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European Commission To Finalize And Launch Tuesday Infringement Procedures Against Cyprus And Malta Over Passport Scheme

European Commission To Finalize And Launch Tuesday Infringement Procedures Against Cyprus And Malta Over Passport Scheme

The European Commission will finalize and launch on Tuesday infringement procedures against Cyprus and Malta in relation to their “golden passport” schemes, used to grant investors EU citizenship, Vice President Maros Sefcovic told the Press this evening in Brussels.

More specifically, during a scheduled College readout, VP Sefcovic briefed the Press that the College held a specific discussion in view of procedures to be announced tomorrow.

Called to provide further details, VP Sefcovic stated that "we will finalise the launching of the procedure on the investor schemes tomorrow morning. So that would be the place to provide you with greater details. Today we discussed it and in particular the compliance of such schemes with EU law, in view of possible infringement proceedings. It is important to underline that the Commission has frequently raised serious concerns about schemes." "Latest developments reaffirm those concerns", Sefcovic noted.

He also stated that the European Commission will stay in close contact with both Cyprus and Malta on the issue.
 

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