EU Bans Sale of ‘Golden Passports’ as Trump Opens Doors
The coastline of Senglea, Malta.
Photographer: Jasper Juinen/BloombergThis article is for subscribers only.
Malta’s “golden passports” program for wealthy investors violates European Union rules on citizenship, the bloc’s top court ruled in a case that could have transformed the EU into a haven for affluent foreigners at a time when President Donald Trump wants to entice them to the US.
The tiny island nation’s offer — which granted nationality to investors such as Russian and Middle Eastern tycoons, celebrities and sports stars — is illegal, the EU’s Court of Justice ruled on Tuesday.