Henley & Partners, which, in 2013 designed Malta’s controversial cash-for-passports scheme, is drawing up a similar strategy for Moldova, selling passports to rich individuals.

In a statement, Henley & Partners announced it had just won a public tender, issued by the Moldova government, to “design, implement and internationally promote the much-anticipated Moldova citizenship-by-investment programme”, a technical name used for the sale of passports.

The Swiss company said it had teamed up with Dubai-registered MIC Holding Company, tasked with attracting investment into Moldova, a small eastern European country with a population of 3.5 million, to offer those interested in a gateway to many countries through the Moldovan passport system.

“Moldova offers its citizens visa-free access to 121 destinations, including all the countries in the EU’s Schengen area, but also Russia and Turkey,” Henley & Partners said.

It is not yet known how much Moldovan citizenship will cost passport buyers.

Sources told Times of Malta that although Moldova’s scheme was expected to mirror the one in Malta introduced by the same agents, a Maltese passport was still likely to be more attractive since the island was a member of the European Union.

Originally, the Maltese government had given Henley & Partners exclusivity on the sale of passports. However, following an uproar mostly from law and accountancy firms, the government decided to allow local agents to also sell passports.

Still, Henley & Partners were given the highest percentage of commission from the sale of every passport while also acting as promoter of Malta’s scheme abroad.

READ: Prime Minister takes Henley's advice to sell more Maltese passports

Prime Minister Joseph Muscat has often participated in sales conferences of Maltese passports around the world organised by Henley & Partners.

Moldova is considered by Transparency International as one of the most corrupt countries in the world and the most corrupt in Europe. According to the latest report, Moldova ranked 122nd among 180 examined. Malta was in 46th position.

Business anti-corruption portal, GAN, says Moldova’s business environment “is one of the most challenging in the region and is weakened by pervasive government corruption and a burdensome regulatory environment. The government lacks transparency and Moldova’s public officials commit acts of corruption with impunity.

The judiciary is one of the weakest in the world in relation to independence from the political elite and judges and prosecutors regularly extort bribes in exchange for reducing charges or imposing milder penalties.”

While aspiring to join the EU – it has already signed an association agreement with Brussels – Moldova was recently ‘punished’ for “systemic corruption” with the withholding of some €100 million in EU assistance.

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