As the European Court of Justice (ECJ) prepares to issue its much-anticipated verdict on Malta’s Citizenship-by-Investment (CBI) programme, the debate surrounding investment migration has been reignited. The stakes are immense, and the implications of the ruling will reverberate across Europe and beyond. At the core of the issue lies a fundamental question: will the European Union uphold Malta’s sovereignty in determining its naturalisation policies?

Malta has long been a trailblazer in structured investment migration, offering a gateway for individuals of exceptional talent and wealth to contribute meaningfully to its economy. The cumulative wealth of applicants assisted by Latitude Consultancy under Malta’s CBI programme exceeds tens of billions of dollars. These investors not only inject significant financial capital but also create jobs, establish businesses, and bring international networks that reinforce Malta’s standing as a global hub for talent. These economic benefits extend beyond Malta, stimulating other European economies through trade, tourism, and cross-border business ventures.
In November, the Advocate General advised dismissing the case against Malta and even recommended that the EU bear Malta’s legal costs. This stance underscores the programme’s legitimacy and the principle that member states retain the sovereign right to determine their own citizenship policies. While Malta welcomes the Advocate General’s perspective, recovering legal costs is not viewed as the primary victory. The true success lies in reaffirming Malta’s right to attract talent and investment within a structured and transparent framework that benefits both the nation and Europe as a whole.


The ECJ’s decision will undoubtedly be closely scrutinised. However, Malta’s commitment to its sovereignty remains resolute. Regardless of the court’s ruling, Malta will continue to determine who it naturalises. The real question is not whether Malta will naturalise investors but how it will do so. Will it retain its current structured and transparent approach, or will it be compelled to adopt less formalised routes akin to those of other European countries, where investors gain citizenship without clear criteria? Malta believes that maintaining a structured pathway is the most ethical and transparent solution, ensuring accountability, proper due diligence, and measurable benefits for the nation.


Critics often raise ethical concerns about CBI programmes, questioning the morality of granting citizenship in exchange for investment. To such sceptics, we pose a question: if attracting wealth, talent, and networks is objectionable, what alternatives should nations pursue to advance their interests? Should they cling to exploitative systems that breed corruption and cronyism, or should they adopt transparent, structured pathways for progress? Residence and citizenship programmes uplift economies, create opportunities, and foster international collaboration. Malta’s CBI programme, in particular, serves as a beacon of integrity in this field, offering transparency and tangible benefits for its citizens and investors alike.
Individuals from the United States and other countries are welcomed with open arms when they choose to invest in Malta. In return, they are granted the privilege of calling Malta their second home—a bond rooted in mutual respect and shared prosperity. Malta remains committed to attracting individuals who are eager to contribute positively to its society while embracing its culture and values.
As we await the ECJ’s decision, Malta’s message is unequivocal: its sovereignty is non-negotiable, and its commitment to structured progress is unwavering. Who wouldn’t welcome Silicon Valley executives establishing a European presence? For those seeking expert guidance on this journey, Latitude Consultancy stands as a trusted advisor, providing unparalleled expertise in investment migration. Latitude is not just a facilitator but an advocate for the values underpinning these programmes—sovereignty, growth, and shared prosperity.
About Ryan Darmanin
Highlights:
- Over a decade of experience in the investment migration industry
- Lead contributor to the launch of Malta’s Individual Investor Programme (IIP) in 2014—the only citizenship programme endorsed by the European Commission
- Assisted hundreds of high-net-worth individuals (HNWIs) in securing residence or citizenship in Malta
Ryan Darmanin has been instrumental in assisting hundreds of individuals and families seeking alternative residence and citizenship in Malta over the past eight years. Prior to joining Latitude, Ryan played a pivotal role in the successful management of Malta’s Individual Investor Programme (MIIP). He subsequently led the real estate arm of the business, managing a growing team in Malta that supported clients with property acquisitions, property management, and other key services integral to residence and citizenship planning.
Before entering the investment migration industry, Ryan spent seven years with HSBC, specialising in customer experience excellence and employee engagement. His earlier career was in the hospitality industry, where he worked with several international hotel chains.
Ryan holds a degree from the University of Wales, Cardiff, and is a member of the Institute of Financial Services Practitioners. Passionate about lifelong learning, he is a strong advocate for personal development and believes in the power of universal laws as guiding principles in both personal and professional growth.
For the original article go to: https://imglobalwealth.com/articles/the-sovereignty-question-maltas-cbi-programme-at-a-crossroads/