Latest news with #MaíraMartini
Yahoo
01-05-2025
- Business
- Yahoo
An EU Court Just Ruled the 'Golden Passport' Scheme Is Illegal—What to Know
Courts in the EU have put an end to Malta's golden passport program, which essentially allowed foreigners to purchase citizenship. Critics of the program say it opened the EU to potential corruption and money laundering. The court decision could have implications for other golden passport programs within the just got a little harder for those hoping to snag a coveted European Union passport. On Tuesday, the Court of Justice of the European Union (CJEU) ruled that Malta must end its golden passport program, which allowed foreigners to purchase citizenship in exchange for an investment of more than €600,000, according to EuroNews. And this decision could have a ripple effect on other countries in the EU with similar programs. 'Today's judgment confirms that member states cannot commodify EU citizenship and operate reckless golden passport programs," Maíra Martini, the chief executive officer of Transparency International, said in a statement. "Countless cases have shown how these schemes have granted safe haven to corrupt actors from around the world and other suspicious individuals in the EU. The ruling stops not only Malta from selling EU citizenship, but will also prevent other member states from doing the same.' Related: How to Move to Another Country — 15 Key Steps The Commission had argued that Malta's golden passport scheme allowed people to obtain Maltese citizenship without having to show a genuine connection to the country, which then allowed them to live and work anywhere across the EU. "The Commission asserts that the scheme, which granted naturalization in return for predetermined payments or investments to persons without a genuine link with Malta, constitutes an infringement of the rules relating to Union citizenship and of the principle of sincere cooperation," the Commission wrote. "It therefore brought an action against that Member State before the Court of Justice." The Maltese government responded to the ruling, stating that past recipients of the passport program would not be affected and that it plans to comply with the new court ruling moving forward, according to Forbes. 'As always, the government of Malta respects the decisions of the courts,' a statement by the government reads. 'At this moment, the legal implications of this judgment are being studied in detail, so that the regulatory framework on citizenship can then be brought in line with the principles outlined in the judgment.' But the government's statement also noted that it 'takes pride in the wealth generated through this framework over recent years, which enabled the establishment of a national fund for investment and savings to address the needs of both present and future generations." This program differs slightly from golden visa programs like those in Portugal, which offered a pathway to citizenship through various investments, including purchasing a home, starting a business, or donating to arts and culture. However, as EuroNews pointed out, the Portuguese government has already scaled back its program, removing the real estate investment option as of 2023. EuroNews added that the Netherlands has also ended its golden visa program, while Spain has also promised to end its real estate program as well. 'This case was about more than national citizenship; it was about putting an end to a dangerous policy that put the EU's four freedoms up for sale," Nick Aiossa, the director of Transparency International EU, added. "As long as money can buy EU citizenship, the entire bloc is exposed to risks of corruption from money launderers and criminals—but no longer. The CJEU ruling puts an end to Malta's controversial golden passport scheme and will prevent other member states from trading in EU citizenship going forward." Read the original article on Travel & Leisure
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First Post
29-04-2025
- Business
- First Post
'Commercialisation of citizenship': Malta's ‘golden passport' is illegal, rules EU top court
Europe's highest court on Tuesday struck down Malta's controversial 'golden passport' programme, ruling that it breached EU law by allowing individuals to effectively buy citizenship through investment, according to a report read more Maltese passports are seen in this illustration taken April 29, 2025. Reuters File Europe's highest court on Tuesday struck down Malta's controversial 'golden passport' programme, ruling that it breached EU law by allowing individuals to effectively buy citizenship through investment. According to a Politico report, the European Commission had launched legal proceedings against Malta in 2022 over the scheme giving foreigners a Maltese — and therefore European Union — passport in exchange for a one-off investment of at least €600,000. In its ruling, the Court of Justice of the European Union called the programme a 'commercialisation' of EU citizenship that undermined the principles of 'good faith' and 'mutual trust' among member states, added the report. STORY CONTINUES BELOW THIS AD Though Malta suspended the scheme for Russian and Belarusian nationals after the Ukraine invasion, earlier beneficiaries reportedly included sanctioned Russian oligarchs, according to media reports. Malta's government said it would comply with Tuesday's ruling and update its laws accordingly, reported Politico, citing local media. 'As always, the government of Malta respects the decisions of the courts,' Politico quoted the government as saying in a statement. 'At this moment the legal implications of this judgment are being studied in detail, so that the regulatory framework on citizenship can then be brought in line with the principles outlined in the judgment,' the statement added. The Maltese government added that past recipients of the scheme would not be affected and said the scheme had raised hundreds of millions of euros. A spokesperson for the Commission welcomed the ruling. 'European citizenship is not for sale,' Politico quoted the spokesperson as saying on Tuesday. 'We expect Malta to comply with this decision and apply it accordingly,' the spokesperson added. The spokesperson urged the abolition of all similar citizenship-by-investment schemes across the EU. While Cyprus and Bulgaria have already discontinued their golden passport programmes —Cyprus even revoking several, mostly issued to Russian nationals — the court's ruling was welcomed by NGOs as a major step toward closing loopholes in EU citizenship policies. STORY CONTINUES BELOW THIS AD 'Today's judgment confirms that member states cannot commodify EU citizenship and operate reckless golden passport programmes,' Politico quoted Transparency International CEO Maíra Martini as saying in a statement. Former Maltese Prime Minister Joseph Muscat, who launched the golden passport scheme in 2014, dismissed Tuesday's court ruling as politically driven. In a Facebook post, he accused European Parliament President Roberta Metsola of 'working against our country.' Muscat is currently facing prosecution in Malta over alleged corruption. With inputs from agencies
Irish Times
29-04-2025
- Business
- Irish Times
Malta ‘golden passport' scheme breaches EU law
A 'golden passport' scheme operated by Malta offering citizenship to wealthy overseas investors has been struck down by the European Court of Justice (ECJ), which found it amounted to the government selling citizenship. In a significant ruling, the EU court said the controversial scheme had commercialised citizenship by in effect allowing rich foreign individuals to buy a passport. Under the scheme, applicants could secure Maltese citizenship by donating at least €600,000 to the government and buying or renting property on the small Mediterranean island. The European Commission challenged the legality of the scheme. READ MORE The commission criticised the 'transactional' nature of the programme, which gave successful applicants a passport that allowed them to work and travel across the EU. The practice of in effect selling EU citizenship undermined trust between the 27 member states, the commission said in an April 1st, 2020 letter. Agents pushing the scheme promoted it as an avenue to secure the 'right to reside, study and work in any of the 27 countries of the European Union', according to excerpts from promotional materials submitted to the court. Malta stopped taking applications from Russian and Belarusian individuals following Russia's full-scale invasion of Ukraine in early 2022, over fears the scheme would be exploited by wealthy individuals seeking to avoid western economic sanctions. By that point the commission had already opened a legal case against the citizenship investor programme, seeking an ECJ ruling that it broke EU law. Malta argued that the portrayal of its process as an 'automatic and unconditional access route to Maltese nationality' was an 'oversimplification'. In a decision published on Tuesday, the ECJ said the selling of national citizenship through the 'transactional' Maltese scheme was 'incompatible' with EU law. The ruling means Malta will be forced to discontinue its overseas investor programme. Anti-corruption organisation Transparency International welcomed the ruling. Maíra Martini, its chief executive, said 'countless cases have shown how these schemes have granted safe haven to corrupt actors from around the world and other suspicious individuals in the EU'. The ECJ decision 'stops not only Malta from selling EU citizenship, but will also prevent other member states from doing the same', she said. Another EU state, Bulgaria , scrapped a similar golden passport scheme in 2022, following pressure from the commission. Ireland discontinued, in February 2023, a cash-for-visa scheme it had run for more than a decade . It had allowed wealthy individuals secure residency in Ireland in return for investing €1 million in an Irish business, or philanthropic donations of at least €400,000, commonly made to sports clubs and charities. The government closed the scheme to new applicants in early 2023 in response to internal concerns about a surge in applications from China and difficulties carrying out due diligence on those applying.
Yahoo
11-02-2025
- Politics
- Yahoo
Billions of dollars of life-saving climate funds at risk of being stolen or misused, experts warn
Corruption is eating into climate funds in the world's most vulnerable countries, experts warn. For 30 years, Transparency International's Corruption Perceptions Index (CPI) has tracked abuses of power across the world, giving nations a rating out of 100. Many climate-vulnerable nations and recent UN climate summit hosts score poorly in the new 2024 CPI. The findings have worrying implications for projects intended to protect people. "We must urgently root out corruption before it fully derails meaningful climate action,' says CEO of Transparency International Maíra Martini. 'Today, corrupt forces not only shape but often dictate policies and dismantle checks and balances - silencing journalists, activists and anyone fighting for equality and sustainability.' Related Fossil fuel subsidies: G7 nations ignore targets and increase taxpayer funding to record levels Top American banks exit net zero alliance: What does this mean for their European peers? More than two-thirds of countries score below 50 out of 100, according to the report, which ranks 180 places on a scale of zero (highly corrupt) to 100 (very clean). It draws on data from the World Bank, World Economic Forum, private risk and consulting companies, think tanks and other sources. It also reflects the views of experts and business people. The global average rating has remained unchanged at 43, highlighting the need to root out this 'evolving global threat,' in the words of François Valérian, Transparency International's chair. In the context of the climate crisis, it means that billions of dollars of climate funds are at risk of being stolen or misused. Corruption in South Africa (41), Vietnam (40) and Indonesia (37), for example, is endangering the delivery of Just Energy Transition Partnerships (JETPs), the researchers say. These partnerships are designed to help coal-dependent countries embrace a greener future, but Transparency International has found that insufficient safeguards create opportunities for unscrupulous actors to muscle in. In South Africa, around a billion rand (more than €52 million) is stolen each month from Eskom, the state-owned energy provider, according to its former chief executive. Countries suffering the worst impacts of the climate crisis have the lowest scores - including South Sudan (8), Somalia (9) and Venezuela (10). Related One person is killed every two days defending the environment. The EU must act Corruption can obstruct climate policies in countries with both high and low ratings, Transparency International says. But it is in wealthy, developed countries that this interference has the most serious impact because it undermines their work to agree on ambitious goals, reduce emissions and support developing countries. The US, for example, fell from 69 to 65 points last year. Mads Christensen, executive director of Greenpeace International, comments that fossil fuel corruption is undermining climate efforts in the country. The organisation is currently being sued by pipeline giant Energy Transfer, which 'is trying to wipe us off the map in the US with a massive, specious lawsuit,' he says. 'It's up to all of us who care about the future to stand up to these corporate bullies, no matter the cost." In Europe, Denmark has obtained the highest score on the index (90) for the seventh year running, closely followed by Finland (88). Kosovo (44) and Moldova (43) have taken significant steps to rise up the rankings in recent years, while France (67), Germany (75), Hungary (41) and Switzerland (81) dropped to their lowest levels yet in 2024. Related Carbon capture: The inside story of how a 'delay tactic' became a darling of the EU The report found that transparency from the host countries of recent UN climate summits was also seriously lacking. Azerbaijan, host of last year's COP29 - which granted access to at least 1,773 fossil fuel lobbyists - scored just 22 on the scale. Eyes are turning to COP30 hosts Brazil, which will be responsible for securing last year's finance deal and deciding on a key pledge to transition away from fossil fuels. But in this year's CPI it received an all-time low score of 34. 'Governments and multilateral organisations must embed anti-corruption measures into climate efforts to safeguard finance, rebuild trust and maximise impact,' Martini urges.
Euronews
11-02-2025
- Business
- Euronews
Billions of dollars of life-saving climate funds at risk of being stolen or misused, experts warn
Corruption is eating into climate funds in the world's most vulnerable countries, experts warn. For 30 years, Transparency International's Corruption Perceptions Index (CPI) has tracked abuses of power across the world, giving nations a rating out of 100. Many climate-vulnerable nations and recent UN climate summit hosts score poorly in the new 2024 CPI. The findings have worrying implications for projects intended to protect people. "We must urgently root out corruption before it fully derails meaningful climate action,' says CEO of Transparency International Maíra Martini. 'Today, corrupt forces not only shape but often dictate policies and dismantle checks and balances - silencing journalists, activists and anyone fighting for equality and sustainability.' Where are climate funds at risk from corruption? More than two-thirds of countries score below 50 out of 100, according to the report, which ranks 180 places on a scale of zero (highly corrupt) to 100 (very clean). It draws on data from the World Bank, World Economic Forum, private risk and consulting companies, think tanks and other sources. It also reflects the views of experts and business people. The global average rating has remained unchanged at 43, highlighting the need to root out this 'evolving global threat,' in the words of François Valérian, Transparency International's chair. In the context of the climate crisis, it means that billions of dollars of climate funds are at risk of being stolen or misused. Corruption in South Africa (41), Vietnam (40) and Indonesia (37), for example, is endangering the delivery of Just Energy Transition Partnerships (JETPs), the researchers say. These partnerships are designed to help coal-dependent countries embrace a greener future, but Transparency International has found that insufficient safeguards create opportunities for unscrupulous actors to muscle in. In South Africa, around a billion rand (more than €52 million) is stolen each month from Eskom, the state-owned energy provider, according to its former chief executive. Countries suffering the worst impacts of the climate crisis have the lowest scores - including South Sudan (8), Somalia (9) and Venezuela (10). Climate corruption is creeping up in developing countries too Corruption can obstruct climate policies in countries with both high and low ratings, Transparency International says. But it is in wealthy, developed countries that this interference has the most serious impact because it undermines their work to agree on ambitious goals, reduce emissions and support developing countries. The US, for example, fell from 69 to 65 points last year. Mads Christensen, executive director of Greenpeace International, comments that fossil fuel corruption is undermining climate efforts in the country. The organisation is currently being sued by pipeline giant Energy Transfer, which 'is trying to wipe us off the map in the US with a massive, specious lawsuit,' he says. 'It's up to all of us who care about the future to stand up to these corporate bullies, no matter the cost." In Europe, Denmark has obtained the highest score on the index (90) for the seventh year running, closely followed by Finland (88). Kosovo (44) and Moldova (43) have taken significant steps to rise up the rankings in recent years, while France (67), Germany (75), Hungary (41) and Switzerland (81) dropped to their lowest levels yet in 2024. Is corruption holding back climate summits? The report found that transparency from the host countries of recent UN climate summits was also seriously lacking. Azerbaijan, host of last year's COP29 - which granted access to at least 1,773 fossil fuel lobbyists - scored just 22 on the scale. Eyes are turning to COP30 hosts Brazil, which will be responsible for securing last year's finance deal and deciding on a key pledge to transition away from fossil fuels. But in this year's CPI it received an all-time low score of 34. 'Governments and multilateral organisations must embed anti-corruption measures into climate efforts to safeguard finance, rebuild trust and maximise impact,' Martini urges.
