A news release from the EU on 20 October advised that the European Commission is launching infringement procedures against Cyprus and Malta by issuing letters of formal notice regarding their investor citizenship schemes also referred to as “golden passport” schemes. The Cypriot and Maltese governments have 2 months to reply to the letters of formal notice. The Commission is also writing again to Bulgaria to highlight its concerns regarding an investor citizenship scheme and requesting further details. The Bulgarian government has 1 month to reply to the letter requesting further information, following which the Commission will decide on the next steps.
https://ec.europa.eu/commission/presscorner/detail/en/ip_20_1925
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