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EU Commission Presents Report on Investor Citizenship and Residence Schemes

In its 23 January weekly college meeting, the European Commission has presented a comprehensive report on investor citizenship and residence schemes operated by a number of EU Member States.

The report identifies certain risks such schemes imply for the EU, in particular, as regards security, money laundering, tax evasion and corruption.

The Commission has decided to better monitor steps taken by Member States to address issues of transparency and governance in managing the schemes, and will also set up an expert group of member state civil servants to improve the existing situation. This group will have the task of

  • Setting up a system of exchange of information and consultation on the numbers of applications received, countries of origin and on the number of citizenships and residence permits granted/rejected by Member States to individuals based on investments; and

  • Developing a common set of security checks for investor citizenship schemes, including specific risk management processes, by the end of 2019. 

Investors, VC-fund owners will need to be better prepared when they decide where to move in with their capital. Some rules are likely to change for the worse.



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