The government calls it an individual investment programme intended to attract to Malta people with talent and money to invest. The more down to earth deem it a sale of Maltese/European passports and information tabled in Parliament indicates that is just what the IIP actually is: a sale. Over 80 per cent of the 143 successful applicants so far have signed five-year rent contracts rather than opting to buy a property in Malta. The implication is that they have no intention of settling here permanently, if at all. Chris Kalin, president of Henley & Partners, which runs the programme, was more succinct when he said that many of his clients were only interested in getting a Maltese passport rather than living here. In other words, they want a passport to Europe. The IIP scheme, which had not been included in the Labour Party electoral programme, was controversial from the start and amended several times along the way until a settlement was reached with the European Union.Full Article: Buy a passport, get your vote free - timesofmalta.com.
Jun 1 2016