‘No’ to the ‘golden passports’ from the European Parliament

The European Parliament called for a ban on “golden passports” and stricter controls on “golden visas” in a resolution adopted by a large majority on Wednesday.

These are two different processes by which wealthy foreigners, mainly from Russia and China, can settle on European soil. With the “golden passport” they acquire the so-called “citizenship through investment” (citizenship by investment). With the “golden visa” they simply acquire “residence by investment”. Only Cyprus, Bulgaria and Malta currently have “golden passports” in the EU. “Golden visas” are still issued by twelve European countries, including Greece. Prices range from 250,000 euros in Greece to 10 million euros in Austria.

The “golden passports” in particular infuriate the MEPs, but also the Commission. “When a member state sells its citizenship, it also sells European citizenship, that is, it sells something that does not belong to it,” said Justice Commissioner Vera Jurova in 2019. Al Jazeera’s former documentary on the granting of golden passports to Cyprus caused a “political earthquake” and the resignation of the Speaker of Parliament, while the law firm “Nikos Anastasiadis and Associates” founded by the President of the Republic of Cyprus was involved in the case, but he claims that he “no longer controls” the office. The issue had returned to the European Parliament in 2014, but also in 2017, after the murder of Maltese journalist Daphne Garouana Galicia, who was investigating the activities of illegal circuits for the issuance of “golden passports”.

Malta remains a “black sheep”

The pressures have borne fruit. In the autumn of 2020, the Cypriot government decided to end the “golden passports” program, but clarified that the examination of applications submitted until then would continue. In December 2021, the new pro-Western government of Bulgaria also announced that the issuance of passports to “investors” would end soon. This was preceded by new revelations on the website Bird.bg about Russian bankers, who acquired Bulgarian citizenship through summary procedures, without fulfilling the necessary conditions. Today only Malta continues to issue “golden passports”.

A resolution adopted by the European Parliament in Strasbourg on Wednesday called on the Commission to launch a legislative process to completely ban “golden passports” in the EU by 2025. But the European Parliament’s rapporteur on the issue, Dutch Intfeld says she is “disappointed” by the Commission’s reaction. Speaking to reporters in Strasbourg before the vote, he explained: “We were more or less told that the problem would be solved on its own at some point, as two of the three countries issuing gold passports are terminating the programs, and we hope that at some point it will follow. their example and Malta “.

In recent months, warns Sophia Idfeld, some experts have discovered another “trick” to move around the EU undisturbed: They apply for passports from exotic Pacific countries, such as the island of Vanuatu, which guarantee free access to their holder. This new “window” obviously makes the need for legislation even more urgent. In addition, MEPs are calling for stricter controls on the “investor” cravings for “golden visas” that are still being issued in many EU member states.

Alarm due to Russia

The issue becomes particularly topical due to developments in Ukraine and the suspicion that Russian oligarchs may seek refuge in Europe. It is indicative that even Malta announced last week the suspension of the issuance of “golden passports” to Russians. “When a Russian oligarch applies for a European passport, in theory the Russian authorities will tell us who he is,” said Sofia Anfeld. “But how credible does this method seem to you? It is no coincidence that in Malta, but also in Cyprus, there have been cases where the authorities revoked citizenship, after a thorough check.”

Giannis Papadimitriou, Strasbourg

Source: Deutsche Welle