EUROPEAN COMMISSION REJECTS CITIZENSHIP BY INVESTMENT PROGRAMMES, SAYS THEY UNDERMINE THE FUNDAMENTALS OF CITIZENSHIP

 

 

 The European Commission is implementing policies designed to regulate residency consultancies. It is noteworthy that these policies expressly exclude consultancies involved with Citizenship by Investment (CBI) programmes, because it holds that such programmes are essentially illegitimate.

In discussing the Regulations it intends to implement and enforce, the EC Policy Statement was clear:

"this regulation should NOT apply to investor citizenship schemes, which result in the acquisition of nationality in exchange for such investments, as such schemes must be considered as undermining the fundamental status of [European] Union citizenship  and sincere cooperation among Member states " {enphasis supplied}.

This puts Malta, the sole holdout among EU Member States selling CBI passports, on actual notice that the European Commission rejects CBI altogether.Cyprus has terminated its programme, after misconduct was uncovered by the media; we hope and trust that Malta's leaders are wise enough to follow suit.