Malta: Stop Granting "Golden Visas" as Decided by European Court
The Old European Passport Racket: It's Adiós to Malta's "Golden Passport" Scheme! 🇲🇹🔥
The European Court of Justice (ECJ) just dealt a heavy blow to Malta's "golden passport" scheme, declaring it unlawful under European Union (EU) laws! 😠🌟
According to Financial Times, the ECJ ruled that Malta can't hand out citizenship in exchange for cold, hard cash or investments, making it a simple, commercial deal. Check the court's ruling: "The state cannot provide citizenship - and essentially European citizenship - in exchange for predetermined payments or investments, as this turns the acquisition of citizenship into a simple commercial transaction," the court said. 💰📜
Back in 2023, the European Commission took Malta to court over its investment-based citizenship program. Brussels argued that selling passports undermines "the essence of EU citizenship," which is based on mutual trust between member states. The golden passport holders have the right to live, work, and vote in any EU country. 🤝🇪🇺
Pressured by Brussels, Bulgaria and Cyprus had already scrapped their golden passport programs. However, Malta refused to back down, tightening its conditions instead, saying citizenship can only be obtained after one to three years as a resident. The EU views such schemes as potential hotbeds for corruption, money laundering, and tax evasion. 💸🔫
Seventy-five Russians, including Yandex founder Arkady Volozh, LSR founder Georgiy Vedernikov, and former CEO of energy retailer Rusetenergosbyt Andrey Zinoviev, were among the Maltese citizenship recipients. In March 2022, Malta suspended the issuance of golden passports to Russians and Belarusians. 🇷🇺🛑
But now the golden shoe is on the other foot! This ruling marks a significant milestone in EU membership and will likely force more states to rethink their citizenship approaches. It's a win for the EU, a win for mutual trust, and a win for the integrity of EU citizenship. 🥳💖
Behind-the-Scenes
The European Court of Justice's ruling against Malta's "golden passport" scheme has far-reaching consequences:
Legal Framework
The court strengthened EU citizenship as a fundamental status and not a commodity, clarifying that nationality cannot be treated as a transactional asset. This ruling upholds mutual trust and sincere cooperation within the EU.
Member States
States must now ensure programs align with EU law, establish genuine connections with applicants, enforce strict regulations, and pay legal fees if they violate EU rules.
Applicants
Existing beneficiaries could face scrutiny for compliance with the "genuine links" criteria, and wealthy individuals must explore alternative options.
Broader Context
This ruling is part of the EU's efforts to curb money laundering and elite capture risks connected to investor citizenship. It also prepares for potential geopolitical abuses like circumventing sanctions through purchased EU passports and sparking global debates on "golden visa" ethics, including proposals in the U.S. for similar programs.
- The European Court of Justice's ruling in 2023 against Malta's "golden passport" scheme has significantly undermined the scheme, declaring it unlawful under EU laws.
- The court stated that Malta cannot provide citizenship in exchange for investments or payments, as this turns the acquisition of citizenship into a simple commercial transaction.
- This ruling marks a win for the EU, ensuring that EU citizenship is maintained as a fundamental status and not a commodity, upholding mutual trust and sincere cooperation within the EU.
- States, applicants, and potential beneficiaries must now ensure compliance with the ruling, implementing genuine connections with applicants, enforcing strict regulations, and exploring alternative options, respectively.
