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Wednesday, November 13, 2013

Malta offers EU citizenship to anyone – with 650,000 euros

Malta approves selling citizenship for 650,000 euros to non-EU applicants, giving people work and residency rights in the 28-member bloc 


The Maltese parliament has approved selling citizenship of the Mediterranean island for 650,000 euros (£547,000) for each non-European Union applicant.
Joseph Muscat, the prime minister, said the programme was meant to bring in revenue to the country while attracting "high value" people who could potentially invest in the island.
He estimated the scheme would earn the government 30 million euros in its first year – meaning around 45 people would be sold citizenship, which would also give them work and residency rights in the rest of the 28-member bloc.
Malta is a member of the European Union, a member of the Schengen borderless travel area and has a visa waiver agreement with the United States.
Eric Major, the CEO of Henley and Partners, the international group that will administer the scheme, said that between 200 and 300 individuals were expected to apply every year.

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