Malta’s golden passport scheme has been deemed unlawful by the European Union’s top court, ruling that it contradicts EU law. The scheme, which offered citizenship in exchange for a €600,000 investment, was challenged by the EU Commission in 2022. The Court of Justice found that granting nationality solely based on financial transactions undermines “mutual trust” between member states.
Malta’s government has yet to respond to the ruling, with former Prime Minister Joseph Muscat calling it “political.” However, the country risks significant fines if it fails to comply. In 2022, Malta suspended the scheme for Russian and Belarusian nationals in response to Russia’s invasion and Europe’s crackdown on Kremlin-linked individuals.
The EU has long warned about the security risks associated with investor citizenship schemes, including money laundering, tax evasion, and corruption. The court’s ruling marks a significant shift in the European approach to nationality laws, with each member state still determining their own rules for granting citizenship.
Source: https://www.bbc.com/news/articles/ceqrd8dpzd5o