On 29 September, EurActiv reported that the European Commission has formally taken Malta to the EU’s highest court for its cash-for-passports scheme that endows Maltese citizenship on wealthy third-country citizens in return for money and investments.The Commission said it considers the scheme a violation of EU law and has long called on Malta to withdraw the scheme over fears of money laundering and citizenship being granted to high-risk individuals.  It notes that, in March, the Commission issued a recommendation saying that EU Member States “still operating investor citizenship schemes need to terminate them immediately”.

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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