Proposal to End Golden Passports and Regulate Golden Visas

by name voted on 09.03.2022

Summary

The European Parliament proposes banning 'golden passport' schemes by 2025 and strictly regulating 'golden visa' programs to prevent money laundering and protect EU security.

9 09.03.2022

Other

economy

justice

civil law

criminal law

human rights

social policy

european union

administrative law

public administration

information technology and data processing

Key points

The European Parliament calls for the complete phase-out of all citizenship by investment schemes across the EU by 2025.
A new regulation is proposed to harmonize residency by investment schemes, focusing on stricter background checks and vetting of applicants' wealth.
The proposal seeks to strictly regulate or license commercial intermediaries to prevent conflicts of interest and corruption.
A 'CBI and RBI Adjustment Mechanism' is suggested, which would levy a percentage of these investments as a new source of revenue for the EU budget to offset negative externalities.

Vote

PPE

S&D

Renew

Verts/ALE

ID

ECR

NI

The Left

Total

Speeches

29 Speeches in total

Pro

Contra

Othmar KARAS

PPE

4:19 min

11. Announcement of voting results

Roberta METSOLA

Roberta METSOLA

PPE

0:25 min

6. Voting session

Documents (PDFs)

REPORT with proposals to the Commission on citizenship and residence by investment schemes Citizenship and residence by investment schemes

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