Passport by Investment Legislation
Passport by Investment programmes, formally known as citizenship by Investment (CBI) programs, are established under the laws and regulations of individual countries. The legal basis for these programs typically includes:
National Legislation
Countries create specific laws or amendments to existing citizenship laws that outline the requirements, processes, and benefits of obtaining citizenship through investment, such as the MCES regulation for Malta.
Government Decrees or Regulation
Some countries implement CBI through executive orders or governmental regulations that provide detailed procedures and criteria for applicants.
Investment Framework
The legal basis often specifies the types of investments eligible for CBI (e.g., real estate, business investment, government bonds) and the minimum investment amounts required.
International Treaties
Some CBI programs may be influenced by international agreements or treaties that establish frameworks for economic cooperation and immigration.
Due Diligence Requirements
Legal frameworks typically include provisions for background checks and due diligence processes to ensure the integrity of the applicant.