EU Court Declares Malta's Golden Passport Scheme Illegal

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EU Court Declares Malta's Golden Passport Scheme Illegal

7 months ago

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REUTERS

INDIATIMES

THELOCAL

LEMONDE

SCMP

BBC

EU Court Declares Malta's Golden Passport Scheme Illegal

Credited from: LEMONDE

The EU Court of Justice ruled Malta's golden passport scheme violates EU laws.
The scheme allows wealthy foreigners to acquire citizenship through investments.
Malta could face significant fines if it fails to comply with the court's ruling.
The ruling affects the EU’s principles of citizenship acquisition and mutual trust.

The European Court of Justice has declared that Malta's golden passport scheme, which enables wealthy foreigners to acquire citizenship in exchange for financial investments, is illegal under EU law. This ruling emphasizes that "the acquisition of Union citizenship cannot result from a commercial transaction," highlighting the scheme's infringement on established EU standards for nationality, according to Reuters, India Times, and The Local.

The court’s judgment came after a legal challenge initiated by the European Commission in 2022, asserting that Malta's program compromised the principle of sincere cooperation among EU member states. The court stated that Malta "jeopardises the mutual trust between member states concerning the grant of their nationality," thus necessitating compliance to avoid hefty fines, as remarked in Le Monde and South China Morning Post.

BBC and Reuters.