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Member States urged to act on ‘golden passports’ and ‘golden residence permits’

Apr 4, 2022 | News

(04 April 2022) – The Commission is urging 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.

© European Commission

The Commission has frequently and consistently raised its serious concerns about investor citizenship and residence schemes and the inherent risks they pose. The current context of the Russian aggression against Ukraine is once again highlighting these risks.

Some Russian or Belarusian nationals who are subject to sanctions or are significantly supporting the war in Ukraine might have acquired EU citizenship or privileged access to the EU, including to travel freely in the Schengen area, under these schemes.

Residence permits granted under an investor residence scheme to Russian or Belarusian nationals subject to sanctions should be immediately withdrawn, following an individual assessment and in accordance with the principle of proportionality, fundamental rights and Member States’ national law.

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