𝑨𝒏 𝒐𝒑𝒊𝒏𝒊𝒐𝒏 𝒑𝒊𝒆𝒄𝒆 𝒑𝒆𝒏𝒏𝒆𝒅 𝒇𝒐𝒓 𝑰𝑴𝑮𝑾 𝑵𝒆𝒘𝒔 𝒃𝒚 𝑹𝒚𝒂𝒏 𝑫𝒂𝒓𝒎𝒂𝒏𝒊𝒏, 𝑪𝑶𝑶 & 𝑴𝒂𝒏𝒂𝒈𝒊𝒏𝒈 𝑫𝒊𝒓𝒆𝒄𝒕𝒐𝒓 𝒐𝒇 𝑳𝒂𝒕𝒊𝒕𝒖𝒅𝒆 𝑴𝒂𝒍𝒕𝒂.
In 2023, approximately 1.1 million individuals acquired citizenship in European Union (EU) countries, marking a 6.1% increase from the previous year. The majority of these new citizens came from non-EU countries, with Syrians (107,500), Moroccans (106,500), and Albanians (44,400) leading in numbers. Spain, Italy, and Germany were the top three countries granting citizenship, collectively accounting for over 60% of the total*.
Yet, while over a million people were naturalised in Europe—often through processes with minimal vetting and integration—the European Commission continues to fiercely oppose Citizenship by Investment (CBI) programmes, a pathway that represents less than 1% of all naturalised individuals who have gone through a rigorous due diligence process. The scrutiny applied to CBI stands in stark contrast to the leniency of traditional naturalisation, raising the question: Why the double standard?
“If Europe wants to remain a global leader in attracting talent and investment, it must rethink its stance and embrace investment migration as a legitimate tool for growth.“
Trump’s Gold Card vs. European Opposition
Despite widespread opposition to Donald Trump, one of the first initiatives of his new term—within his first 100 days in office—was proposing a ‘Gold Card’, a Residence by Investment (RBI) programme designed to attract foreign direct investment. This move underscores a critical point: even the world’s largest economy sees the strategic value in investment migration.
Meanwhile, the EU remains resistant to such programmes, despite clear evidence that they can serve as powerful economic drivers. By dismissing these models outright, the European Commission is ignoring structured, well-regulated pathways that could support economic growth. The EU’s resistance is a policy oversight and a missed economic opportunity.
Reframing Investment Migration as a Strategic Economic Tool
The time has come to move beyond outdated rhetoric and recognise Citizenship and Residence by Investment for what they were originally designed to do: attract top-tier talent and foreign capital. These programmes are not simply about granting status; they generate economic growth, drive investment, and enhance global connectivity.
The European Commission is failing to see the bigger picture by clinging to ideological objections rather than economic realities. Other regions—including the US, the UK (through investor visa schemes in the past), and even certain EU countries prior to regulatory pressure—have demonstrated how well-structured investment migration can bring tangible benefits. Change in Europe is likely on the horizon.
“Welcoming 1.1 million new citizens annually is a testament to the EU’s commitment to diversity and inclusion.”
Latitude: More Than Just a Consultancy—A Bridge for Economic Growth
Firms like Latitude go beyond simply facilitating CBI and RBI applications. They actively connect high-net-worth individuals with nations that not only value their financial contributions but also recognise their potential to drive long-term investment and economic synergies. Investment migration, when properly structured, ensures programmes deliver real economic benefits rather than merely functioning as citizenship transactions.
Beyond Citizenship: Transformative Investments in Malta
Malta is a prime example of a jurisdiction where CBI has been misunderstood and misrepresented by EU regulators. Yet, experience has shown that certain investors go well beyond the minimum requirements, channelling their wealth into strategic projects that significantly impact Malta’s GDP. Whether through real estate, business ventures, public-private partnerships, or infrastructure investments, these initiatives fuel economic progress and create long-term value.
The Maltese government’s steadfast stance on maintaining Residence and Citizenship by Investment programmes reflects a deep understanding of global economic dynamics and the need to remain competitive. Standing firm against external pressure is not merely an act of defiance but a commitment to securing the country’s long-term economic resilience.
Challenging the Moral High Ground
Critics often argue that citizenship should not be ‘sold’, but this perspective oversimplifies the reality. Making a financial contribution to a nation upfront is no less valid than contributing over time. Both pathways—whether through years of residence or an investment-based approach—lead to the same outcome: integration, meaningful participation and contribution to society.
Investment migration does not undermine national identity; it strengthens economies and fosters international cooperation. The EU has already demonstrated its commitment to welcoming new citizens, as evidenced by its naturalisation figures. The same recognition should be extended to individuals who secure citizenship through investment while making direct, significant contributions.
Guiding High-Net-Worth Individuals and Nations
Investment migration firms play a crucial role in shaping sustainable, transparent, and mutually beneficial migration policies. The focus should not be on dismantling these programmes but on regulating them effectively to ensure they deliver on their economic potential.
Welcoming 1.1 million new citizens annually is a testament to the EU’s commitment to diversity and inclusion. Similarly, those who obtain Citizenship by Investment—though far fewer in number—bring substantial economic benefits. Recognising this reality and ensuring their integration into the European framework is essential.
With experience spanning a decade, including contributions to the launch of Malta’s Individual Investor Programme (IIP), Ryan Darmanin and his colleagues at Latitude work with both investors and governments to ensure that Residence and Citizenship by Investment are leveraged not only for individual benefit but for national prosperity.
Conclusion: Time for a Pragmatic Shift
𝑬𝒖𝒓𝒐𝒑𝒆 𝒇𝒂𝒄𝒆𝒔 𝒂 𝒄𝒓𝒊𝒕𝒊𝒄𝒂𝒍 𝒅𝒆𝒄𝒊𝒔𝒊𝒐𝒏: 𝒓𝒆𝒎𝒂𝒊𝒏 𝒆𝒏𝒕𝒓𝒆𝒏𝒄𝒉𝒆𝒅 𝒊𝒏 𝒓𝒊𝒈𝒊𝒅 𝒐𝒑𝒑𝒐𝒔𝒊𝒕𝒊𝒐𝒏 𝒐𝒓 𝒂𝒅𝒐𝒑𝒕 𝒂 𝒑𝒓𝒂𝒈𝒎𝒂𝒕𝒊𝒄 𝒂𝒑𝒑𝒓𝒐𝒂𝒄𝒉 𝒕𝒉𝒂𝒕 𝒂𝒄𝒌𝒏𝒐𝒘𝒍𝒆𝒅𝒈𝒆𝒔 𝒕𝒉𝒆 𝒗𝒂𝒍𝒖𝒆 𝒐𝒇 𝒊𝒏𝒗𝒆𝒔𝒕𝒎𝒆𝒏𝒕 𝒎𝒊𝒈𝒓𝒂𝒕𝒊𝒐𝒏. 𝑻𝒉𝒆 𝒆𝒄𝒐𝒏𝒐𝒎𝒊𝒄 𝒓𝒂𝒕𝒊𝒐𝒏𝒂𝒍𝒆 𝒊𝒔 𝒄𝒍𝒆𝒂𝒓, 𝒕𝒉𝒆 𝒎𝒐𝒅𝒆𝒍𝒔 𝒆𝒙𝒊𝒔𝒕, 𝒂𝒏𝒅 𝒕𝒉𝒆 𝒅𝒆𝒎𝒂𝒏𝒅 𝒑𝒆𝒓𝒔𝒊𝒔𝒕𝒔. 𝑰𝒇 𝑬𝒖𝒓𝒐𝒑𝒆 𝒘𝒂𝒏𝒕𝒔 𝒕𝒐 𝒓𝒆𝒎𝒂𝒊𝒏 𝒂 𝒈𝒍𝒐𝒃𝒂𝒍 𝒍𝒆𝒂𝒅𝒆𝒓 𝒊𝒏 𝒂𝒕𝒕𝒓𝒂𝒄𝒕𝒊𝒏𝒈 𝒕𝒂𝒍𝒆𝒏𝒕 𝒂𝒏𝒅 𝒊𝒏𝒗𝒆𝒔𝒕𝒎𝒆𝒏𝒕, 𝒊𝒕 𝒎𝒖𝒔𝒕 𝒓𝒆𝒕𝒉𝒊𝒏𝒌 𝒊𝒕𝒔 𝒔𝒕𝒂𝒏𝒄𝒆 𝒂𝒏𝒅 𝒆𝒎𝒃𝒓𝒂𝒄𝒆 𝒊𝒏𝒗𝒆𝒔𝒕𝒎𝒆𝒏𝒕 𝒎𝒊𝒈𝒓𝒂𝒕𝒊𝒐𝒏 𝒂𝒔 𝒂 𝒍𝒆𝒈𝒊𝒕𝒊𝒎𝒂𝒕𝒆 𝒕𝒐𝒐𝒍 𝒇𝒐𝒓 𝒈𝒓𝒐𝒘𝒕𝒉.
*Data Source: Link
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