Tag: Golden Passport

Thank you! EU Parliament demands a ban on Golden Passport schemes!

Corruption Ben - March 10, 2022

On 9 March 2022, the EU Parliament has voted overwhelmingly to end the practice of EU countries selling "citizenship by investment" (CBI). It comes in the wake of Russia's invasion of Ukraine with many wealthy Russians having received EU passports in exchange for significant investments (and payments to local officials and politicians). Members of the European Parliament in Strasbourg on Wednesday voted 595 for, 12 against and with 74 abstentions to end the so-called ‘golden passport'

EU Commission takes action against Cyprus and Malta’s Golden Passports Schemes

Compliance Charlene Lensburg - October 21, 2020

EU passports are highly prized as they give their owners the right to travel, live, and work freely in all 27 members of the union. Unfortunately, some countries such as Cyprus and Malta sell citizenships and thus EU passports as part of investment programs for the sole benefit of these countries. Most recently, Al Jazeera has revealed that Cyprus is also offering its "Golden Passport" scheme to convicted criminals and money launderers. Now the EU is finally intervening.

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