Malta's passport scheme, which allows individuals to obtain Maltese citizenship in exchange for financial investments, was recently found to be contrary to European Union law by the Court of Justice of the EU. This decision marks a major turning point in the field of investment-based immigration and could have far-reaching repercussions for similar schemes across Europe.
What is the Malta Citizenship Programme?
Malta's Citizenship by Investment scheme allows foreign investors to become citizens of Malta by making substantial investments. This includes the purchase or lease of property, as well as donations to charities. In return, participants benefit from access to the European Union, with the ability to live, work and travel freely in the Member States.
However, this programme has long been criticised for its potential to compromise security and transparency, as well as for the perceived sale of European citizenship.
Why the Decision of the Court of Justice of the EU?
The Court of Justice of the European Union has ruled that citizenship cannot be granted solely on the basis of a financial investment without establishing genuine links to the country. European citizenship, which derives from the citizenship of a member state, confers important rights and privileges, which justifies strict regulation.
This decision also reflects the EU's concerns regarding the risks of money laundering, tax fraud, and security associated with these programmes.
Impact on Investors and Similar Programs
- For Investors :
Individuals considering investing in similar programmes will now need to carefully assess their options. Programmes offering only economic benefits may be subject to increased scrutiny or be suspended. - For Other European Programmes:
Countries such as Cyprus, Greece, and Portugal offer residency programmes that can lead to citizenship in the long term. Although these programmes differ in their requirements, they could also be revised to comply with this new European standard. - The Advantages of Residence :
However, European investment residences remain in line with EU standards as investors establish real connections with the country, such as property investments, business creations, or contributions to the local economy.
Alternative Solutions with CBIM Solutions
At CBIM Solutions, we understand the challenges faced by investors in an evolving regulatory landscape. We offer alternative and reliable solutions to help our clients achieve their immigration and investment goals, while complying with local and international regulations.
Our services include:
- Residence Programmes: We offer options in countries such as Canada, Greece, Portugal, and the United States, which emphasise sustainable investments and meaningful connections with the local community.
- Legal and Financial Advice: Through our partnerships with legal and financial firms, we ensure that your investments are secure and compliant with current laws.
- Personalised Assistance: From document translation to the creation of tailor-made itineraries, we support you at every step of the process.
Conclusion
The EU's decision regarding Malta's passport programme sends a clear message: citizenship cannot simply be bought, but must reflect real and meaningful ties to a country. For investors, it is essential to adapt to these new realities by exploring residency and citizenship options that respect these principles.
At CBIM Solutions, we are here to guide you through these changes and help you achieve your immigration aspirations with confidence. Contact us today to learn more about our services and discover the best options available to you.