The European Union has concluded legal proceedings concerning Malta’s Citizenship by Investment (CBI) scheme, drawing widespread attention from international investors and high-net-worth individuals.
On 29 April 2025, the Court of Justice determined that granting citizenship primarily in exchange for financial contributions, without requiring a genuine link to the country, is incompatible with the values and legal obligations of EU membership. As a result, Malta is legally required to terminate the scheme.
Understanding the Context Around Malta’s Citizenship Program
Malta’s CBI program, commonly referred to as the “Golden Passport”, has offered individuals the opportunity to acquire Maltese and EU citizenship through financial contributions. The program has attracted attention for allowing citizenship with relatively limited requirements related to residency, language proficiency, or cultural integration.
Following this definitive judgment, Malta is legally obligated to terminate its CBI scheme. Current and prospective investors are advised to seek updated guidance, as the decision marks a turning point in how EU citizenship is granted and may influence the future of similar programs across the region.
Exploring Alternative Options: Residency by Investment Programs in Europe (2025)
As citizenship-by-investment programs gradually become increasingly restricted across Europe, individuals looking for access to the EU may find Residency by Investment (RBI) programs, often called Golden Visas, to be a reliable alternative. These programs provide a more structured, EU-aligned approach that emphasizes transparency, legal compliance, and economic contribution through residency rather than direct citizenship.
To assist in evaluating your options, we have prepared a Residency by Investment Comparison Table, which outlines the minimum investment thresholds and estimated processing times for key EU destinations:
Key takeaway: Investors should prioritize residency programs in Cyprus, Greece and Portugal which remain legally secure, fast, and widely accepted by local authorities and the EU.
The Caribbean Citizenship by Investment Programs: Fast and Stable (2025)
If your goal is fast-track citizenship, Caribbean CBI programs continue to dominate the global market with no known legal risks or restrictions from the EU or other jurisdictions.
Top recommendation: Vanuatu and Dominica remain the most cost-effective and fastest programs for individuals seeking global mobility, tax efficiency, and investment flexibility.
Best Citizenship and Residency by Investment Options in 2025
In light of the EU’s recent ruling on Malta’s citizenship program, investors may wish to explore other well-established and legally secure residency options. Cyprus stands out as a balanced, attractive, and investor-friendly choice for several key reasons:
- Fast-track residency within just 2-3 months, ensuring quick access to the European market and lifestyle.
- Competitive investment threshold of €300,000, offering real estate ownership and a clear pathway to long-term security.
- Stable, transparent, and EU-compliant framework, free from the controversies surrounding Malta’s citizenship program.
- Strategic geographical location, acting as a gateway between Europe, the Middle East, and Asia, making it an ideal base for global entrepreneurs and investors.
- On track to join the Schengen Area by late 2026, granting visa-free travel across 29+ countries in Europe.
For investors seeking peace of mind, Cyprus is currently the leading European destination, providing a stable residency route without exposure to legal risks or changing regulations.
How the Aspen Trust Group Can Support Your Global Mobility Goals
At the Aspen Trust Group, we have over 25 years of experience in international structuring, investment migration, and cross-border advisory services. Our team of qualified financial, tax, and legal professionals can assist you throughout your journey:
- Tailored advice on the Cyprus residency programs for your goals.
- Full support with application preparation, investment structuring, and due diligence.
- Assistance with real estate acquisition, tax planning, and relocation services.
- Compliance monitoring to ensure your investment meets the latest EU and international regulations.
With a proven track record of supporting global investors, the Aspen Trust Group is your trusted partner for safe, efficient, and strategic investment migration.