The richest family of Saudi Arabia bought 62 EU passport

KIEV. 29 Dec. UNN. The members of the two richest families in Saudi Arabia became “the Maltese and EU citizens” buying in Malta 62 passport. About this UNN reports quoting Times of Malta.

The family of al-Muhaidib and al-Agils, which are one of the richest families on the planet, became Maltese in 2017.
Local newspaper found the names of the 62 members of the Saudi families in the list of new citizens of Malta published in the government Gazette on the day. It is noted that most of the Saudis who obtained citizenship of Malta, minors.

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Times of Malta notes that citizenship has cost millions of euros.

It is noted that the family of al-Muhaidib was founded in 1946 and is engaged mainly in construction materials and food. The head of the family Suleiman al-Muhaidib, whose personal fortune in excess of € 3 billion, acquired a Maltese passport last year, along with 34 other members of the family, including his brothers, spouses and their families.
The family of al-Agils, which controls a business Empire Jarir Group, worth more than € 1.5 billion, bought the 27 Maltese passports.

Help UNN: according to open sources Malta offers a program of obtaining citizenship in exchange for investments. Conditions for obtaining citizenship: a contribution in the amount of 650 thousand Euro in the national development Fund (+ 25 to 50 thousand euros for each family member); the purchase of government bonds by 150 thousand euros (350 thousand euros) or renting (from 16 thousand Euro / year for 5 years) of real estate. Also there is a condition that the lead investor must be an adult.