Maltese Citizenships Now on Sale

#Money

Mon, Nov 18th, 2013 10:00 by capnasty NEWS

If you're fed up with your country and want to quickly and easily (well, if you have the cash of course) call another country your home, cash-strapped Malta now has EU citizenships for sale: the only requirements are to be 18 and up, pass a criminal background check and a nimble €650,000 ($865,000). An interesting idea, when you consider that such a move, especially if you were to abandon your original citizenship, would mean you would not have to pay your original homeland's taxes anymore. As to be expected, Malta is not the only place offering this type of service:

Malta won’t be the only country with a program like this. The cheapest deals are in the Caribbean. You can become a citizen of St. Kitts and Nevis in return for $250,000 donation to a fund for retired sugar workers or a $400,000 real estate donation. Antigua and Barbuda instituted a program with the same price just last month. In Dominica, it costs about $100,000. These passports are particularly popular in the Middle East, though St. Kitts closed its program off to Iranians in 2011.

Besides Malta, two other countries in the EU will reportedly offer citizenship for the right price. Cyprus recently cut the price of its “citizenship by investment” program from €10 million ($13.5 million) to €3 million ($4.4 million) to placate foreign, mostly Russian, investors who lost out under the terms of the country’s recent EU bailout.

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