Facts and Explainers
Here´s an exercise for all the whataboutists active on social media defending Malta´s passport scheme. One of the arguments being bandied around is in fact that other countries still have such schemes. I knew this was not true and that Malta´s was the last one standing till today; but do not take it from me. I asked ChatGPT instead and here is the result….
How many countries in the EU currently have a citizenship by investment scheme?
As of April 2025, no European Union (EU) member state offers a citizenship by investment (CBI) scheme—that is, a program granting immediate citizenship in exchange for a financial investment without substantial residency requirements.
Malta was the last EU country to operate such a scheme. However, on April 29, 2025, the European Court of Justice ruled that Malta’s “golden passport” program violated EU law by commodifying citizenship and undermining the principles of solidarity and mutual trust among member states. The Court emphasized that granting EU citizenship in exchange for payment undermines the integrity of citizenship, national bonds, and mutual trust among EU member states. Prior to this, Cyprus and Bulgaria had already terminated their CBI schemes following pressure from the European Commission over similar concerns.
While direct citizenship by investment programs have been discontinued, several EU countries continue to offer residence by investment (RBI) schemes, commonly known as “golden visas.” These programs grant residency rights to investors, which may eventually lead to citizenship through naturalization, subject to residency duration, language proficiency, and integration requirements. Countries such as Portugal, Greece, Spain, and Hungary maintain such RBI programs, though they are under increasing scrutiny and regulatory tightening.
