EU Passports for 650,000 Euros: Citizenship for Sale in Malta [View all]

[unhappycamper]

http://www.spiegel.de/international/europe/malta-passes-bill-giving-citizenship-to-foreigners-for-payment-a-933360.html



Protesters in Valetta express their opposition to a new law that allows foreigners to buy Maltese passports.

EU Passports for 650,000 Euros: Citizenship for Sale in Malta
November 13, 2013 – 01:23 PM

Non-European Union citizens with €650,000 ($873,000) to spare can now buy Maltese citizenship thanks to a new plan approved by the Mediterranean island's parliament on Tuesday.

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The government said applicants would be carefully screened to avoid entry by criminals. Muscat estimated that about 45 new citizens would bring in some €30 million a year. Henley and Partners, the company that will process newcomers' paperwork, said it expects to receive between 200 and 300 applications per year.

As a member of the European Union, Malta is also part of the Schengen Area, where EU citizens can travel freely without visa controls. The decision to sell this right has been roundly criticized by the Maltese opposition, particularly because applicants do not have to be residents, and are also not required to invest on the island.

The country's conservative Nationalist Party fears that the law could lead to comparisons with Caribbean tax havens, and did not rule out trying to hold a referendum on the controversial matter, according to the Malta Today. In a poll conducted by the paper, a majority of respondents said they did not support selling EU citizenship.