By Oliver Said, CEO | Endevio
October 2, 2024
Tomorrow, October 3, 2024, all eyes will be on the Advocate General’s non-binding opinion in the ongoing legal battle between Malta and the European Commission over Malta’s Citizenship by Investment (CBI) programme. Primarily, this pivotal moment has drawn significant attention from both EU policymakers and the international investment community, as the outcome could reshape the future of such programmes across Europe.
At the core of the case is Malta’s assertion of its sovereign right to grant citizenship, with the government defending the rigorous due diligence measures embedded within its CBI framework. Meanwhile, the European Commission contends that the programme undermines the integrity of EU citizenship by not requiring a “genuine link” between applicants and the granting state.
Essentially, the Advocate General’s opinion, although non-binding, carries considerable weight and is often a strong indicator of the European Court of Justice’s (ECJ) final ruling. Subsequently, the ECJ will deliberate after this opinion is delivered, with a final decision expected towards the end of 2024 or early 2025.
In conclusion, the implications of this case go beyond Malta, touching on the balance of national sovereignty within the European Union and the evolving nature of citizenship in a globalised world. For now, anticipation builds as we await the Advocate General’s thoughts, which could influence the legal and political landscape of Europe’s Citizenship by Investment and Residency by Investment programmes.
Stay tuned for tomorrow’s developments, where we will provide a detailed update based on the Advocate General’s findings.