The European Council has taken first steps implementing a draft law to suspend visa free regime of third countries operating investor citizenship schemes “without” genuine link. The Council to enter into negotiations with the European Parliament, after that final text will be agreed and voted by member states over text two months.
The new grounds of visa suspension now includes the operation of an investor citizenship scheme, whereby citizenship is granted without any genuine link to the third country concerned, in exchange for pre-determined payments or investments.
“This new law, when adopted, will boost the EU’s toolbox to counter situations when visa-free travel is being abused or works against the interests of the EU, “according to the official press release.”, said the Council.
While the Union respects the right of sovereign countries to decide on their own naturalisation procedures, visa-free third countries should be deterred from using visa-free access to the Union as a tool for leveraging individual investment in return for their citizenship.
– European Council
The EU currently has a visa-free regime in place with 61 third countries. Nationals from these countries can enter the Schengen area for short stays of up to 90 days in any 180-day period without a visa.
Under the updated rules, duration of temporary suspension of the visa exemption has been increased from 9 to 12 months and can be extended by another 24 months (instead of 18 months under the current system). During this suspension phase, the European Commission will engage in a dialogue with the third country in order to take steps to remedy the circumstances that led to the suspension. If no solution is found to remedy the situation, the EU can decide to permanently revoke the visa-free travel regime.
The draft law also proposes to include a a significant risk or imminent threat to the public policy or internal security of Member States related to a third country listed in Annex II, in particular deriving from any of the following:
(i) a substantial increase in serious criminal offences, linked to the nationals of that third country, substantiated by objective, concrete and relevant information and data provided by the competent authorities;
(ii) hybrid threats;
(iii) deficiencies in document security legislation or procedures;
