European Commission calls on Albania not to introduce golden passport scheme

schedule11:00 - 9 Dhjetor, 2022

schedule 11:00 - 9 Dhjetor, 2022

“Albania should abandon the scheme of golden passports for investors, as such a thing would present risks, as it relates to security, money laundering, tax evasion, financing of terrorism, corruption and infiltration of organized crime . It would be incompatible with EU norms”, says the draft report of the European Commission.

This is not the first time that the European Commission calls on Albania not to take such a step. In August, the Commission asked Albania to abandon the idea of ​​introducing the Golden Passport scheme as, according to the Commission, it conflicts with European Union legislation and also poses a significant risk to Albania’s membership of the bloc.

Albania’s progress report last year also emphasized the fact that the creation of such a program poses a risk to the country’s security, among other things.

The Commission highlighted the fact that Albania has followed most of the recommendations made by the Commission previously, however, the report highlighted that Albania has also presented measures that contradict the Commission’s recommendations regarding the approximation as well as the citizenship program, thus highlighting further progress which is necessary for specific issues, including the withdrawal of the plan to introduce the Golden Passport scheme.

The Golden Passport scheme allows wealthy foreigners who contribute financially to Albania and meet specific requirements to obtain citizenship in this country. However, there has often been criticism that this scheme is an open door to many illicit affairs.

Despite the recommendations of the European Commission, the authorities in Albania have previously emphasized that there is nothing to worry about the implementation of this scheme.