WILL MALTA'S CITIZENSHIP BY INVESTMENT SALES PROGRAM BE TERMINATED IN 2025?

While most of the individuals in the economic passport (CBI) sales industry are closely watching the unfolding litigation, brought by the European Commission against the Republic of Malta's IIM (Citizenship by Investment) passport & citizenship sales program, a leading provider of migration investment services is warning that there is a very good chance that the Malta program will terminate next year. In a detailed and well-documented analysis of the history of the EU action, the opinion pointedly warned its existing clients who have pending applications in Malta to compete the process forthwith, or risk eventual failure to secure a passport when the program is shut down in 2025.

There are reports that an decision or opinion by the ICJ will be handed down in October, which means that the warning could prove to be accurate. Malta is an EU Member state, which means that its passport holders have visa-free entry into the Schengen Zone, where they can work, conduct business and even run for political office. Many legal observers believe that EU access is the primary reason that applicants seek to acquire citizenship & the passport which comes with it. Compliance officers are wary of opening bank accounts for Maltese CBI passport holders whose identity documents show that they were born in a jurisdiction that is deemed high-risk, or a State Supporter of Terrorism.