May 19, 2023

No More Golden Passports?


No More Golden Passports?
Annulled Maltese passports. Dans, Wikimedia Commons.

Wealthy Russians have historically taken advantage of citizenship-for-investment policies. However, Malta and Cyprus have recently annulled dozens of "golden passports" of EU-sanctioned Russian nationals and their families. Options for EU citizenship for Russians are disappearing.

Malta and Cyprus' “golden passports” have long been controversial. After the invasion of Ukraine, the EU asked both countries to deny Russians and Belorussians a path to naturalization via investments and to revoke passports given to investors from these countries. Der Spiegel reported that European Parliament member Moritz Körner solicited Malta to revoke the citizenships of two sanctioned Russians. The deputy also asked Cyprus to annul nine Kremlin-allies' passports and 34 people associated with them. Körner said that these passport holders should “feel the consequences” for enriching themselves off the Kremlin.

Russians have how turned to Vanuatu, whose visa is waived for the Schengen area, for alternative citizenship via investment. Yet Vanuatu is now at risk of losing its visa-free status for its "golden passports" policy.

Malta and Cyrpus have benefited from their passport policies, with Cyprus reporting that between 2007-2020 their citizenship-for-investment made gains of 9.7 billion euros. However, not all hope is lost, since a record number of Americans have begun to apply for such citizenship.

 

You Might Also Like

Financial Paradise Lost?
  • April 16, 2023

Financial Paradise Lost?

The second-largest bank in the UAE will block investment accounts from Russians, citing pressure from EU depositories.
No Money, Only War
  • March 29, 2023

No Money, Only War

Russian authorities blame the "special military operation" for the disruption of infrastructural and social projects.
Cry for Me, Argentina
  • February 19, 2023

Cry for Me, Argentina

Six pregnant Russians were detained while entering Argentina, prompting a criminal investigation into birth tourism agencies.
Screws are Tightening
  • April 12, 2023

Screws are Tightening

March has seen a serious tightening of the screws of repression by the Russian regime.
Like this post? Get a weekly email digest + member-only deals
[INVALID]
[INVALID]
[INVALID]

Some of our Books

Faith & Humor
December 01, 2011

Faith & Humor

A book that dares to explore the humanity of priests and pilgrims, saints and sinners, Faith & Humor has been both a runaway bestseller in Russia and the focus of heated controversy – as often happens when a thoughtful writer takes on sacred cows. The stories, aphorisms, anecdotes, dialogues and adventures in this volume comprise an encyclopedia of modern Russian Orthodoxy, and thereby of Russian life.

At the Circus
January 01, 2013

At the Circus

This wonderful novella by Alexander Kuprin tells the story of the wrestler Arbuzov and his battle against a renowned American wrestler. Rich in detail and characterization, At the Circus brims with excitement and life. You can smell the sawdust in the big top, see the vivid and colorful characters, sense the tension build as Arbuzov readies to face off against the American.

Fish
February 01, 2010

Fish

This mesmerizing novel from one of Russia’s most important modern authors traces the life journey of a selfless Russian everywoman. In the wake of the Soviet breakup, inexorable forces drag Vera across the breadth of the Russian empire. Facing a relentless onslaught of human and social trials, she swims against the current of life, countering adversity and pain with compassion and hope, in many ways personifying Mother Russia’s torment and resilience amid the Soviet disintegration.

Survival Russian
February 01, 2009

Survival Russian

Survival Russian is an intensely practical guide to conversational, colloquial and culture-rich Russian. It uses humor, current events and thematically-driven essays to deepen readers’ understanding of Russian language and culture. This enlarged Second Edition of Survival Russian includes over 90 essays and illuminates over 2000 invaluable Russian phrases and words.

Steppe
July 15, 2022

Steppe

This is the work that made Chekhov, launching his career as a writer and playwright of national and international renown. Retranslated and updated, this new bilingual edition is a super way to improve your Russian.

Stargorod: A Novel in Many Voices
May 01, 2013

Stargorod: A Novel in Many Voices

Stargorod is a mid-sized provincial city that exists only in Russian metaphorical space. It has its roots in Gogol, and Ilf and Petrov, and is a place far from Moscow, but close to Russian hearts. It is a place of mystery and normality, of provincial innocence and Black Earth wisdom. Strange, inexplicable things happen in Stargorod. So do good things. And bad things. A lot like life everywhere, one might say. Only with a heavy dose of vodka, longing and mystery.

About Us

Russian Life is a publication of a 30-year-young, award-winning publishing house that creates a bimonthly magazine, books, maps, and other products for Russophiles the world over.

Latest Posts

Our Contacts

Russian Life
73 Main Street, Suite 402
Montpelier VT 05602

802-223-4955