The European Commission on Tuesday will finalize and launch infringement procedures against Cyprus and Malta in relation to their controversial “golden passport” schemes.
The schemes used to grant investors EU citizenship, Vice President Maros Sefcovic told journalists in Brussels.
“We will finalise the launching of the procedure on the investor schemes Tuesday morning. Today (Monday) we discussed it and in particular the compliance of such schemes with EU law, in view of possible infringement proceedings,” Sefcovic said.
“It is important to underline that the Commission has frequently raised serious concerns about schemes. Latest developments reaffirm those concerns”, he added.
He also said the European Commission will stay in close contact with both Cyprus and Malta on the issue.
An Al Jazeera undercover investigation recently revealed how senior Cypriot officials discussed ways to provide citizenship to a convicted criminal in violation of provisions by the island’s citizenship by investment scheme.
The scheme which had come under criticism for some time both at home and abroad was suspended last week.