Malta's golden passport scheme breaks EU law, top court rules
Summary
The European Union's highest court has decided that Malta's golden passport program, which gives foreign investors citizenship in return for finance and property investments, breaks EU law. Malta could face large fines if it does not comply with the judgment.Key Facts
- Malta has a golden passport program that allows foreigners to become citizens if they make substantial financial and property investments.
- The European Union's Court of Justice has ruled this program is against EU law.
- Those who invest at least €600,000, buy or rent property of a certain value, and donate €10,000 to charity can receive a Maltese passport.
- This passport allows them to live and work in any EU country.
- The Maltese government hasn't yet responded to the judgment.
- Former Prime Minister Joseph Muscat said the scheme could continue with "some changes."
- If Malta does not follow the judgment, it could face large fines.
- In 2022, Malta stopped the scheme for Russian and Belarusian nationals because of Russia's invasion and Europe's actions against individuals linked to the Kremlin.
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