The European Commission urges Member States to put an end to the practice of granting citizenship or residence permit in exchange for an investment.
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While Europeans have multiplied sanctions against Russians and Belarus, they are now looking to ensure that they are not bypassed. The “holes in the racket”, recognizes the Commission, are numerous: companies screens, loan names, passports or “golden” visas, which may benefit certain oligarchs.
Monday, March 28, the Community Executive urged the twenty-seven to remove these documents. “Some Russian or Belarus nationals who are subject to sanctions or support the war in Ukraine may have acquired the citizenship of the European Union [EU] or privileged access to the Union, including to travel freely in space Schengen “, explained the commission.
In recent years, several EU countries offer citizens from third countries citizenship or a residence permit in exchange for an investment on their part. According to the European Parliament, “between 2011 and 2019, 42,180 requests for citizenship programs / residence against investment have been approved, and more than 132,000 people, including members of the family of applicants from third countries” in benefited, “and this, for a total investment estimated at 21.4 billion euros”.
“a stolen door”
Three countries sold, until recently, “golden passports”: Cyprus, Malta and Bulgaria. Since the Commission has launched an infringement procedure on this subject against the first two in October 2020, things have evolved. Nicosia put an end to this procedure the November 2020 and continues its investigations into the naturalizations it has previously granted. Following the triggering of the war in Ukraine, the Bulgarian Parliament voted the abolition of this plan on March 24th. A few days earlier, Malta had suspended “until new order” the access of the Russians and Belarus to these precious sesames.
On the other hand, the countries within the EU who offer a “gilded visa” – that is, a residence permit against investment – remain numerous. The Commission in account nineteen – Bulgaria, Spain, Estonia, Ireland, Greece, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Czech Republic and Slovakia – ” With minimum investment levels ranging from 60,000 euros (Latvia) to 1,250,000 (Netherlands), “says the European Parliament. Monday, the Latvian government has announced that it would repeal this legislation.
“These programs only serve to provide a stolen door to enter the EU with suspicious individuals who can not enter through the great door. The time has come to close this door, so that the Russian oligarchs and Other people with dirty money stay out “, Judge Liberal MEP (Renew) Sophie In’t Veld. The Netherlands elected is the lattice of a report inviting the Commission to act, which was adopted by the European Parliament on 9 March, by 595 votes (12 against, 74 abstentions).
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