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“The recent EU high court ruling against Malta’s CBI programme marks a significant development in the constitutional balance between national sovereignty and EU integration and sets an important precedent moving forward. This move places stricter scrutiny on how EU member states confer nationality when it affects the wider European Union and it is not the first time that we’ve seen such a decision.
The European Union has consistently opposed both citizenship and residency by investment.. In the last five years alone, we’ve seen CBI programs in Cyprus, Bulgaria, Montenegro and Malta effectively wound up, whilst RBI programmes in Spain and Ireland have also ceased their programs, with Greece rumoured to be the next nation to follow suit. Portugal discussed closing for a year but saved the programme by simply closing the real estate option
Brussels has also repeatedly threatened other nations, such as Albania, that such an offering could jeopardise their EU ambitions.
So what happens next?
Whilst the ruling is a step in the wrong direction for CBI programs, it doesn’t mark the final nail in the coffin of investment migration, but rather the evolution of the sector in line with stricter EU parameters.
It also highlights how diversification has become even more critical and today, a neutral passport and the ability to obtain EU residency could be the best solution for investors, providing them with the ability to live, work and travel with ease, without obtaining EU citizenship. We see that more investors after obtaining a Caribbean or even Vanuatu Passport are going on with EU residency programmes.
We would advise all investors to sense the changes that are coming and act now while Golden Visa programmes are still open and free from hyper-restrictive conditions.”
Data tables and sources
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Notes to Editors: –
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