Russian businessman Albert Avdolyan has found a way to partially circumvent EU sanctions by obtaining a Maltese passport through a “golden” visa scheme. This controversial program, which allows individuals to purchase citizenship in exchange for a significant investment, is facing scrutiny from the European Court of Justice this week.
Avdolyan, who acquired his Maltese passport in 2015, is among a group of individuals who have been targeted by US, EU, or Ukrainian sanctions due to their ties to Russia’s war in Ukraine. Despite being hit with sanctions, Avdolyan can still travel to certain EU countries thanks to his Maltese citizenship.
The European Commission has been critical of Malta’s citizenship-for-sale scheme, arguing that it undermines the integrity of EU citizenship. The court is expected to rule on the legality of the program on Tuesday.
Critics of golden visa schemes argue that they provide a loophole for corrupt individuals to gain access to the EU and engage in illicit activities such as money laundering and tax evasion. Eka Rostomashvili of Transparency International expressed concerns about the program, stating that it serves as an “insurance policy” for some individuals facing potential legal troubles.
In Avdolyan’s case, he praised Malta for its reliability and peaceful environment when applying for citizenship in 2014. Despite being sanctioned by the EU for his business dealings with the Russian government, Avdolyan and his family can still travel to Malta and enjoy the benefits of EU citizenship.
The leaked documents from Henley & Partners, the company behind Malta’s golden visa program, reveal that the Avdolyans spent time in Malta following their residency approval. They rented properties managed by Henley, including a luxury apartment overlooking Valletta, and provided evidence of their stay through hotel and restaurant bills.
While the future of Malta’s golden visa scheme remains uncertain, the controversy surrounding the program highlights the challenges of balancing economic incentives with security concerns. As the European Court of Justice prepares to issue its ruling, the implications for individuals like Albert Avdolyan and others who have benefited from the program remain unclear. Avdolyan, a prominent figure in the business world, recently made a statement saying, “we refuse to make comments regarding the points indicated.” This decision comes in light of recent controversies surrounding individuals obtaining passports through questionable means.
One such individual is Pavel Melnikov, a Russian millionaire who obtained passports from Malta and St Kitts and Nevis with the assistance of Henley, according to leaked records. Melnikov’s legal troubles began in 2018 when Finnish authorities raided his properties in Turku and later sentenced him for tax and accounting fraud. As a result, his Maltese citizenship was revoked.
Melnikov is currently appealing his conviction in Finland and plans to challenge the revocation of his Maltese passport, claiming it was done “without legal grounds.” His lawyer, Kai Kotiranta, maintains Melnikov’s innocence, stating that he obtained his nationalities through legal means and clearances.
In response to the controversy, Melnikov clarified that he obtained his Maltese citizenship solely for the purpose of living and moving around Europe, not for tax benefits. He asserts that his passport was obtained legally, following all necessary requirements, and not through criminal activities.
Another individual caught up in a similar scandal is Semen Kuksov, who was recently jailed in the UK for laundering criminal funds. The Crown Prosecution Service revealed that Kuksov acted as a courier to collect and deliver laundered money overseas.
Following these revelations, Cyprus and Bulgaria discontinued their passport sales programs under pressure from the EU. However, Malta continues to defend its scheme, claiming to have strengthened due diligence checks and prohibited Russian and Belarusian citizens from obtaining its passports.
Critics like Matthew Caruana Galizia of the Daphne Caruana Galizia Foundation view Malta’s actions as undermining the principles of the EU. He believes that member states are eroding the EU’s common values by allowing schemes like the golden passport program to flourish.
In the US, President Donald Trump announced plans for a $5 million “gold card” program. Meanwhile, European countries such as Portugal, Spain, and Hungary offer residency permits for investment but not citizenship.
The tragic death of journalist Daphne Caruana Galizia, who exposed Malta’s golden passport scheme, underscores the dangers associated with such programs. Her son, Paul Caruana Galizia, now an FT reporter, is closely following the trial of two men implicated in her murder.
Henley & Partners, the company involved in facilitating passport applications, declined to comment on individual cases due to data protection concerns. They emphasized that stringent due diligence tests are in place, but individuals may still engage in illegal activities post-approval.
Campaigners express concern that a ruling in favor of Malta by the ECJ could encourage other countries to reintroduce or establish similar schemes. This could lead to a “race to the bottom” in terms of standards and checks, according to Rostomashvili.
In conclusion, the controversy surrounding passport schemes highlights the need for stricter regulations and oversight to prevent abuse and criminal activity. It is essential for countries to prioritize integrity and transparency in their citizenship programs to maintain the trust and credibility of the system. Artificial intelligence (AI) is a rapidly growing field that is revolutionizing the way we interact with technology. From self-driving cars to virtual assistants, AI is becoming increasingly integrated into our daily lives. One of the key areas where AI is making a significant impact is in the field of healthcare.
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