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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