Contrary to what we may think, we are not alone in this wide world.

Sometimes we may think we are the only whizz-kids on the block, but we aren't - not by a long chalk.

Our political leaders may have persuaded many, including themselves, when they latched on to a sure-fire money making tactic by coming up with the 'passports for sale' or citizenship scheme.

This scheme, as everyone knows, created no small reactions in Malta - European parliamentary debates and what not.

But if we were to look beyond the boundaries of Malta, we are not alone in this world nor are we the only country trying to attract foreign direct investment.

A recent series in the Financial Times said that cash-strapped governments across Europe are reeling in investment from Chinese millionaires and other big spenders by offering 'golden visa' residence permits in exchange for house permits.

The paper said that Portugal is at the forefront of the trend after issuing 1,560 such visas since 2012 - 1,100 or 81% of which went to Chinese nationals.

Greece, Latvia, Spain and other crisis-hit eurozone countries run similar schemes.

Hungary offers residency visas for people who make a €250,000 investment in government bonds.

Buying a property for €220,000 in Malta or €300,000 in Cyprus can also secure a residence permit.

By spending a minimum €300,000 on a Portuguese property, non-European families can live in Portugal for five years and then apply for permanent residence.

They can also travel in the 26 EU countries that make up the Schengen 'open borders' area.

However, the paper continued, most Chinese buyers are acquiring golden visas as a 'Plan B escape route' and do not intend to become permanent EU residents, according to estate agents in the sector.

Charles Roberts, the founder of Pine & Country real estate firm, which has sold 100 Portuguese properties to Chinese golden visa applicants, said: "The Chinese are buying an exit route so that if something goes wrong for them at home they can get on a plane and get out."

Chinese companies operating in Portugal estimate that only about one in five Chinese investors will spend much more than seven days a year in Portugal, the minimum stay requirement to acquire a golden visa.

The trend is breathing new life into property markets hit by years of recession.

Portugal's visa programme, the most successful to date in the EU, has netted almost €900m in real estate investment since its launch in October 2012, a figure property developers expect to reach €2bn by the end of 2015.

Other countries have more attractions than we have in Malta. The hot property market in Lisbon plays to China's vision of Portugal as a European anchor to connect with businesses in other Portuguese-speaking countries such as Brazil and Angola.

Spain requires a €300,000 property purchase to issue a golden visa - and so far, Chinese investors account for a third of the 134 permits issued there. But more are in the pipeline - even though, unlike in Portugal, new owners will have to wait 10 years to apply for permanent residence.

"We are seeing an explosion of applications," said Jaime Garcia-Legas, Spain's commerce minister. "It started slowly but in May alone we had 500".

Greece began offering a five-year residence permit in mid-2013, setting the purchase threshold at €250,000 - the price of a small apartment in a seaside suburb of Athens or a villa in Crete or Rhodes. So far, there have been a few dozen applicants.

Europe's visa schemes are being scrutinised for potential abuse, within individual countries and across the continent. "Courting the world's moneyed elite by relaxing standard admission and naturalisation requirements may enrich the coffers of a country in the short run, but in the long haul it risks cheapening something far more important: citizenship itself," Ayelet Sachar, a Canadian law professor said in a working paper commissioned to inform the debate in Europe.