Malta's Golden Passport Scheme Illegal, Rules EU Court
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The EU's Court of Justice ruled that Malta's "golden passport" scheme, allowing citizenship for financial investment (€600,000+), violates EU law. The court deemed the scheme a "commercial transaction," jeopardizing mutual trust between member states. Malta, which suspended the scheme for Russians and Belarusians in 2022, faces potential fines for non-compliance. Former Prime Minister Joseph Muscat called the ruling "political", suggesting possible modifications to the scheme. The EU has long criticized such schemes for security risks and potential for financial crimes.
The EU's Court of Justice ruled that Malta's "golden passport" scheme, allowing citizenship for financial investment (€600,000+), violates EU law. The court deemed the scheme a "commercial transaction," jeopardizing mutual trust between member states. Malta, which suspended the scheme for Russians and Belarusians in 2022, faces potential fines for non-compliance. Former Prime Minister Joseph Muscat called the ruling "political", suggesting possible modifications to the scheme. The EU has long criticized such schemes for security risks and potential for financial crimes.
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