Over the last twenty four hour period tens, if not hundreds, of foreign media reports have lambasted Malta over its Individual Investor Programme, which will sell Maltese citizenships for €650,000. Some media reports have even gone as far as saying that Malta has resorted to this tactic to fill its empty coffers.

Italian news website La Notizia reports: “Casse vuote, Malta mette in vendita pure la cittadinanza. Servono 650 mila euro per diventare maltesi.” (Empty coffers. Malta is even selling its citizenship. You only need €650,000 to become Maltese.)

The website reports that the government intends to make €30 million a year from the scheme, and one can also acquire a Maltese passport for his parents for €25,000. “With the scheme, Malta’s coffers, which are strained by a heavy deficit, can start breathing again.”

Chilean news website 24horas’ headline reads “Malta selling citizenship to get out of crisis.” LaPresse.it and l’Unita’s reports are on the exact same lines.

The approval of the IIP was reported worldwide, from the US, to Australia to Russia, Africa and Shanghai. The main message is that Malta is selling its passports to foreigners who can afford to pay €650,000.

Such stories have also attractive hostile comments from the readers, particularly in the UK, where the EU is mostly looked at with suspicion. And the usual Maltese commentators are also battling it out on the comment boards of these foreign news websites.

Tourism Minister dismisses harm to reputation claims

Many argue that the scheme is not in Malta’s best interest and all this negative publicity is harming the country’s reputation. But Tourism Minister Karmenu Vella thinks otherwise. When asked this morning on the issue, Mr Vella insisted that “not all that is written in newspapers is necessarily correct or true.” When asked if he thinks that all these news reports are wrong, the Minister replied that he does not agree with their opinion. He added that these reports will not harm Malta’s reputation.