The European Commission has issued a recommendation to Member States on the granting and withdrawal of “golden passports and visas”, which refer to citizenship or residency programmes in exchange for investment.
First, the Commission calls on Member States to end the granting of golden passports. Three countries are or have been involved in this programme: Cyprus abolished its golden passport programme in 2020; Bulgaria is in the process of doing the same (see EUROPE 12918/37); Malta suspended, on 2 March, golden passports for Russian and Belarusian nationals only (see EUROPE 12902/10).
The European Commission also recommends analysing whether passports granted in the past to Russians and Belarusians in exchange for investments should be withdrawn when these people are subject to EU sanctions or if they support the war in Ukraine or any activity linked to the Russian or Belarusian government.
On golden visas, the Commission requires strict checks to be carried out before issuing them, to avoid risks in terms of security, money laundering, tax evasion and corruption.
Golden visas should be withdrawn, or not renewed after assessment, from Russian and Belarusian citizens subject to EU sanctions as a result of the war in Ukraine or supporting the war or any activity of the Russian and Belarusian regimes that violates international law.
More broadly, the granting of golden visas should be suspended for all Russian and Belarusian citizens.
“Now, more than ever, in the face of war, we must do everything to ensure that Russians and Belarusians under sanctions and those supporting Putin’s war of aggression cannot buy their way into the EU”, said the Commissioner for Home Affairs, Ylva Johansson.
Finally, the Commission asks Member States to report on the implementation of this recommendation by the end of May.
See the recommendation: https://aeur.eu/f/10e (Original version in French by Léa Marchal)