The European Commission published a report on member states operating citizenship and residence by investment schemes in the Union.
Malta IIP Boss, Jonathan Cardona participated in first expert group meeting organised by the European Commission focusing on citizenship and residence by investment, following Commission’s most exhaustive and fact based report published earlier this year whilst the granting of citizenship is a member state competence.
We endorse the drive to establish minimum standards of checks and due diligence the goes into the process before a person is naturalised a citizen.
We look forward to further working together in the right spirit to find common ground how to share critical information on rejected applicants through established legal frameworks and authorities in order to safeguard our borders.
We look ahead to continue working closely with the Commission in this respect.
IIPA this month issued a press release clarifying citizenship is only granted to individuals who are indeed of good repute and committed to strengthening the vetting process not just for Malta but also for the entire citizenship by investment industry.
IIPA said
The Agency’s responsibility does not start and end with the citizenship by investment (CBI) programme it conducts. We are committed to keep strengthening the integrity of the whole CBI industry.
The programme’s success and robustness rests on three mechanisms intertwined in such a way that none can thrive without the other – due diligence, good governance and transparency.
Malta has been advocating for more cooperation between jurisdictions in the aspect of due diligence and background checks, and creating awareness on due diligence to the CBI/RBI industry.
Malta currently leads the CBI industry from the front firmly committed to strengthening the integrity of the whole CBI industry
Last year Malta became the first country to organize first due diligence conference bringing together experts all over the world.
Also this year, Malta is organizing second due diligence conference on June 11, 2019 one of the most important events within the industry.
