Bulgaria’s top prosecutor’s office says it is investigating so-called golden passports amid controversy that the country does not benefit from the scheme.
Wealthy non-EU foreigners can obtain a passport but a investigation by Euractiv last month said that in many cases the investment doesn’t materialize.
Bulgaria may face an infringement procedure from Brussels.
Most foreigners who have bought Bulgarian “golden passports” have used a scheme that allows them to avoid having to invest anything. Others have deposited money in a Bulgarian bank account only to immediately withdraw it after receiving the passport.
Euractiv reported some 98 foreigners have obtained Bulgarian citizenship after fictitiously declaring “investments” of at least BGN 2 million (1 million euros).
The Movement for Rights and Freedoms on Monday demanded an investigation of every golden passport which was issued after investment.
Justice, interior and security authorities will check particularly whether there have been any violation of the rules by Russia and Chinese individuals, Financial Assets reported.
If there are violations, a request will be submitted to Bulgaria’s president to strip the individuals of their Bulgarian citizenship.
The case will be referred to the appropriate prosecutor’s office on cases of criminal wrongdoing.
Bulgarian passports are attractive to non-EU foreigners because they give them the opportunity to travel freely in the EU.
It is less clear how Bulgaria benefits as data shows that selling Bulgarian citizenship has not brought any significant foreign investment.
Bulgaria’s new government last month passed a bill aimed at getting rid of the scheme but it needs to be approved by parliament.
The European Commission has repeatedly expressed concern about this practice and launched infringement proceedings against Malta and Cyprus over it.
Romania, Latvia and Bulgaria have lowest minimum wage in the European Union-Eurostat
