ICYMI: Over €450 million: Malta’s “citizenship sale program” reports success – eTurboNews.com

Malta’s “citizenship for sale” program:

Malta’s Individual Investor Program (IIP) has now received over 400 applications since its launch in early 2014, which will result in over Euro 450 million (US$ 530 million) in Foreign Direct Investment.

This foreign direct investment comprises deposits, bonds, and real estate among other elements, and equates to approximately Euro 10 million (US$ 12 million) per week.

The first letters of citizenship approval-in-principle have been issued, and the first applicants will be issued with their certificates of naturalisation soon after their contribution, investment and residency requirements are fulfilled. There are over 40 nationalities represented among the applicants so far.

The IIP is a modern citizenship-by-investment program aimed at ultra-high net worth individuals and families worldwide. It was designed and is marketed internationally by Henley & Partners for the Government of Malta under a Public Services Concession. Andrew J. Taylor, Vice-Chairman of Henley & Partners, states, “Our firm understands the finest details of the IIP because we designed and created it with the Government of Malta. We are proud to work with the majority of families applying for citizenship through the program, who choose Henley & Partners because we are best positioned to ensure applicants adhere to all government regulations and follow all steps needed for a successful application.”

While it has the advantage of being open and honest, there is something sleazy about such an approach.

Over €450 million: Malta’s “citizenship sale program” reports success – eTurboNews.com.

About Andrew
Andrew blogs and tweets public policy issues, particularly the relationship between the political and bureaucratic levels, citizenship and multiculturalism. His latest book, Policy Arrogance or Innocent Bias, recounts his experience as a senior public servant in this area.

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