The law that speeds up in Malta the attribution of nationality to foreign investors contradicts the law of the European Union today, the EU court in Luxembourg has ruled. “A Member State cannot give its nationality, and in fact European citizenship, in exchange for predetermined payments or investments,” the European Court of Justice (ECJ) said in a press release. The judges have accepted the European Commission’s request, which appealed to it on the amendment of a law on the performance of Maltese citizenship in 2020. The amended law allows investors who meet a list of financial conditions, to apply for Maltese citizenship after 12 months. The conditions include property property worth 700,000 euros or the payment of an annual rental of at least EUR 16,000, the contribution of a large sum of money to the Malta government and the donation to a non -governmental organization. Malta “must comply with the court’s judgment without delay,” the court said. If the […]
Source: News Beast
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