1. Europe urges 8 countries to phase out CBI citizenship by investment programs

The European Commission has recommended that eight countries in the Western Balkans and Eastern Europe that have visa-free regimes  phase out their planned CBI  schemes if they remain eligible for EU membership.

The recommendations are made in the Commission's fourth monitoring report on the EU visa-free regime for Albania, Montenegro, Bosnia and Herzegovina, North Macedonia, Serbia, Georgia, Moldova and Ukraine. The report concluded that eight countries met the EU's conditions for visa liberalization. However, it suggested that these countries should gradually phase out the policy of granting citizenship in exchange for foreign investment money to avoid affecting the visa processing situation of other countries in the EU, as well as ensure the regional immigration security situation.

2. Interior Ministry Ylva Johansson suggests that the main reason for the recommendation stems from security concerns

"While restrictions related to the COVID-19 pandemic have had a major impact on mobility, the visa-free countries of the Western Balkans and the Eastern Partnership must continue and step up their efforts in manage migration and asylum as well as combat corruption and organized crime."

The visa-free regime allows non-EU nationals to visit and stay in the Schengen area for up to 90 days without applying for a visa for each EU country they visit. Montenegro, Serbia and North Macedonia have visa-free agreements with the EU since 2009; Albania and Bosnia and Herzegovina since 2010; Moldova (2014), Georgia (2017) and Ukraine (2017).

Since the eight Western Balkan countries and the Eastern European countries have made progress in joining the EU, investors will now be able to get more EU immigration opportunities, especially since Other European countries such as Greece and Portugal have offered RCBI programs quite successfully.

Although it has not been officially announced, countries like North Macedonia are said to be getting ready to make significant announcements about their own CBI program, which is expected to have an investment of around 200,000 euros in funds. approved by the government.

However, the European Commission's latest report offers a warning to all such programmes. And we will have to wait and see what the future holds for the immigration situation of these eight countries.

Please contact iCanfield for more advice on investment programs for European citizenship.

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