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The EU began to regulate the CBI and RBI schemes


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EU starts regulation CBI and RBI schemes

More than 130,000 people became participants in CBI/RBI migration programs in 2011-2019 by obtaining citizenship or residence of EU countries. The total income received by EU countries from investors during this period amounted to more than 21,800,000,000 EUR, as confirmed by statistics from EAVA. The market of migration services related to CBI/RBI schemes has expanded noticeably in recent years - they are now used in 60 countries worldwide.

Changes in the legislation

EAVA has put forward legal grounds for EU action and evaluated several new policy concepts. It is intended to adjust the EU legal framework regarding the key areas regulating CBI and RBI schemes in the allied countries.

Tax optimization

The latest changes in legislation indicate the gradual abandonment of CBI and RBI schemes in all Eurozone countries. The implementation of this initiative will be gradual, which will minimize the possible negative consequences for the economies of European countries, which use such schemes.

There is also a proposal to split the tax on foreign incomes, received by the CBI and RBI participants, among the EU member states. Two strategies are possible here. In the first case, it is proposed to introduce a tax to offset the costs of member states using the CBI and RBI schemes, and in the second - to abandon investment immigration through a 100% taxation of applicants for residence permit and citizenship.

Principles of the new migration strategy

The main principles of the new investor immigration policy include:

  • new standards of conduct for all participants in immigration programs;
  • measures to combat the legalization of illegal funds;
  • timely notification to EU member states of any changes to their programs;
  • enhanced due diligence;
  • conditions for revocation of citizenship;
  • EU-level audits;
  • setting a limit on the number of applications approved.

It is also planned to set minimum requirements for the actual presence in EU countries of investors, who use the RBI program. It is expected that after the accession of Turkey, Montenegro and Northern Macedonia to the EU, the migration legislation will change for citizens of these states.

Source: citizenship by investment

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