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European Commission demands to reduce issuance of "gold passports" for CIS citizens

European Commission demands to reduce issuance of "gold passports" for CIS citizens 2003
© Schengen VISA

Baku. 7 August. REPORT.AZ / European Commission intends to reduce the number of passports and residence permits issued in exchange for the purchase of real estate or investment to citizens of third countries, in particular, Russia and the former Soviet republics.

Report informs citing the TASS, Der Spiegel publication reported.

This decision is due to the threat of using "gold" documents for money laundering and undermining the security of the EU, officials say.

According to EU Justice Commissioner Vera Yurova, new directives will be developed and published in the autumn.

"The European Commission is very concerned about the increase in the number of issued "Golden passports", - she said.

In some EU countries, there is a rule of "Golden" visas and passports: a residence permit or citizenship can be obtained in exchange for the purchase of real estate or significant investment in the economy of the state.

Commissioners highlighted Cyprus, Greece and Malta among the European countries, and citizens of Russia, CIS countries and China among the owners of the "Golden documents". 

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