|Author (Corporate)||European Commission|
|Series Details||C (2022) 2028|
|Content Type||News, Policy-making|
Recommendation adopted by the European Commission on 28 March 2022, addressing the existing golden passports and golden residence permits schemes across the European Union (EU), in the framework of Russia's invasion of Ukraine.
Investor citizenship schemes allow a person to obtain nationality based on a significant payment or investment. Investor residence schemes allow non-EU nationals to obtain a residence permit to live in an EU country in exchange for a payment or an investment. In 2019, the European Commission issued a report on investor citizenship and residence schemes operated by a number of EU Member States, which mapped the existing practices and identified certain risks such schemes imply for the EU, in particular, as regards security, money laundering, tax evasion and corruption.
This Recommendation urges Member States to immediately repeal any existing investor citizenship schemes and to ensure strong checks are in place to address the risks posed by investor residence schemes. It forms part of the Commission's broader policy to take action on these schemes, whose risks were highlighted by the Russian aggression against Ukraine. The Commission also recommends that Member States assess whether citizenship granted under a golden passport scheme to Russian or Belarusian nationals on an EU sanctions list in connection to the war in Ukraine should be withdrawn.
|Subject Categories||Justice and Home Affairs|
|Subject Tags||Corruption | Fraud | Mismanagement, Foreign Policy Instruments, Wars | Conflicts|
|Keywords||EU Citizenship, Sanctions | Restrictive Measures, War in Ukraine (2022)
|Countries / Regions||Belarus, Russia, Ukraine|
|International Organisations||European Union [EU]|