The Maltese Government is Considering to Abandon the Golden Visa Residence Scheme

The Times of Malta, citing "high-ranking government sources," writes that Maltese Prime Minister Robert Abela is considering ending the investment citizenship scheme due to declining income and international pressure.

Details. According to sources, Abela has a set of possible options, ranging from the complete termination of the scheme to the revision of the program. Abela is now supposedly weighing whether to completely stop selling passports, setting a deadline of about 2025, or reform the residence program for the second time.

The lucrative Maltese Golden Passport scheme, originally known as the Individual Investor Program (IIP), is aimed at the wealthy elite seeking access to the EU. Between 2014 and 2020, it brought Malta more than €800 million.

Nevertheless, the profit from the program has significantly decreased, and passport agents say that interest in the Maltese offer is steadily decreasing. Agents contacted by the Times of Malta said sales were down 40% compared to just two years ago.

This trend has been exacerbated by the recent exclusion from the program of Russians and Belarusians. They have accounted for about 30% of applicants in recent years.

Source: Times of Malta

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