Malta Announces Major Reform in Citizenship-by-Investment Program Amid EU Scrutiny
VALLETTA, Malta — (Viral News Snippet) — The government of Malta has officially unveiled a comprehensive overhaul of its controversial citizenship-by-investment program, effective immediately, following sustained pressure from the European Union. According to an official statement released by the Maltese Ministry for Home Affairs, the revised scheme, renamed the “Maltese Citizenship for Exceptional Services by Direct Investment,” will impose stricter eligibility criteria, including a mandatory one-year residency requirement and enhanced due diligence checks on all applicants. The announcement, made during a press conference earlier today, stipulates that applicants must now demonstrate a genuine economic contribution, with a minimum investment threshold raised to 750,000 euros for the main applicant, in addition to a mandatory donation to a local charitable fund. This policy shift, which occurs after months of negotiations with EU authorities, aims to address long-standing concerns over transparency and security. The reform comes as Malta faces a deadline to align its national legislation with EU regulations, with the new rules set to be fully enforced by the first quarter of next year. Analysts project the changes could reduce application volumes by up to 40 percent, potentially impacting Malta’s annual revenue from the program, which previously contributed over 200 million euros to the national economy. The European Commission has yet to issue an official response, but preliminary reports indicate cautious approval pending a full compliance review.