Malta Puts Its European Citizenship Up For Sale

Malta Puts Its European Citizenship Up For Sale

Non-EU citizens can purchase official passports for $880,000 from the Maltese government.

Serena Chu
  • 13 january 2014

There really isn’t anything money can’t buy in this time and age. The Maltese government reconfirmed that concept by allowing non-EU citizens to purchase legal documentation to live, travel and work in all 28 EU states. Applicants with $880,000 set aside can now become bona fide citizens, as long as they are willing to buy Maltese real estate and stocks/bonds.

In an attempt to raise some considerable funds, the country asked British consultancy firm Henley & Partners to be the overseers of this controversial scheme, which in turn will receive a 4 percent cut of the total passport fees.

With up to 20,000 new citizenships up for grabs, Malta is looking to reel in €1 billion ($1.35 billion) – a large sum considering the nation’s national budget is just €3 billion a year – before closing down the program. Applicants with spouses, close relatives, or children under 26 years of age can purchase additional passports for €25,000 and €50,000, depending on the circumstances.

In an interview with the EU Observer, Kurt Farrugia, the spokesman of Maltese Prime Minister Joseph Muscat said:

“We have a strong economy. We’re doing this to attract reputable people who can invest in the country.”

While it might be a swift way to accumulate funds, this financial scheme is stirring up some serious controversy among Members of Parliament who are worried about the bad image associated with the dealings. The European Parliament will hold a debate on it during the first plenary session of the year. To promptly address the matters of concern, the Maltese parliament will be holding a debate this week.

Source: EU Observer, Luxury Launches

Image: Times of Malta


How Indiegogo Is Becoming An Adult Product Destination

Home september 23, 2016

Watch This Fire Pit Dance Along To Your Favorite Song

Music City Fire is a system that is designed to flicker in time to ambient music

Automotive september 23, 2016

Slick GPS Navigator Gives Directions To Moped Riders

This small, round device attaches to a sideview mirror to display maps for safer traveling


Get PSFK's Related Report: Future of Work

See All
Home september 23, 2016

A Clock That Beautifully Manages Your Information Overload

The wall-mounted timekeeper is made to help people maintain focus and stay up to date with their appointments

Arts & Culture september 23, 2016

Performance Piece Blends Dancers Into Folds Of Light

The work provides commentary on the increasing connection between programmed and analog dimensions

Related Expert

Rafi Haladjian

Consumer Electronics, Healthcare

Design & Architecture september 23, 2016

Design Firm Adapts Childhood Homes For Unemployed Young Adults

The studio has unveiled three prototypes of transformed living spaces for people forced to move back in with their families

Health september 23, 2016

These Chocolate Squares Claim To Reverse The Aging Process

A group of researchers from Cambridge University have developed a candy bar that promises to give you a youthful glow

Cities september 23, 2016

Food-Producing Architecture Competition Seeks To Better Feed Cities

A design challenge in Copenhagen highlights the need and beauty of urban farming


Future Of Automotive
Scenarios Driving The Digital Transformation Of An Industry

PSFK Op-Ed september 21, 2016

Everything I Know About Leadership I Learned Teaching 7th Grade Math

Bree Groff, Managing Director at NOBL NYC, shares her secrets for knowing your employees and enabling a team

PSFK Labs september 22, 2016

The Future Of Work: Why Innovation Is Every Employee’s Job

PSFK Labs sits down with management at Johnson & Johnson to learn how the company comes up with their next ‘big idea’

Health september 23, 2016

Wearable Monitors Sun Exposure To Prevent Sunburn

The clip monitors UV rays to make sure you're not receiving too much sunlight

Op-Ed september 23, 2016

Productivity Expert: The Magic Of The Five-Hour Workday

Stephan Aarstol, Founder of Tower Paddle Boards, explains why the modern notion of office hours needs to evolve

Culture september 23, 2016

This Exhibition’s Crowning Jewel Is An 18k Gold-Plated Toilet

The piece, titled 'America,' is meant to raise questions about the country's wealth inequality

Culture september 23, 2016

Match Up With Dates On Tinder Based On Your Music Preferences

A new partnership with Spotify lets people pair up based on shared tastes in artists

Entertainment september 23, 2016

Capture, Cut Up, And Configure Your World In 360 Degrees

To meet a booming 360 and VR video-capturing industry, a multimedia software company bolstered its media editing suite for 360-video creation


Future Of Work
Cultivating The Next Generation Of Leaders

Advertising september 23, 2016

These Trucks Drove Around In Circles For 24 Hours To Keep Time

The giant ticking clock was created by 14 Scania vehicles in a deserted airfield

Advertising september 23, 2016

Buy Movie Tickets Directly From Your Facebook Profile

The new feature is part of a campaign from Fandango to further imbed social media into the ticket vendor's digital presence

Asia september 23, 2016

Co-Working Space Brings The Calming Atmosphere Of Nature Indoors

An architectural firm in China has designed a new type of shared office that prioritizes the natural environment

No search results found.