News: 'Buy' Maltese passport, become European citizen

                                   

Malta just announced that it will start selling Maltese citizenship for EUR650,000 (Dh3,200,000).

The passport will grant the buyer freedom to move to, or reside in any of the countries of the Schengen visa zone.

The proposition became a fact when the Maltese Parliament voted in favour last Wednesday, announcing it would go into effect within a couple of weeks.

The purchaser is not required to reside in the country, or invest in the country. A minimum age of 18 is required and criminal records will be checked.

Furthermore, purchasers will be able to buy citizenship for their direct relatives for the price of EUR25,000 (Dh124,000).

Prime Minister Joseph Muscat was quoted as saying that the programme would attract wealthy individuals who could help change Malta's economy.

Similar plans are currently under way in Spain, with a draft law offering Spanish residency to people willing to make an investment of EUR500,000 (Dh750,000) in the local property market.

There are no language requirements and the applicant does not need to visit the country once.

Aed 3,200,000 is like 877,000 U.S Dollars............Ok, I'll be back!!!! *InArnoldSchwarzenegger'sVoice*