The government has stated that the citizenship scheme has the potential of generating billions from foreign investment and

raising millions more in revenue for the economy.

I assume that the billion referred to is the US definition of 1,000,000,000 units. In the UK another three zeroes should be added.

The government should publish its figures indicating how much it expects to receive from this scheme.

Assuming that the full quota of 1,800 applicants will be attracted, all that they can guarantee is the sum of 1.17 billion from the initial contribution plus the additional fees for their wives and children, stamp duty on property and possible interest from stocks and bonds over the five-year period, all of which is unlikely to amount to more the €2 million. However, after five years, an applicant would be able to sell the property, redeem the stocks and bonds and take no further interest in the economy or welfare of Malta. If property has been purchased by an applicant, it could be leased to others to the benefit of the owner.

Since an applicant will be issued with a Maltese passport allowing backdoor entry to Europe and the US on approval of the application, I suggest that it is more likely that investment would be made in more lucrative economies.

An obligation for a minimum amount of investment and a period of permanent residency should be an integral part of the scheme.