Agnes Szucs
28 March 2022•Update: 29 March 2022
BRUSSELS
The European Commission on Monday asked EU member states to immediately stop the so-called “golden passport” and “golden residence permit” programs and to assess if citizenship granted to Russian or Belarusian nationals under such schemes could be withdrawn.
The European Commission adopted a recommendation, urging member states to immediately repeal any existing golden passport and golden residence permit schemes, the EU executive body announced in a statement.
The golden passports and golden residence permits allow non-EU nationals to get the citizenship or residence of an EU country that allows free travel within the Schengen area if they invest a certain amount of money in the given state.
The European Commission also asked EU countries to examine if the EU citizenship granted by these investor schemes to those Russian or Belarusian nationals who are under sanctions for supporting Russia's war on Ukraine can be withdrawn.
“European values are not for sale. We consider that the sale of citizenship through golden passports is illegal under EU law and poses serious risks to our security,” EU Commissioner for Justice Didier Reynders commented on the decision.
He also noted that such investor schemes open the “door to corruption, money laundering, and tax avoidance.”
Bulgaria, Malta, and the Greek Cypriot administration offer golden passport schemes, while 12 other EU countries have golden visa schemes that grant EU residence.
Between 2011 and 2019, at least 130,000 golden passports and visas have been issued in the EU, bringing over €21.8 billion (around $24 billion) revenue for the countries.
The Russia-Ukraine war, which started on Feb. 24, has met international outrage with the EU, US, and UK, among others, implementing tough financial sanctions on Moscow.
At least 1,119 civilians have been killed in Ukraine and 1,790 injured, according to UN estimates, with the true figure feared to be far higher.
More than 3.8 million Ukrainians have also fled to neighboring countries, with millions more displaced inside the country, according to the UN refugee agency.
