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Malta to sell citizenships for 650K euros apiece


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Posted

Malta to sell citizenships for 650K euros apiece

Prime minister expects citizenship sale will bring in 30M euros

Nov 13, 2013 3:12 PM ET Last Updated: Nov 13, 2013 4:55 PM ET

Malta's Parliament has voted to sell its citizenship for 650,000 euros ($915,590 Cdn), granting buyers a coveted passport that allows them into the 28-nation European Union.
The plan approved Wednesday is expected to go into effect within a few weeks. Prime Minister Joseph Muscat predicts it will bring in 30 million euros ($42.3 million Cdn) annually and help ease the country's deficit.
Lawmakers from the opposition Nationalist Party opposed the move and vowed to repeal the law and revoke all the citizenships sold if their party returns to power.
-- CBC News 2013-11-13
Posted

Lawmakers from the opposition Nationalist Party opposed the move and vowed to repeal the law and revoke all the citizenships sold if their party returns to power.

With a full refund?

  • Like 1
Posted

Cue lots of Russians buying up that island's real estate with laundered money.

They should be ashamed of themselves, and to think the song was "Selling England by the pound".....

Posted

I think there won't be a flood of applications from Thailand. Apparently, the Maltese government expects to get EUR 30 million next year from this passport selling scheme.

Prime Minister Joseph Muscat's government this week said the Individual Investor Programme (IIP) will reap €30 million next year by selling Maltese citizenship at €650,000 to applicants - but this falls to an average €185,000 per passport if a family of five acquires citizenship.

Source: http://www.maltatoday.com.mt/en/newsdetails/news/national/Names-of-those-who-buy-Maltese-citizenship-will-not-be-published-20131014

Posted

Looks like they spoke to Thaksin already and got the idea from the Thailand Elite Card. And the opposition party are going to throw it all out. Sounds familiar and sounds a bad investment.

Posted

Quote

" Malta's Parliament has voted to sell its citizenship for 650,000 euros ($915,590 Cdn), granting buyers a coveted passport that allows them into the 28-nation European Union.

The plan approved Wednesday is expected to go into effect within a few weeks. Prime Minister Joseph Muscat predicts it will bring in 30 million euros ($42.3 million Cdn) annually and help ease the country's deficit."
so this is 50 people they are looking for ?
at least they are not thinking that 1000s will be lining up :)

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