Foreign minister says 277 requests for Maltese passport received in embassies

George Vella says majority received in the embassies in Moscow, Paris, Rome, Istanbul and Dubai.

17 February 2014, 12:00am
by Staff Reporter

1 min read

Foreign minister George Vella has told the House of Representatives that Maltese embassies have received 277 requests for information on the sale of citizenship through the Individual Investor Programme.

He said requests were received mainly in the embassies in Moscow, Paris, Rome, Istanbul and Dubai.

Under the IIP rules, 277 applications - not including spouses and dependents - would mean revenues of €187 million, of which a minimum of €1.47 million would be paid to concessionaires Henley & Partners who conduct the due diligence for prospective applicants.

The government has claimed it stood to reap a billion in euros within the next five years, through the sale of citizenships.

More from Staff Reporter

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camillu who was doing the advertising?

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.....227 applications - not including spouses and dependents - would mean revenues of €14,755,000. If my calculator is right 277 applicants @ €650,000 each makes a total income for the maltese government of €180,050,000.

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So if these requests were made to Malta's embassies, i.e. directly to the Maltese Government, would Henley&Partners still receive a commission? This is what Malta Today should investigate.