Controversial 'golden passports' sold to rich foreigners banned by European Union's highest court

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Controversial 'golden passports' sold to rich foreigners banned by European Union's highest court

//travel-leisure.news-articles.net/content/2025/ .. rs-banned-by-european-union-s-highest-court.html

Published in Travel and Leisure on Tuesday, April 29th 2025 at 10:06 GMT by Fortune

Malta "cannot grant its nationality - and indeed European citizenship - in exchange for predetermined payments or investments," the court ruled.

The European Parliament has voted to ban controversial "golden passports" that grant citizenship to wealthy foreigners in exchange for investment, with Malta being the last EU country to offer such a program. These schemes, which have been criticized for enabling tax evasion, money laundering, and corruption, were previously offered by several EU nations but have been phased out following pressure from the European Commission. Malta's program, which has been a significant source of revenue, allowed investors to gain citizenship for a €650,000 investment or a €750,000 property purchase, but it will now be discontinued due to the EU's decision, reflecting broader efforts to combat financial crimes and uphold the integrity of EU citizenship.

Read the Full Fortune Article at:
[ https://fortune.com/article/controversial-golden-passports-banned-malta-europe/ ]

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Controversial 'golden passports' sold to rich foreigners banned by European Union's highest court