Great way to launder 650,000 euros.

Thank you for this.

Austria has set a precedent.

Malta is setting the bar too low at eur650,000. Unless this is just a case of prostiuting our nationality for money, there should also be other conditions attached to it. We are a tiny country so citizenship and all the rights that come with it should be limited to the few.

Judging from the people debarred by the World Bank for fraud and corruption but who find ready acceptance by the LP Malta Government to negotiate on its behalf there could be very few disreputable people internationally who wouldn’t be embraced by J Muscat & Co as entirely reputable in his judgement.

Joseph Muscat is worse than Duminku Mintoff – judging by what went on during the last 7 months he seems to be prepared to do anything in his power to remain PM for many years.

God help us.

Malmstrom does not require a link to this post.

Apart from her unassailable academic qualifications, Cecilia Malmstrom speaks fluent Swedish, English, German, French, Spanish, Catalan and Italian.

I would be very surprised if she had anytime to spare for Joey or his coffee.

She is no former SuperOne hack.

She, and the entire Commission for that matter, have already sized Joey up.

Long before he was elected to serve as Malta’s PM.

1.St. Kitts and Nevis
Cash for citizenship is an easy concept to understand. It best applies to just two countries in the world — both of which happen to be in the Caribbean — and is 100% legal and can happen in as little as a few months. The smallest nation in all of the Americas, the island federation of St. Kitts and Nevis, tempts would-be citizens with more than just tropical breezes, swaying palm trees and white sand beaches. It also touts no personal income tax, the allowance for multiple citizenship and visa-free access to nearly 130 countries and territories.

2. Dominica
Not to be confused with the Dominican Republic, this island of just around 73,000 people has offered a citizenship-by-investment scheme since 1993. Among four package options, a single applicant investment requires just a $100,000 deposit to the National Bank of Dominica, the country’s largest financial institution. The investment amount doubles for a family of four. Applicants must be of “outstanding character,” must wait “at least eight weeks” for approval and must have a “basic level” of English, according to Dominica’s website detailing the citizenship path.

3. Antigua and Barbuda
While not yet official, this third Caribbean island nation may allow economic citizenship as soon as this summer. After years of back and forth, the country’s parliament finally passed their controversial Citizenship-by-Investment Program (CIP) Bill in March, according to local reports. Similar to St. Kitts and Nevis, a $250,000 contribution to the country’s National Development Fund or a $400,000 real estate investment in approved developments is required. A third option is a $1.5 million “business investment” that allows an applicant to put money in government-approved businesses. An additional $50,000 application fee and a so-called $7,500 “due diligence fee” exist on top of the investment amount.

4. Austria
In Europe, Austria stands as the lone country where citizenship by investment is possible, according to Henley and Partners. The route, taken by few and accomplished by even fewer, can happen for “rendering exceptional services in the interest of the Republic,” according to an Austrian government website. One such service that has cleared prior clients, added Henley & Partners, is a direct investment of $10 million — a claim reportedly refuted by an Austrian government spokeswoman based in Washington, D.C. But you get what you pay for: Austria, with its 50% personal income tax rate, ranks among one of the highest in the world. A workaround, according to Henley & Partners, is simply to live elsewhere in Europe. Only Austrian citizens who actually reside in the country are subject to taxes. An Austrian passport easily gives that option by opening many borders. The country is a member of the Schengen Area with its 26 countries spanning most of western Europe sharing common borders without immigration control — not to mention more than 160 countries in total around the world — on par with Australia and Canada.

5. Hong Kong
While citizenship-by-investment in Hong Kong is not a possibility, residency-by-investment is. And this Chinese territory’s tax rate of just 15% stands as one of this city’s biggest draws. “In all of Asia, in terms of freedom to move capital, taxation and residency requirements, Hong Kong would be the best choice,” said Denny Ko, Managing Partner at Henley and Partners in Hong Kong. Under Hong Kong’s Capital Investment Entrant Scheme, or CIES, an investment of about $1.3 million gives applicants residency rights. You can buy stocks in companies listed on the Hong Kong Stock Exchange, debt securities in airport or railway companies or certificates of deposits that mature after just one year. In addition to enjoying one of the lowest tax rates in the world, residents can use the city’s well-regarded public health care system — just $13 to see an outpatient specialist versus about $150 for non-residents.

6. Singapore
Similar to Hong Kong, the Lion City’s personal income tax rates are among the lowest in Asia — ranging from 15% to 20% depending on income bracket, according to auditing firm KPMG. But “for Singapore, it would not be so easy” to become a permanent resident, said Jacqueline Low, COO at immigration services firm Janus. “The criteria are quite high.” Potential applicants must have a three-year track record of business and entrepreneurial experience, Low add. They must also prove past profitability — annual revenues of some $160 million in real estate and construction-related industries or revenues of about $40 million for all other industries, including pharmaceuticals and manufacturing.

7. Australia
If you have money to burn and want to go down under for permanent residency and potential citizenship, then Australia’s Significant Investor Visa is the way to start. Launched in November 2012, the program targets high net-worth individuals and requires a roughly $4.7 million investment. Applicants can invest in government bonds, infrastructure projects or private companies. In return — and in as little as three months — a significant investor visa can be issued. After four years, holders can apply for permanent residency. From the program’s launch through May, more than 170 applications have been filed. If all are given the green light, Australia will receive $850 million in new foreign investment.

A. Russia.

http://www.timesofmalta.com/articles/view/20131006/local/pm.489168

“Touching on foreign affairs, he said a meeting held at the request of Russian Foreign Minister Sergei Lavrov had unblocked stagnation in relations between the two countries, and a Russian envoy would come to Malta next month to discuss ways of moving relations forward.”

Meanwhile…

See “Russia, no room to breathe,” on page 16 here:
http://livewire.amnesty.org/read-wire/

See also:
http://www.amnesty.org/en/news/russia-abhorrent-use-punitive-psychiatry-silence-dissent-2013-10-08

B. Azerbaijan.

http://www.maltatoday.com.mt/en/newsdetails/news/national/Three-bids-for-Labour-s-promise-20130930

“The consortium (Electro Gas Consortium) also includes Socar Trading SA, owned by the state oil company of the Republic of Azerbaijan…”

Meanwhile…

http://www.amnesty.org/en/news/azerbaijan-downward-spiral-oppression-ahead-presidential-elections-2013-10-08

So much for the progressive and moderate movement.

Fenech Adami and Gonzi, their ministers and the public sector as a whole, worked like dogs for over a decade to get Malta into the EU and, once we were in, to position us as a valid member state.

We won respect over the last few years for having held our economy above water while other larger states drowned. And now this market hawker wants to auction off citizenship to the highest bidder, knowing all too well that the target market is made up of sleazy spivs and worse.

Prosit tal-programm, Joey. From Malta, respected EU Member, to rather shady operator with dubious ‘friends’, rather like Monaco – down to its jet set High Society, but without the real money.