While the European Commission recently decided to open infringement proceedings against Cyprus and Malta regarding their investment-based citizenship programmes (see EUROPE 12585/12), it does not promise to go as far with regard to the investment-based residency programmes known as “golden visas”.
In a letter sent at the end of November to MEP Sven Giegold (Greens/EFA, Germany), who had asked her about the issue, European Commission President Ursula von der Leyen acknowledged that “golden visas” raise similar concerns to those raised by “golden passports” in terms of security, money laundering, and corruption, even if they do not lead directly to the acquisition of European citizenship.
However, she did not talk about opening infringement proceedings for these “golden visa” programmes, but merely stated that the Commission will continue to monitor them closely and that it is up to the Member States to carry out the necessary checks to identify and combat crime.
This answer failed to satisfy the MEP, who said in a press release that “doing nothing is an open invitation to criminals”.
“Golden passports and golden visas are equally contrary to European law and must be punished equally”, said Sven Giegold, recalling that Portugal alone has issued more than 25,000 golden visas to date, worth more than EUR 5.5 billion.
See the letter: https://bit.ly/36noxZg (Original version in French by Marion Fontana)