The European Union and the 'golden passport' and visa schemes in Cyprus, Italy and Malta

Abstract

The objective of this dissertation is to compare the economic benefits and security risks associated with Citizenship-by-Investment (CBI) and Residence-by-Investment (RBI) programmes, also known as Golden Passport and Golden Visa Schemes, as well as to identify any links between the programme structures and their eventual benefits and risks in the European Union. Citizenship is not an EU competence, and therefore it is the sole competence of Member States to determine who becomes a citizen of the state, and therefore the EU. Since their inception within EU Member States, CBI and RBI programmes have been the subject of growing controversy and discussion, despite the fact that each programme varies from one state to another. This research has identified a link between the benefits offered by such programmes and interest in applicants. The essence of these findings lies in the fact that applicants of such programmes are more willing to apply for such programmes if they are granted greater rights. This dissertation will give an extensive analysis of the CBI and RBI programmes operated by Cyprus, Malta and Italy, where a comparison between the characteristics of the programmes will be compared along with their economic benefits and security risks.