EU top court rules Malta’s ‘golden passport’ scheme illegal
Malta’s fast-track naturalization scheme for foreign investors violates EU law, the bloc’s top court has ruled. It said granting citizenship for investments makes naturalization “a mere commercial transaction.”
Malta’s fast-track naturalization scheme for foreign investors violates EU law, the bloc’s top court has ruled. It said granting citizenship for investments makes naturalization “a mere commercial transaction.”
European Court of Justice ruled that Malta’s “golden passport” program violates EU Law
The European Court of Justice (ECJ), the EU’s highest court in Luxembourg, on Tuesday ordered Malta to end its “golden passport” program, saying it violates European Union law.
“A Member State cannot grant its nationality — and indeed European citizenship — in exchange for predetermined payments or investments,” the court wrote in a news release.
“This essentially amounts to rendering the acquisition of nationality a mere commercial transaction,” it added.
A Maltese law that fast-tracks the naturalization of foreign investors has long been criticized by anti-corruption advocates and EU officials for facilitating white-collar crime and sanctions evasion.
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