The Sydney Morning Herald: ‘Malta sells citizenship to foreigners’
Valletta, Malta: Malta’s parliament has approved selling citizenship of the Mediterranean island for €650,000 ($939,000) for each non-European Union applicant.
Prime Minister Joseph Muscat said the program was meant to bring in revenue to the country while attracting “high value” people who could potentially invest in the island.
He estimated the scheme would earn the government €30 million ($43 million) in its first year – meaning that about 45 people would be sold citizenship, which would also give them work and residency rights in the rest of the 28-member bloc.
Malta’s Prime Minister Joseph Muscat.
Malta is a member of the European Union, a member of the Schengen border-less travel area and has a visa waiver agreement with the United States.
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Read more: http://www.smh.com.au/world/malta-to-sell-citizenship-to-foreigners-20131113-2xfd1.html#ixzz2kXRXzyGA
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