Malta’s Golden Passport: A Threat to the EU

Malta’s golden passport scheme has been the subject of much criticism in recent years. The scheme allows wealthy foreigners to buy Maltese citizenship in exchange for an investment of around €1 million. This has raised concerns about corruption, money laundering, and security risks.

The EU has been particularly critical of the scheme. In 2020, the European Commission launched an infringement procedure against Malta, arguing that the scheme is not compatible with EU law. The Commission has also expressed concerns about the lack of transparency in the scheme and the lack of checks on the background of applicants.

Malta has defended the scheme, arguing that it is a legitimate way to attract foreign investment. However, the scheme has been tainted by a number of scandals. In 2017, it was revealed that the wife of the Prime Minister of Azerbaijan had been granted Maltese citizenship under the scheme, despite having no apparent connection to Malta.

In 2021, it was revealed that a number of Russian oligarchs had been granted Maltese citizenship under the scheme. These oligarchs were later sanctioned by the EU for their links to the Russian government.

The revelations about the golden passport scheme have damaged Malta’s reputation. The scheme has also raised concerns about the security of the EU’s borders. If wealthy foreigners can buy their way into the EU, it could make it easier for criminals and terrorists to enter the bloc.

The EU has called on Malta to end the golden passport scheme. However, Malta has so far refused to do so. The scheme is still in operation, and it is unclear when or if it will be terminated.

The golden passport scheme is a threat to the EU. It undermines the integrity of the bloc’s borders and it opens the door to corruption and money laundering. The EU must take action to end this scheme and to protect the security of its citizens.

In addition to the concerns mentioned above, there are also concerns that the golden passport scheme could lead to a rise in inequality within the EU. If wealthy foreigners can buy their way into the EU, they will be able to access the same benefits as EU citizens, such as free movement, access to education and healthcare, and the right to vote. This could lead to a situation where the wealthy have more opportunities than the poor, which would further widen the gap between rich and poor in the EU.

The golden passport scheme is a controversial issue, and there are strong arguments on both sides. However, the concerns about corruption, money laundering, security risks, and inequality are serious enough that the EU should take action to end this scheme.