In 2023, the European Commission initiated a landmark case against Malta over its controversial Golden Passports. This case has significant implications not only for EU member states but also for the global investment migration sector. At the heart of the issue is the right of an EU country to determine who is entitled to be one of its nationals and, by extension, who is a citizen of the European Union. Should this decision be the exclusive and sovereign right of individual member states, as provided by the Treaty on European Union, or should it be the EU that decides?

To explore these big questions, Juliette Foster speaks with Dr. Christian Kaelin, Chairman of Henley & Partners and one of the world’s leading experts on citizenship by investment.

About Dr. Christian H. Kaelin

Dr. Christian H. Kaelin, TEP, FIMC, serves as Chairman of Henley & Partners and is a leading authority on investment migration and citizenship-by-investment—an industry he helped shape. With advanced degrees in law and philosophy, he is a sought-after speaker and a trusted advisor to governments and international organisations. His extensive body of work includes authorship, co-authorship, and editorial contributions to key publications such as the Global Residence and Citizenship Handbook, Ius Doni: The Acquisition of Citizenship by Investment, the annual Kälin – Kochenov Quality of Nationality Index, and the Switzerland Business & Investment Handbook. He is also credited with conceptualising the passport index, having developed the renowned Henley Passport Index in collaboration with the International Air Transport Association, which has been published since 2006.

Recognised as the driving force behind the modern investment migration industry, Dr. Kaelin has been likened to Henry Ford’s role in the automobile industry—he didn’t invent citizenship by investment, but he played a pivotal role in standardising, globalising, and popularising it. Bloomberg has dubbed him the “Passport King,” while he is often referred to internationally as “Mr. Citizenship” for his pioneering contributions in both the academic and practical dimensions of modern citizenship.

Originally trained as a banker, Dr. Kaelin co-founded Arnova Capital, an investment management firm with a proven track record of consistent double-digit returns for over two decades. Additionally, he has founded and invested in multiple ventures, including SIP Medical Family Office, which has been operating since 1997.

Beyond business, he is deeply engaged in philanthropy, humanitarian initiatives, and social impact investing. He is the founder and chairman of the Andan Foundation, a Swiss non-profit under federal supervision, dedicated to supporting displaced communities. The foundation has forged key alliances with organisations like UNHCR and UNICEF and, in partnership with the Massachusetts Institute of Technology, established the Innovation for Refugee Inclusion Prize, an annual award of USD 100,000.

Publications

Ius Doni in International Law and EU Law

Citizenship and Human Rights – From Exclusive and Universal to Global Rights: A New Framework

Kälin – Kochenov Quality of Nationality Index

Switzerland Business & Investment Handbook: Economy, Law, Taxation, Real Estate, Residence, Facts & Figures

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