Malta Citizenship by Investment Program Shut Down by EU Court
The European Court of Justice (ECJ) has officially ruled that Malta must shut down its Citizenship by Investment program—commonly known as the "golden passport" scheme. The move ends a decade-long system that allowed wealthy foreigners to buy EU citizenship through Maltese nationality.
What Was the Malta Citizenship Program?
Launched in 2013, the program allowed individuals to acquire Maltese citizenship by:
* Investing in real estate
* Donating to the national development fund
* Contributing to local organizations
In return, applicants received an EU passport with visa-free access to over 180 countries.
Why Did the EU Shut It Down?
The ECJ determined the scheme violated EU law by:
* Offering citizenship without a real connection to Malta
* Undermining mutual trust among EU states
* Opening the door to corruption and security risks
This ruling follows similar program closures in Cyprus and Bulgaria due to EU pressure.
What Happens Next?
While Malta has agreed to comply, the government signaled it may propose a revised citizenship model in the future. However, any new program would face heavy legal and political scrutiny from the EU.
Key Takeaways
EU Court Ruling: Declared the program illegal under EU law.
Financial Impact: Over €1.4 billion was generated since 2013.
Future Outlook: Malta may redesign the program, but future efforts will be closely watched.
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