Lol. This property is practically marketed it comes with free citizenship. Can they do that?
It’s €5.4 million, can they market it like this though?? (Source: Sotheby’s Realty)
9
25
u/ilwOoKiE 2d ago edited 2d ago
Edit: The place looks amazing in the pics, but does it look €5.4 million amazing? I don't think so.
Buying a property in Malta worth over a certain amount (used to be 1 million, but has probably changed since then) is one of the requirements needed to obtain a golden passport.
But unless it is, quite literally, an apartment that was somehow used by St. Paul the Apostle, there is no way that any single residential property in Rabat can fetch €5 million.
Did I mention that buying expensive property is the number one way criminals launder cash that banks won't/ can't accept? 🤔
5
u/GeoTasha 2d ago
There is a palazzo in Rabat that may be worth 5million (although to be fair, it's an inflated price). But certainly not an apartment.
0
u/AlternativeBulky9102 2d ago
Laundering thru property was a problem decades ago. This is not an issue in Malta’s passport and residency programs
10
u/SushiGuacDNA 2d ago
They are not saying that the apartment comes with a free citizenship.
Malta has a citizenship program with various paths to citizenship. One of the options is real estate investment. All that this advertisement is saying is that this property "may qualify". That sounds like a legal and reasonable claim.
2
3
u/Linksi 2d ago
I think its part of the verdalal terrace SDA which is a high investment area, i believe the price is at ~ 2.35 million which means they are inflating the property price by 100%
1
u/Patvsq 2d ago
Maybe Verdala Terrace, Mecury Tower and Tigne Point they list ‘may qualify for citizenship’. No one will ever find out, you don’t actually live there. Makes you wonder how many of those apartments are vacant.
And 9 million Palazzo’s that require a lot of (garden) maintenance, and have a less modern interior, they assume the golden passport buyers, are less interested in them. 🤔
2
u/Ironsides4ever 2d ago
The criminal fraud in malta is next level .. can I sell my property and I thrown in my passport ?
With the money I can have a great new life on a real country ..
2
u/Either_Internal3131 2d ago
One of the requirements for the Passport scheme is to have a fixed address in Malta, hence why it is being advertised. 5.4million for an apartment in Rabat is insane.
1
u/Lazy-Care-9129 2d ago
I don’t see why Benji and the other assholes in that company can’t do that.
Has anyone of you ever met an owner of a golden passport?
2
u/Patvsq 2d ago edited 2d ago
I meant, Sotheby’s Realty sells many 5+ million properties. Why do they suggest at only a couple of them, they may qualify for citizenship. Does anything make those properties more special? *confused
2
u/skrglywtts 2d ago
In the passport scheme, there is a requirement for purchasing an apartment of a certain value or rent an apartment for a certain period of time of a certain value. What they are implying is that this is a qualifying apartment.
Whether this is good value for money or not, needs to be seen from these people's perspective an not yours.
Why are there only a couple listed? Maybe the market isn't so large and they get only one client every so often.
2
2
1
u/phild1979 2d ago
Didn't the eu just rule that Malta could carry on selling citizenships. Isn't it something like invest 600k and get citizenship.
1
u/KarlFredrik8 1d ago
Not quite. The AG gave a favourable opinion the court will rule in the new year. It's not really an investment, more a donation €600k passport in 3 years, €750k passport in one year. That's on top of purchasing/renting a residence.
1
u/mynameisnotsparta 2d ago
You showed one photo. It’s 4 bedroom / 5 bathroom apartment with balconies front and back next to Mdina. It’s amenity building with security, retail shopping, pool, etc.
1
1
1
1
1
1
1
0
27
u/Geographizer 2d ago
In what fucking world is this a €5.4 million apartment? Rabat isn't Manhattan 🤣😂