In a landmark ruling, the EU's Court of Justice has declared that Malta's controversial golden passport scheme, which allows individuals to obtain citizenship through significant financial contributions, violates European law. This decision stems from a legal challenge by the EU Commission initiated in 2022, asserting that such programs reduce citizenship to a mere financial exchange. The scheme, offering passports in return for a minimum investment of €600,000 along with property rental or purchase and charitable donations, is now under scrutiny as Malta risks imposing substantial fines for non-compliance. Despite the ruling, some political leaders in Malta express confidence that modifications could maintain the scheme. This situation reflects broader tensions in the EU regarding investor citizenship plans, which have been flagged as potential conduits for security risks, money laundering, and corruption.
Malta's Golden Passport Scheme Deemed Unlawful by EU's Top Court
Malta's Golden Passport Scheme Deemed Unlawful by EU's Top Court
Malta faces repercussions as EU court rules its citizenship scheme breaches European law.
Malta's golden passport scheme breaches EU law, EU court ruling indicates significant legal and political repercussions for the nation. The European Commission and member states are addressing the broader implications of investor citizenship programs across the union.
The EU's top court has ruled that Malta's golden passport scheme, allowing citizenship through financial investment, contravenes EU law. Initiated by the Commission's 2022 challenge, the court emphasized that citizenship acquisition should not be merely commercial and stressed maintaining mutual trust between member states. Malta, facing potential fines for non-compliance, may seek to modify the scheme rather than abandon it. Critics highlight the inherent security risks associated with such programs, calling for a reevaluation across EU nations.
The EU's top court has ruled that Malta's golden passport scheme, allowing citizenship through financial investment, contravenes EU law. Initiated by the Commission's 2022 challenge, the court emphasized that citizenship acquisition should not be merely commercial and stressed maintaining mutual trust between member states. Malta, facing potential fines for non-compliance, may seek to modify the scheme rather than abandon it. Critics highlight the inherent security risks associated with such programs, calling for a reevaluation across EU nations.
