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EU calls to stop golden passport program

The EU urges members to stop the citizenship program for foreign investors, and seeks to strip the golden passports of sanctioned Russians and Belarusians.

“European value is not for sale. We consider it illegal to sell citizenship through a golden passport under European Union (EU) law,” Justice Commissioner Didier Reynders said today as announced the European Commission (EC), the EU’s executive body, called on member governments to immediately end the golden passport programme.

This program is likened to selling citizenship because it empowers foreigners based on the amount of money they invest. For example, foreigners can reside in Bulgaria when they invest a minimum of 500,000 euros ($570,000). They will be granted citizenship if they invest one million euros.





European Commission President Ursula von der Leyen speaks during a press conference on the second day of the European Union summit in Brussels, Belgium, March 25.  Photo: AFP

The President of the European Commission speaks during a press conference in Brussels, Belgium, March 25. Photo: AFP.

The move comes after a new effort by the European Parliament to shrink and regulate the multi-billion-dollar citizenship-visa industry, long seen by the EU as potentially dangerous.

“Some Russian or Belarusian nationals who are the subject of Russian sanctions or support for hostilities in Ukraine may already possess EU citizenship or EU access rights, including the right of free movement within the Schengen area, under these programmes,” the EC statement read.

We want EU governments to “determine whether it is possible to revoke citizenship granted to sanctioned Russians and Belarusians,” said EC spokesman Christian Wigand.

Since Russia launched its military campaign in Ukraine on February 24, the EU has blacklisted nearly 700 politicians, businessmen and military personnel accused of supporting the Kremlin.

Countries with golden passport programs including Malta, Cyprus and Bulgaria have all pledged to end it. Malta last month announced it would stop issuing golden passports to Russians and Belarusians.

Hong Hanh (According to Reuters)

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