Comments on: What exactly is this €1 billion in capital that Henley & Partners is talking about?

By: Evarist Saliba

Evarist Saliba — Mon, 12 Oct 2015 16:14:00 +0000

Can a fee paid for a service be called “capital raised”?

The Maltese public should be told what the sale of Maltese citizenship – which does not belong to Henley & Partners or to the government – has generated in funds, where these funds are, who is managing them, who is retaining any interest from them, and to what purpose they have been put so far.

Instead, the public is being taken for a ride with conflicting information that does not seem to reveal the true picture.

By: Peter Agius

Peter Agius — Mon, 12 Oct 2015 09:34:00 +0000

In reply to Manuel Camilleri.

Of course it won’t be called commission or bonus, but a consultancy fee.

You must know, a prime minister doesn’t earn senserija – of course not. Renting his own clapped-out car to the government is OK but senserijja? Ma tarax.

By: Mark Vassallo

Mark Vassallo — Mon, 12 Oct 2015 09:04:00 +0000

Agreed. This is where the discrepancy arises. The government gets the funds as and when citizenship is granted. The client however deposits the full amount as well as Henley’s fee at the time of application.
Henley is therefore talking about the fact that it, and not Malta, has raised €1bn in capital from all these applicants.

By: pseudonym

pseudonym — Mon, 12 Oct 2015 07:11:00 +0000

In reply to Mac Taylor.

I cannot disclose much but I can vouch for the number of 1,200 citizenships sold to be correct.

The reason is that this same summer the
number stood at 1,080 last I looked, after notice was posted to several client sources telling us over half were gone.

By: Manuel Camilleri

Manuel Camilleri — Sun, 11 Oct 2015 22:55:00 +0000

I’d say that a fair share of that money is going into the Labour Party’s coffers.

What about the Opposition asking the PM if he is receiving a personal commission from this sale? After all, he became Henley & Something most ‘prestigious’ salesman and salesmen do get their commission.

I believe the PM is receiving some sort of compensation or commission for his endeavours in favour of Henley and Partners. But he won’t tell us.

By: Godfrey Leone Ganado

Godfrey Leone Ganado — Sun, 11 Oct 2015 21:55:00 +0000

I am not sure whether the funds received from the sale of passports may prejudice Malta’s status on the access to funding from the EU.

If this is the case, the government may be understating the revenue to avoid Malta becoming a net contributor instead of a net beneficiary.

In my opinion the European Commission may have a case as, after all, we are selling European Union passports.

By: Tabatha_White

Tabatha_White — Sun, 11 Oct 2015 21:36:00 +0000

It’s one of the many negative givens of this administration:

Elected by fraud, governing by fraud, longevity by fraud.

By: Daphne Caruana Galizia

Daphne Caruana Galizia — Sun, 11 Oct 2015 21:21:00 +0000

Hardly. The government said that it has sold citizenship to 73 main applicants and 176 dependents. That gives a figure of 80 million euros, max.

By: Arturo Mercieca

Arturo Mercieca — Sun, 11 Oct 2015 21:12:00 +0000

When Henley & Partners talks of more than a billion euros in capital being raised, does this include the €150,000 each applicant has to invest in government stock or some other approved investment?

Investing in government stock is the most stupid aspect of this immoral scheme as the Maltese government never had any problems selling its stock.

It is tantamount to a loan to the Malta government which eventually has to be repaid with interest.

It’s the Central Bank of Malta which is now having problems implementing the quantitive easing policy of the European Central Bank as Maltese banks don’t want to part from their holdings of Malta government stock.

By: Tabatha_White

Tabatha_White — Sun, 11 Oct 2015 20:59:00 +0000

I’m sure they’re over-eager to go over the details of this in the budget-brought-forward.

The very reason?