Parliament of Malta approves decision
Tuesday, 12 November the Parliament of Malta adopted the bill on selling the country's citizenship to foreigners (non-EU citizens) for €650 thousand, Lenta.ru reports.
According to the Prime Minister of Malta Joseph Muscat, the innovation will help replenish the budget, as well as attract potential investors into the island’s economy. Mr. Muscat’s estimates indicate that in the first year of the new citizenship scheme the state budget will receive about € 30 million (assuming that some 45 people will buy citizenship). In future 200 to 300 persons will buy Maltese citizenship annually.
Maltese authorities promise to scrutinize to thoroughly check submitted purchase applications, including for possible links with organized crime. Should any violations be detected, the citizenship application will be rejected.
