EC Sent Letter to Bulgaria About the Citizenship by Investment Scheme

The European Commission has sent a letter to Bulgaria expressing its concerns about the acquiring of citizenship by investment regime.

Brussels wants further details from Sofia. The Bulgarian government has one month to respond to the letter requesting additional information, after which the Commission will decide on the next steps.

On October 20, the European Commission took legal actions against Cyprus and Malta in connection with their investor citizenship schemes, also known as "golden passport" schemes.

The Commission considers that the granting of the citizenship of those Member States, and hence of the citizenship of the Union, in return for a predetermined payment or investment and without a real connection with the countries concerned, is incompatible with the principle of loyal cooperation enshrined in Article 4, paragraph 3 of the Treaty on European Union. This also undermines the integrity of the citizenship status of the Union provided for in Article 20 of the Treaty on the Functioning of the European Union

Due to the nature of this citizenship, such schemes have implications for the Union as a whole. When a Member State grants citizenship, the person concerned automatically becomes an EU citizen and enjoys all rights related to that status, such as the right to free movement, reside and work within the EU or to vote in municipal elections, and in elections to the European Parliament.

As a result, the effects of acquiring citizenship by investment schemes are neither limited to the Member States that apply them nor neutral to other Member States and the EU as a whole.

The Commission considers that the granting of Union citizenship for predetermined payments or investments without a real link with the Member...