Arab Press

بالشعب و للشعب
Saturday, May 31, 2025

How a Maltese ‘golden passports’ firm lays on VIP service to clients

How a Maltese ‘golden passports’ firm lays on VIP service to clients

In 2014, the firm Henley & Partners prepared to welcome an important person to Malta. The client would arrive by private jet, sweep through the airport’s ministerial lounge and be taken in a S-class Mercedes to Le Méridien St Julien’s, a luxury seafront hotel with a Mediterranean view.

Nothing was too much. The company even sought a private tête-à-tête with Malta’s then prime minister, Joseph Muscat. “Is the PM available next week, or would that not be appropriate at this stage?” a manager at the firm wrote in an email, promising the “highest of confidentiality” and a “Rolls-Royce” service.

The special VIP guest wasn’t an EU chief or head of state. It was Irina Abramovich, the ex-wife of the Russian billionaire and Chelsea FC owner, Roman Abramovich. Roman Abramovich is also a one-time Kremlin official and a Vladimir Putin ally who served for eight years as governor of Chukotka, a remote territory in Russia’s frozen far east.

Irina Abramovich was one of 851 wealthy Russians to seek Maltese citizenship under a controversial programme facilitated by Henley & Partners, according to a leak of the firm’s data shared with the Guardian. After due diligence and the transfer of €650,000, plus the rental or purchase of a property in Malta, an EU passport could be obtained in just 12 months.

The “golden passports” scheme is one of several run by Henley from more than 30 offices around the world. It helps to sell citizenship in nine territories: Malta and Austria – both EU states – as well as the small Caribbean nations of St Kitts and Nevis, Grenada, Dominica, St Lucia, and Antigua and Barbuda, plus Turkey and Montenegro.

Clients are the uber-wealthy: high net worth individuals who may want visa-free access to the EU. The mastermind is Henley’s charismatic chairman, Dr Christian Kälin, nicknamed the “passport king”. A Swiss lawyer, he has transformed Henley from a sleepy firm of wealth advisers into a leading player in a sharp-elbowed $3bn (£2.3bn) global industry.

Kälin’s method was ingenious. He approached cash-strapped governments, typically in tiny tropical nations, and offered to set up citizenship-by-investment programmes on their behalf. Henley often designed a scheme. It then typically implemented it and acted as exclusive agent. The firm raked in a fee from each applicant, earning tens of millions of dollars.

After winning a contract with St Kitts in 2006, Kälin successfully pitched Malta’s ruling Labour party. The country’s “individual investor programme” (IIP) launched in 2013. It has so far had 2,325 applicants, mostly Russians but also Chinese, Saudis and others.

Rival firms have since been contracted to work as agents on the investor programme, but Henley is understood to control the lion’s share of business. It works hand in glove with Malta’s government, with ministers contractually obliged to promote the scheme.

The EU commission has clashed repeatedly with Malta over the issue of golden passports. It has begun infringement proceedings. As the commission’s president, Ursula von der Leyen, put it, “European values are not for sale.” She worries that such schemes are attractive to high-risk individuals seeking entry to the EU, or could be exploited by some for tax evasion or money laundering. Most applicants do not have genuine links with the country, the commission argues.

By way of response, Malta has in effect told Brussels to get lost. It says citizenship is the prerogative of individual EU states. Muscat and his cabinet, meanwhile, energetically boosted Henley’s scheme at seminars and roadshows – in London, Dubai, Hong Kong and Singapore. Henley says the cash has provided a huge boost to Malta’s once indebted economy, bringing in €850m by 2020. It has led to social and healthcare investment and is a win-win, it says.

In order to qualify, Irina Abramovich had to jump through a few hoops. Henley helped her open a local bank account and find a modest seaside apartment in the town of Sliema, north of the capital, Valletta, with a year’s rent paid upfront. The firm liaised with Identity Malta, now known as Community Malta, the government agency that handles passport approvals.

Henley insists it carries out the world’s strictest background checks, saying its vetting checks “match or exceed those of adjacent professional services such as law firms and banks.” Its files, to an extent, confirm a more pro-active approach than the firm’s critics might fear. In some cases, clients are turned away on the basis of tax disputes in their home countries, or advised that negative press means the Maltese government is unlikely to approve their application.

Other instances are less clear cut, in part because there may be grey areas. In spring 2014, Abramovich applied for a passport for herself and three family members. She gave a home address in London. Funds for her application came from a 2007 divorce settlement, she said – in other words, from her high-profile ex-husband.

All applicants are asked to declare if they are “politically exposed persons”, or PEPs, a status that triggers enhanced vetting. In internal correspondence, Henley acknowledges that, according to its checks, Abramovich is a PEP. On an application form, however, she appears to answer “no” to an “are you a PEP?” question. It’s unclear why the discrepancy arose and whether it was remedied, though Henley apparently did not levy a surcharge usual in PEP cases. Abramovich did not respond to requests for comment.

Spurious claims


The leaked documents also reveal the highly artificial nature of the golden passports scheme. They suggest that for many applicants, claims to nationality based on a genuine link to Malta may be largely spurious or superficial.

The documents appear to confirm the EU’s suspicions: few seem to have substantial or lasting ties with the country.

In theory, they are meant to be resident for 12 months. But the scheme does not require them to be “physically present”. In other words, they can qualify legally as residents without really living there. Many spend as little time as possible in Malta. Some rich individuals fly in just twice: once to collect a residency card; the second time to swear an oath of allegiance and to pick up a new EU passport.

The leaked data suggests would-be citizens spend on an average less than three weeks in Malta before securing their passport.

Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
European and Arab Ministers Convene in Madrid to Address Gaza Conflict
Head of Gaza Aid Group Resigns Amid Humanitarian Concerns
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
Netanyahu Accuses Starmer of Siding with Hamas
Calls Grow to Resume Syrian Asylum Claims in UK
UAE Offers Free ChatGPT Plus Subscriptions to Citizens
Denmark Increases Retirement Age to 70, Setting a European Precedent
Iranian Director Jafar Panahi Wins Palme d'Or at Cannes
Israeli Airstrike Kills Nine Children of Gaza Doctor
Lebanon Initiates Plan to Disarm Palestinian Factions
Iran and U.S. Make Limited Progress in Nuclear Talks
Trump Administration's Tariff Policies and Dollar Strategy Spark Global Economic Debate
OpenAI Acquires Jony Ive’s Startup for $6.5 Billion to Build a Revolutionary “Third Core Device”
Turkey Weighs Citizens in Public as Erdoğan Launches National Slimming Campaign
UK Suspends Trade Talks with Israel Amid Gaza Offensive
Iran and U.S. Set for Fifth Round of Nuclear Talks Amid Rising Tensions
Russia Expands Military Presence Near Finland Amid Rising Tensions
Indian Scholar Arrested in Crackdown Over Pakistan Conflict Commentary
Israel Eases Gaza Blockade Amid Internal Dispute Over Military Strategy
President Biden’s announcement of advanced prostate cancer sparked public sympathy—but behind closed doors, Democrats are in panic
Mount Lewotobi Laki-Laki Erupts Again, Spewing Ash Cloud over Flores Island
Indian jet shootdown: the all-robot legion behind China’s PL-15E missiles
The Chinese Dragon: The True Winner in the India-Pakistan Clash
Australia's Venomous Creatures Contribute to Life-Saving Antivenom Programme
The Spanish Were Right: Long Working Hours Harm Brain Function
Did Former FBI Director Call for Violence Against Trump? Instagram Post Sparks Uproar
US and UAE Partner to Develop Massive AI Data Center Complex
Apple's $95 Million Siri Settlement: Eligible Users Have Until July 2 to File Claims
US and UAE Reach Preliminary Agreement on Nvidia AI Chip Imports
President Trump and Elon Musk Welcomed by Emir of Qatar Sheikh Tamim with Cybertruck Convoy
Strong Warning Issued: Do Not Use General Chatbots for Medical, Legal, or Educational Guidance
NVIDIA and Saudi Arabia Launch Strategic Partnership to Establish AI Centers
Trump Meets Syrian President Ahmad al-Shara in Historic Encounter
US and Saudi Arabia Sign Landmark Agreements Across Multiple Sectors
Why Saudi Arabia Rolled Out a Purple Carpet for Donald Trump Instead of Red
Elon Musk Joins Trump Meeting in Saudi Arabia
Trump says it would be 'stupid' not to accept gift of Qatari plane
Quantum Computing Threatens Bitcoin Security
Michael Jordan to Serve as Analyst for NBA Games
Senate Democrats Move to Censure Trump Over Qatar Jet Gift
Hamas Releases Last Living US Hostage from Gaza Amid Ongoing Conflict
×