Albania’s Prime Minister, Edi Rama, has announced that the country’s planned Citizenship by Investment Program (CIP), also known as the “golden passport” scheme, will be temporarily suspended. This comes after pressure from the European Union (EU) to terminate such programs in all EU countries, claiming they go against EU laws and can allegedly benefit persons involved in illicit activities.
The decision to suspend the CIP program was made until the position of such schemes is clarified at the European level. Mr. Rama stated that the outcome of the European Court’s case challenging Malta’s Golden Passport scheme will determine whether Albania introduces the program or not. However, the EU has called on all European countries to terminate their golden passport schemes as soon as possible.
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