Albania Citizenship by Investment Program and the obstacles from Europe

Published at: 02/03/2020 11:10 am

Albania Citizenship by Investment Program and the obstacles from Europe

Albania's plan to launch the newest citizenship by investment program faced immediately fierce resistance from some EU Member States. Can Albania lose the chance to join the EU and even the Schengen access by introducing a passport scheme for investors?

Representatives of the European political bodies always share harsh critics on the European residency and citizenship programmes. However, more than 20 EU Member States introduced such passport or residence permit schemes. Among the not EU countries perhaps Montenegro owns the single solution accepted by the broader European community and this is the answer to the question: "Why did it take so long to start the Montenegrin program?" Because it had to satisfy all requests of the EU to be able to launch the program and still join the European Union. (Discus Holdings is an official agent of the Montenegro Citizenship by Investment Program, read all the detailed information here!

What happened with the Albania Citizenship by Investment Program?

Prime Minister Edi Rama announced the plan of a passport scheme for High Net Worth Individual applicants in London in October. He said, "I know that when I get back home, I will receive an alert from the European Union about this, but I strongly believe this is what we have to do." He also offered a "tax holiday for ten years and six per cent VAT rate" for the investor citizens. 

However the announcement did not meet a warmly welcome from MPs and MEPs in the Union. First of all, the Dutch Parliament tabled questions about the Albanian CIP. "One of the ten questions asks whether the Prime Minister of the Netherlands will consider using the "emergency braking procedure" to suspend visa-free travel for Albanians in the EU", according to the Exit News portal

Moreover, EU Justice Commissioner Vera Jourova and the EU Delegation in Tirana told that they don't advise Prime Minister Rama to implement the scheme as it could impact Albania's accession hopes. However, it is not known that the announced citizenship by investment program has anything to do with the recent slowing down of the EU accession process. 

Stay tuned for more news about the European citizenship schemes and read the news from Discus Holdings Ltd!


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