No more golden passports for Russian oligarchs

“We must ban the sale of EU passports and stop the flow of Russia’s dirty money into the EU. As we are facing Putin’s aggression, we must take decisive EU action”, said Vladimir Bilčík, the EPP Group MEP responsible for the Report on citizenship and residency of investment schemes, which will be voted on during this week's Plenary session of the European Parliament.

The EPP Group calls for an end to all so-called golden passport and golden visa schemes which exist in different formats in many EU Member States.

In recent years, we have seen a growing trend in the EU in such schemes which have raised concerns about risks, in particular regarding security, money laundering and tax evasion. Furthermore, these schemes have been linked to corruption and crime and can serve as a backdoor into the Union for dirty money and dodgy business. These schemes offered in some countries pose a threat to security in Europe and a threat to our democracy. “This Report is the best long-term opportunity for eradicating golden passports and ensuring that any residency for money in the EU goes hand-in-hand with watertight security checks and thorough vetting of high-risk individuals”, continued Bilčík.

In reaction to the Russian aggression against Ukraine, the EPP Group tabled an amendment calling on all relevant Member States to stop operating citizenship and residency investment schemes for all Russian applicants with immediate effect, and to re-assess already granted applications of people with a link to the Putin regime. It is unacceptable that wealthy Russians can purchase EU citizenship and benefit from our values while their government is leading a war in Europe. “Let us be absolutely clear: the so-called Russian elite with links to the Kremlin and dubious self-serving investments cannot be welcome in Europe”, concluded Bilčík.