Comments on: And the race to the bottom begins: first Bulgaria, and now Portugal undercuts Muscat’s passport scheme https://daphnecaruanagalizia.com/2014/03/and-the-race-to-the-bottom-begins-first-bulgaria-and-now-portugal-undercuts-muscats-passport-scheme/ Daphne Caruana Galizia is a journalist working in Malta. Fri, 21 Mar 2014 20:09:14 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: C.G https://daphnecaruanagalizia.com/2014/03/and-the-race-to-the-bottom-begins-first-bulgaria-and-now-portugal-undercuts-muscats-passport-scheme/#comment-1654478 Fri, 21 Mar 2014 20:09:14 +0000 http://daphnecaruanagalizia.com/?p=44889#comment-1654478 Bye-bye dawk il-miljuni li kien minghalieh ser idahhal is-Sur Muscat ghal dak ir-roap map tieghu.

Possibli li ser ikollna nissapportuh erba snin ohra?

]]> By: Kevin https://daphnecaruanagalizia.com/2014/03/and-the-race-to-the-bottom-begins-first-bulgaria-and-now-portugal-undercuts-muscats-passport-scheme/#comment-1650533 Thu, 20 Mar 2014 16:22:47 +0000 http://daphnecaruanagalizia.com/?p=44889#comment-1650533 Yesterday I received email from a Maltese real estate agent about the passport-for-sale scheme. They are offering a 4m plus Euro home on the island.

With 4m Euros prospective investors could, in theory, either buy a tract of land in Bulgaria and open a thriving niche hotel business or invest in the US to get a green card.

Decisions, decisions, decisions.

]]> By: alex https://daphnecaruanagalizia.com/2014/03/and-the-race-to-the-bottom-begins-first-bulgaria-and-now-portugal-undercuts-muscats-passport-scheme/#comment-1650369 Thu, 20 Mar 2014 15:04:00 +0000 http://daphnecaruanagalizia.com/?p=44889#comment-1650369 Henley & Partners are probably also advising other governments on this issue. Their prime motive is the bottom line, not our future. They’re right about that, because it’s their business – but then it’s up to national governments and the European Commission to resist their advances.

]]> By: albona https://daphnecaruanagalizia.com/2014/03/and-the-race-to-the-bottom-begins-first-bulgaria-and-now-portugal-undercuts-muscats-passport-scheme/#comment-1650092 Thu, 20 Mar 2014 13:13:47 +0000 http://daphnecaruanagalizia.com/?p=44889#comment-1650092 In reply to David.

David, I will give you one reason why the Maltese scheme attracted so much attention: it was the only one that out-rightly sold citizenship with no residency requirement or bond/link to the country.

It was really a case of selling a small book with ‘Malta – Unjoni Ewropea’ written on it – hence selling the rights conferred upon those holding this citizenship, rights to which they are eligible in 27 countries other than Malta.

Do you get it now?

]]> By: canon https://daphnecaruanagalizia.com/2014/03/and-the-race-to-the-bottom-begins-first-bulgaria-and-now-portugal-undercuts-muscats-passport-scheme/#comment-1649986 Thu, 20 Mar 2014 12:39:51 +0000 http://daphnecaruanagalizia.com/?p=44889#comment-1649986 Instead of creating jobs for the unemployed, Joseph Muscat lost time, money and energy on the citizen scheme.

]]> By: pablo https://daphnecaruanagalizia.com/2014/03/and-the-race-to-the-bottom-begins-first-bulgaria-and-now-portugal-undercuts-muscats-passport-scheme/#comment-1649974 Thu, 20 Mar 2014 12:36:55 +0000 http://daphnecaruanagalizia.com/?p=44889#comment-1649974 In reply to tinnat.

Portugal’s scheme requires the passage of 6 years before the applicant can claim citizenship within which period he has to keep his nose clean.

The Spanish one seems to be more like our IIP but cheaper. It would be interesting to see if there was any Henley-type exclusivity there.

]]> By: Ed https://daphnecaruanagalizia.com/2014/03/and-the-race-to-the-bottom-begins-first-bulgaria-and-now-portugal-undercuts-muscats-passport-scheme/#comment-1649764 Thu, 20 Mar 2014 10:57:31 +0000 http://daphnecaruanagalizia.com/?p=44889#comment-1649764 (it wasn’t approval, but saying ‘we can’t stop you’).

Exactly. It’s just like a guest asking if he can go to a wedding in a gold and purple spotted suit, when all the other men will be wearing dark suits.

Some things aren’t done – unless you’re a pruzuntuz philistine of course.

]]> By: Claudine Borg https://daphnecaruanagalizia.com/2014/03/and-the-race-to-the-bottom-begins-first-bulgaria-and-now-portugal-undercuts-muscats-passport-scheme/#comment-1649711 Thu, 20 Mar 2014 10:27:10 +0000 http://daphnecaruanagalizia.com/?p=44889#comment-1649711 It should have been expected that as soon as Malta launched such a programme, the rat race to undercut the price would start in other countries.

What impresses me more than Bulgaria and Portugal undercutting is the UK programme to start selling visas on auction:

http://www.theguardian.com/uk-news/2014/feb/25/uk-visa-sell-off-defended-government-advisers

Under the proposal, overseas millionaires will be invited to bid for a limited proportion of investor or tier-one UK visas that allow holders and their families to live indefinitely in Britain.

This type of UK visa would allow the bidder to apply for UK citizenship in one year too.

I think the UK is stooping even lower than Malta did.

All that remains now is to sell off citizenship on eBay, which might be not far off.

]]> By: Caroline https://daphnecaruanagalizia.com/2014/03/and-the-race-to-the-bottom-begins-first-bulgaria-and-now-portugal-undercuts-muscats-passport-scheme/#comment-1649689 Thu, 20 Mar 2014 10:17:36 +0000 http://daphnecaruanagalizia.com/?p=44889#comment-1649689 Henley & Something stand to gain even from the Portugal scheme if I’m not mistaken

]]> By: Calculator https://daphnecaruanagalizia.com/2014/03/and-the-race-to-the-bottom-begins-first-bulgaria-and-now-portugal-undercuts-muscats-passport-scheme/#comment-1649570 Thu, 20 Mar 2014 09:27:33 +0000 http://daphnecaruanagalizia.com/?p=44889#comment-1649570 Frankly, I see the whole Schengen Area system understandably in danger now, all thanks to Muscat.

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