By attacking CIPs in small, defenseless countries with no allies, EU politicians rack up PR points at zero cost, writes Martin St-Hilaire.
“I do not see any way to please the EU other than stopping the whole program,” says St-Hilaire, while Harris thinks it’s not over yet.
Stephane Tajick believes it’s time we start thinking about how to adapt to a world without citizenship by investment.
As Parliament votes overwhelmingly in support of ending CBI and regulating RBI in Europe, Kochenov expects the Commission not to legislate.
The Commission agrees with the Parliament that citizenship by investment in the EU should end. What they don’t agree in is how to end it.
Vanuatu’s worst-case scenario becomes a reality as the European Council decides to revoke visa-free travel to the EU.
The group said it would “limit the sale of citizenship”. Whether it means to restrict just Russians or CBI programs altogether is not clear.
The LIBE Committee today approved MEP Sophie in ‘t Veld’s radical anti-RCBI report. The European Parliament will vote on the bans next month.
Philippe May and Martin St-Hilaire ask: Would it be the end of CBI in Vanuatu? Would a price cut be in order? Where would demand come from?
Nuri Katz calls CBI vetting “the best due diligence known to man.” He also takes part of the blame for the industry’s failure to effectively lobby Brussels.
Martin St-Hilaire points to red herrings, straw man arguments, and other deliberate fallacies the European Commission uses against Vanuatu.
Limited economic benefit combined with EU antipathy to CBI leads the Bulgarian government to conclude the program isn’t worth the trouble.
The European Commission has formally proposed that the Council partially suspend visa-free Schengen access for Vanuatu passport holders.
Despite the Commission’s protestations, Cyprus kept processing applications pending since the CIP’s termination – but rejected most of them.
If appeasing the EU was Malta’s goal, says Philippe May, it was unsuccessful. “These people are driven by ideology. They will never give up.”
Malta’s Citizenship “Czar”, Alex Muscat, promised to oppose efforts to tax or stop CBI programs but expressed support for tighter regulation.
Parliamentary Secretary Muscat once again reminds Ursula von der Leyen that deciding whom to naturalize is Malta’s sovereign prerogative.
The European Commission aims to make IM providers “Obliged Entities”. David Lesperance asks: Can the EC do that? And would it be a problem?
“It is disappointing, however, that the European Commission decided not to propose regulation of citizenship by investment,” said the IMC.
The European Commission has sent a “Reasoned Opinion” to Cyprus and an “additional letter of formal notice” to Malta.
