Financial practitioners are objecting to how the Government is planning a scheme to sell citizenship to wealthy individuals, fearing they will be pushed out of business.

A meeting for financial services practitioners organised by Identity Malta – the new government agency behind the scheme – turned into a shouting match.

Programme concessionaires Henley & Partners will be responsible for receiving, processing and making recommendations to Identity Malta and all Maltese practitioners will have to act as its agents to have their applications processed.

“Henley & Partners have been given all the work and we have to submit our applications to this foreign company. So what’s the use of clients coming to us when they can go directly to Henley & Partners?,” a financial operator complained.

Full story in The Times of Malta and the e-paper on timesofmalta.com Premium.

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