Thanks, H.P. Baxxter.

I only wish that things are much different from what Nuri Katz said as his article is really shocking.

As regards to your last answer, maybe the government is comfortable that most of the nation’s bonds are bought by Maltese citizens.

They’d need to be resident in Malta.

And good thing too. If all those Maltin tal-Ostrellja were to vote, it would be a 90% Labour majority each time.

Qishom qahba f’xalata.

Can I answer instead?

– How many consultant firms like Henley exist in the World ?

Lots. One of them is Apex, run by Nuri Katz who wrote an excellent op-ed in The Times of Malta today. But no other firm has ever been given such decision-making powers, powers which should only belong to national governments. And none has ever been put in such an obvious position of conflict of interest, where it provides the due diligence and receives a cut on successul applications at the same time.

– What exclusive right as the sole EU country will the Maltese government have to run this scheme ?

In theory, it can refuse Henley & Partners’ decision. But that decision does not come with a dossier, because Henley and Partners is not obliged to provide the details of the due diligence process; only to give a green or red light. Since H&P’s profits will come from the sale of passport, and they are after all a profit-making venture, why should they refuse custom?

– What’s keeping other EU countries from running identical schemes ?

Basic decency, solidarity among fellow European friends, and the morality of mature democracies

– What’s Malta have to offer that another EU country can’t ?

Do you mean in terms of a Maltese passport or residence? Mostly it’s a very lax fiscal regime. If it were as easy to obtain another EU passport, Malta would be an attractive choice for this reason. So the people after a Maltese passport are really after an easy way to stash away their wealth, earned perhaps by illegal means. But since other EU countries are not the whores we are and do not sell passports.

– Why would a prospective applicant choose Malta over such other country ?

Because no one else is a whore. See previous answer.

– Wouldn’t at least one other country to offer such a scheme be enough to burst the billion euro bubble ?

See a previous answer. Other countries will never stoop to such levels, because they know that the nation-state exists only by virtue of self-imposed moral codes. We are a young and incredibly immature nation, and we haven’t the faintest clue about these things. But it’s also because of the irreparable damage it does to the economy. A country that sells passports sends out the message that it is bankrupt. And who would want to invest in a bankrupt country, or do business with it, or buy its government bonds?

Many.

None.

Self respect and risk of a revolt by the electorate.

Maybe.

I have the following questions and must have missed arguments providing answers to them:

How many consultant firms like Henley exist in the World ?

What exclusive right as the sole EU country will the Maltese government have to run this scheme ?

What’s keeping other EU countries from running identical schemes ?

What’s Malta have to offer that another EU country can’t ?

Why would a prospective applicant choose Malta over such other country ?

Wouldn’t at least one other country to offer such a scheme be enough to burst the billion euro bubble ?