Billionaire Silicon Valley investor Peter Thiel is in the process of acquiring Maltese citizenship, report says
Among these plans is Maltese citizenship, a popular passport among the ultra-wealthy looking for access into the EU. It's one of the only European Union member states left with a"golden passport" program, where foreigners can receive citizenship in exchange for investing over $700,000 into the local economy.
A spokesperson for the Thiel Foundation did not immediately respond to Insider's request for comment.has skyrocketed over the past three years as US billionaires, tech entrepreneurs, and celebrities look to create a"plan B" for their families, multiple investment migration firms told Insider in May.
"We see these programs as an insurance policy," Ezzedeen Soleiman, a managing partner at Latitude Residency & Citizenship, said."We've had some billionaires approach us and ask what's the best place to live if there's a climate catastrophe, or if there's another storm, or another global pandemic." Malta's program might not be around much longer if the EU has its way. The European Commission, which has, announced last month that it's taking Malta to court over the nation's refusal to dissolve the scheme.
Thiel may have already ruined his chances by listing his Malta apartment on Airbnb, according to the Times, as applicants are barred from renting out their residences before the citizenship process is finalized. Axel Springer, Insider Inc.'s parent company, is an investor in Airbnb.Subscribe to push notifications
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