The European Court of Justice has made a historic ruling ordering Malta to completely end its citizenship-by-investment programme. The judges ruled that selling EU passports was contrary to the principles of European law and undermined trust between member states.
Malta's programme, in place since 2014, allowed foreigners to obtain citizenship for investments of €600,000 or more, without the requirement for long-term residence. This gave them the right to move freely, work, and vote in elections throughout the EU. However, the court stressed that citizenship cannot be a commodity: “The state may not turn it into a commercial transaction,” the resolution reads.
In 2020, Malta tightened the terms of the programme, introducing mandatory residence for a period of 1 to 3 years and increasing checks. However, the court considered these measures insufficient to eliminate the fundamental conflict with EU law. Previously, under pressure from Brussels, similar programs were closed by Cyprus (2020) and Bulgaria (2022), which indicates the EU's systemic fight against the "passport business".
The cancellation of the program puts an end to the dispute between Malta and the European Commission, which has lasted for several years. Now the country is obliged not only to stop issuing passports, but also to review already approved cases. This decision strengthens the EU's position in protecting the value of citizenship, but raises the question of the fate of thousands of investors who were counting on a European passport.
Analysts believe that pressure on countries with "golden visas" (residence permits for investment) will also increase, which could lead to a tightening of migration policy in the EU.
New Zealand has announced a significant update to its business immigration strategy, launching the new Business Investor Visa (BIV) in November 2025. This program replaces the previous Entrepreneur Work Visa and is designed to attract experienced investors to inject capital into established New Zealand businesses.
Effective August 1st, the program offers second citizenship in 6 weeks via Dubai-based PPP. From $90k donation + $5k fee (single applicant).
Starting August 20, certain visa applicants must post bonds up to $15,000. The program explicitly targets Citizenship-by-Investment holders over vetting concerns. Initially affects Malawi/Zambia nationals, but CBI countries face potential inclusion with 15 days' notice. 30-day stay limit applies.
