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

Some of Our Books

The Latchkey Murders

The Latchkey Murders

Senior Lieutenant Pavel Matyushkin is back on the case in this prequel to the popular mystery Murder at the Dacha, in which a serial killer is on the loose in Khrushchev’s Moscow...
The Pet Hawk of the House of Abbas

The Pet Hawk of the House of Abbas

This exciting new trilogy by a Russian author – who has been compared to Orhan Pamuk and Umberto Eco – vividly recreates a lost world, yet its passions and characters are entirely relevant to the present day. Full of mystery, memorable characters, and non-stop adventure, The Pet Hawk of the House of Abbas is a must read for lovers of historical fiction and international thrillers.  
Murder at the Dacha

Murder at the Dacha

Senior Lieutenant Pavel Matyushkin has a problem. Several, actually. Not the least of them is the fact that a powerful Soviet boss has been murdered, and Matyushkin's surly commander has given him an unreasonably short time frame to close the case.
The Little Humpbacked Horse (bilingual)

The Little Humpbacked Horse (bilingual)

A beloved Russian classic about a resourceful Russian peasant, Vanya, and his miracle-working horse, who together undergo various trials, exploits and adventures at the whim of a laughable tsar, told in rich, narrative poetry.
Fish: A History of One Migration

Fish: A History of One Migration

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.
Stargorod: A Novel in Many Voices

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.
Davai! The Russians and Their Vodka

Davai! The Russians and Their Vodka

In this comprehensive, quixotic and addictive book, Edwin Trommelen explores all facets of the Russian obsession with vodka. Peering chiefly through the lenses of history and literature, Trommelen offers up an appropriately complex, rich and bittersweet portrait, based on great respect for Russian culture.
93 Untranslatable Russian Words

93 Untranslatable Russian Words

Every language has concepts, ideas, words and idioms that are nearly impossible to translate into another language. This book looks at nearly 100 such Russian words and offers paths to their understanding and translation by way of examples from literature and everyday life. Difficult to translate words and concepts are introduced with dictionary definitions, then elucidated with citations from literature, speech and prose, helping the student of Russian comprehend the word/concept in context.
Murder and the Muse

Murder and the Muse

KGB Chief Andropov has tapped Matyushkin to solve a brazen jewel heist from Picasso’s wife at the posh Metropole Hotel. But when the case bleeds over into murder, machinations, and international intrigue, not everyone is eager to see where the clues might lead.
Faith & Humor: Notes from Muscovy

Faith & Humor: Notes from Muscovy

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.

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