This article analyses the recent ruling in Commission v Malta where the Court of Justice found a citizenship by investment scheme operated by Malta (Golden Passports) to be incompatible with EU law. It argues that the most important feature of the ruling rests in the forceful assertion of the tangible existence of a Union of values, membership of which cannot be reconciled with the commodification of its identity and of its polity. The ruling then provides a vision of the essential elements of both Union citizenship and EU membership: solidarity, democracy, mutual trust and the other foundational values specified in Article 2 TEU.