applications via our<br />

accredited agents continued, and<br />

letters of approvals as well as residence<br />

certificates were issued normally.<br />

The only area where Covid-19 had<br />

an impact on the Malta Residence and<br />

Visa Programme - the MRVP - is where<br />

agents had difficulties in reaching<br />

out to applicants in order to prepare<br />

applications and documentation or<br />

to seek clarifications. We understood<br />

this challenge and supported<br />

applicants coming from affected<br />

regions by suspending deadlines<br />

Investment Migration <strong>Yearbook</strong> 2O2O/2O<strong>21</strong><br />

on response times. We understand<br />

this was greatly appreciated.<br />

Appointments for the taking of<br />

biometrics were also stalled because<br />

potential beneficiaries of Maltese second<br />

residency could not fly into the country<br />

for the taking of biometric data.<br />

Productivity Rise<br />

In the meantime, we processed more<br />

applications than ever, successfully<br />

addressing a backlog of pending<br />

files and significantly bringing down<br />

waiting time. Indeed, our output this<br />

year has already surpassed that of 2019.<br />

We achieved this by investing heavily<br />

in an operational rehaul involving<br />

recruitment, training and outsourcing.<br />

This figure is set to increase further<br />

as we continue putting into place<br />

measures that improve our efficiencies.<br />

Our turnaround time for applications<br />

has also hit the five-month mark, from<br />

submission of a complete and correct file.<br />

We also worked against all odds and<br />

moved into new offices. We overcame<br />

issues of disrupted supply chains<br />

and delivery dates flying out of the<br />

window, to move in and immediately<br />

start giving a superior service to<br />

agents from brand new premises.<br />

I must say we are proud of the<br />

fact that, unlike other competitor<br />

programmes, some of which even closed<br />

their doors completely, the MRVA<br />

maintained its quality service offering,<br />

while making sure all health measures<br />

were taken to safeguard the team.<br />

New Modes of Working<br />

Our aim at MRVA is to sustain a<br />

competitive programme in terms of<br />

benefits offered to applicants as well<br />

as to increase efficiencies without<br />

compromising the rigorous due diligence<br />

that applications undergo. Our swift<br />

adaptation to new modes of working<br />

meant we could continue meeting<br />

our targets. We are now continuing<br />

investing in IT in order to facilitate online<br />

application submission, which will<br />

further contribute to us going digital and<br />

help maintain our productivity gains.<br />

As we still contend with the effects<br />

of Covid-19, we are optimistic that, like<br />

most businesses in Malta, the MRVP<br />

will rise to the current challenges<br />

and continue to be the popular<br />

programme it is, attracting important<br />

foreign direct investment to Malta.<br />

While offering families from third<br />

countries a chance at a second residency<br />

and another world of possibilities in<br />

a safe and stable country, the ultimate<br />

aim is that funds generated by the Malta<br />

Residence and Visa Programme are<br />

channelled towards Malta’s consolidated<br />

fund with direct benefits to our citizens.<br />

Charles Mizzi was<br />

BIO appointed Chief Executive<br />

Officer of the Malta<br />

Residency Visa Agency in February<br />

2019. He began his career in the<br />

banking sector and worked with<br />

a number of local banks, where<br />

he occupied several roles in the<br />

marketing department. In October<br />

2014, he became Executive<br />

Director Media and Marketing<br />

of the Maltese Presidency for<br />

the European Council. In 2017,<br />

he joined the Individual Investor<br />

Programme Agency as Chief<br />

Officer for Communications and<br />

Business Development, garnering<br />

important experience in the sector.

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