Dark corner of the program ‘golden passport’ for the super rich

The super-rich in Russia, China and Saudi Arabia are freely moving into Europe through the gaps in the program to ‘buy’ a Malta passport.
This loophole helps them get a so-called “Malta golden passport” that only has to stay in the country for less than 3 weeks, according to a leak from a passport brokerage firm, Guardian said April 22.

Thousands of emails and documents from the citizenship and citizenship consulting firm Henley & Partners have revealed an unprecedented “door” on the mechanism of the so-called “golden passport” program, in which countries are semi-national. citizenship for foreign giants. This revelation showed for the first time how some people buy Malta passports through a government investment program, allowing them to pretend they are “residing” in the country for a year by renting an apartment. then leave it blank. Two weeks to own a “golden passport” Officially known as the Individual Investor, this program is designed to attract wealthy investors and enrich the national budget. Eight years ago, Malta announced plans to “sell” passports making the European Union (EU) not satisfied. The EU authorities are concerned that “buyers” can travel freely within the EU and Schengen bloc as well as be able to travel to many countries without applying for a visa in advance. In January 2014, a spokesperson for the European Commission gave a speech contradicting the proposals and stressed that EU members should only provide passports to individuals with “real affiliation”. to their country. After two weeks, the issue was somewhat resolved when the Government of Malta released a joint statement announcing anyone “buying” Maltese citizenship would need to reside in the country for one year, while also demonstrating the authenticity of the relationship with their new home. However, Malta’s golden passport program does not specify “place of residence”. Government officials also eluded when asked about the ratio between those who applied for a 12-month period and those who would actually be present. Malta is a beautiful island nation located in the Mediterranean. Photo: Guardian. The vulnerability has allowed some customers, who pay more than 1 million euros under the program, to successfully confirm that they have an “authentic link” with Malta. What they need to do is just spend a few weeks there and do a few activities over the loudspeaker, such as yacht rental or donation to a local charity. Guardian reviewed 250 open letters clients sent to Henley explaining their intentions to Malta. Internal emails show customers constantly asking if they can spend less time here. In the case of a 2014 Middle East client, the representative even asked their manager if “would go to Malta in about 7-14 days (ie the minimum time period) to take a biometrics. study and register and receive card (residence) ”. “If it is not possible to visit for longer, opening a bank account, donating to local charities and becoming a member of a local club will help demonstrate the bond with the country,” the manager answer. This advice shows that instead of 12 months, it seems just two weeks is enough to get a “golden passport” here. “The applicant does not have to be present in that country,” advised a client. “However, in order to create an ‘authenticity link’, (the Malta government) would appreciate it with at least 14 days’ time.” Out of all 250 letters, the applicant’s average commitment to stay in Malta is 16 days. Two bedrooms for 12 people To demonstrate commitment to a new home, Malta “golden passport” applicants will be required to invest € 1.15 million in the country, including a purchase of at least a real estate. 350,000 euros or a 5-year rental for 80,000 euros. Passport of Malta. Photo: Loving Malta. Some properties are rented significantly smaller than the actual size required by the applicant’s family if they plan to live there. In one case, Chinese citizens even rented a two-bedroom apartment for 1,500 euros / month despite applying for citizenship for 12 people, including 6 children. A Maltese citizenship-seeking South African businessman refused to pay Henley an apartment management fee on the grounds that no one would visit it. “The apartment is not used, no one will be there in a year,” he complained in a letter to the company. Malta’s immigration regulatory loopholes have the potential to have serious consequences such as security risks, money laundering, tax evasion, corruption and the risk of escaping water criminals. outside of residence, traveling freely within the EU territory. The European Union Commission recently accused Malta of “selling” citizenship, allowing individuals with little or no connection to the EU. However, the Malta government denied any allegations that the country’s residency requirement was “fake”. It argued that “authentic links” are not defined in EU law and the government of Malta “sets the rules as well as makes the final decision on all citizenship applications”.