Citizenship has developed over time, from territorial and sovereign origins to a commodity that countries can market to prospective citizens. An example of this development are so-called ‘golden passports’ or ‘golden visas’ which refer to acquisition of citizenship policies developed by countries seeking to attract wealthy people to become residents or citizens. The most common terminology for these schemes are Citizenship by Investment (CBI) and Residence by Investment (RBI) respectively. Despite the prevalence of these schemes worldwide, they have sparked controversy within the European Union (EU), particularly since Malta’s launch of its Individual Investor Programme in 2013. Among other concerns, arguments have been made that this method of acquisition of citizenship devalues EU citizenship broadly.
In order to probe this question of the value, validity, and nature of citizenship, the paper employs a historical analysis of the dual concepts of citizenship and nationality, and examines the legal frameworks for acquisition of citizenship at general international law, and in the EU. Drawing on the Maltese CBI scheme, it analyses the changing dynamics of citizenship in a globalized world and the impact of this change (and these schemes) on the perceived value of EU citizenship.
It is ultimately concluded that CBI schemes in the EU do not devalue EU citizenship. This is drawn from three arguments: first, the meaning and content of citizenship has become increasingly varied, abstract and globalised, extending beyond traditional state boundaries and notions of kinship or loyalty. Second, EU citizenship itself is a modern, cosmopolitan identity that is less dependent on the traditionally citizenship links of territorial or familial ties. Third, the EU’s CBI schemes, including Malta’s, align with contemporary understandings of citizenship and meet the necessary requirements for nationality to be effective, distinguishing them from other, less onerous CBI models. In this way, it underscores that modern citizenship and methods of acquisition of nationality are developing and adaptable, and these schemes reflect the modern, dynamic nature of citizenship – in the EU, and abroad.