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EU Takes Legal Action Against 'golden Passport' Schemes In Cyprus,...

MarshallBroger2032025.03.22 03:01조회 수 0댓글 0

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wild_grass_in_the_sun_on_a_winter_afternLISBON, Sept 26 (Reuters) - Chinese are leading the way among non-European new residents in Portugal, whose investments have helped fuel a property boom under an advantageous "golden visa" scheme that is also creating political tension at home.

BRUSSELS, Oct 20 (Reuters) - The European Union's executive said on Tuesday it was launching legal action against Cyprus and Malta over their investor citizenship programmes, also known as "golden passport" schemes.

No. Visas are not required by U.S. citizens for stays of up to 90 days.

Interior ministry figures issued on Wednesday showed that the 6,498 non-Europeans granted residency since Portugal launched the scheme in 2012 had generated 3.97 billion euros ($4.7 billion) in investments, mainly in property.

The commission has refrained from launching legal actions against EU states that sell residence permits, also known as "golden visa schemes", without requiring investors to stay in the country for a meaningful period, despite a European Parliament resolution urging such a move.

The European Commission said the decision was taken because the two member states granted nationality - and thereby EU citizenship - without requiring "a genuine link with the country", as passport holders were not obliged to reside there.

The Cypriot and Maltese governments have two months to take action. Without meaningful changes, the commission could refer them to the bloc's Court of Justice and ultimately it can ask the court to impose penalties. ($1 = 0.8467 euros) (Reporting by John Chalmers and Francesco Guarascio; additional reporting by Chris Scicluna in Valletta; Editing by Alex Richardson)

Cyprus said last week it was suspending its citizenship-for- investment programme, ditching a scheme the government had acknowledged was open to abuse after an investigation by Al Jazeera, a media outlet.

Malta's Finance Minister Edward Scicluna said on Tuesday the country was replacing its current scheme with a new programme that would introduce tighter vetting of applicants, who will have to be residents of the islands for a year before their applications can be considered In case you have virtually any concerns with regards to where along with the way to employ portugal golden visa, it is possible to email us in our web-site. .
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