Europe ends the “golden passport” program

Currently, there are three countries applying this program: Malta, Cyprus and Bulgaria. However, all three countries have pledged to end the program.

According to the European Parliament, ending the golden passport program could have a significant economic impact on some countries.

From 2011-2019, this program brought a total of more than 21 billion USD in investments to EU member states. However, the program is largely unchecked within the block, leading to security implications.

Along with the above program, the European Commission also called on countries to stop issuing visas to citizens of Russia and Belarus.

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