BRUSSELS – The European Union (EU) revoked a visa-free travel agreement with a country over its ‘golden passport’ program for the first time on Dec 12, ending the deal with the Pacific archipelago of Vanuatu due to concerns over its scheme.
The program enabled foreigners to acquire Vanuatu citizenship and a passport by making a minimum investment of US$130,000 (S$175,000). This granted them visa-free access to the EU under the visa waiver agreement the country had with the 27-nation bloc.
The EU had already suspended Vanuatu’s visa exemption in 2022. An EU official said the end of the agreement with Vanuatu, announced in an EU statement, marked the first time the EU has withdrawn the visa exemption of a country for operating “golden passport” schemes.
The European Commission has repeatedly expressed concern that such programs could create security vulnerabilities and facilitate money laundering.
Vanuatu’s Brussels embassy was not immediately available for comment.
In a report released in December 2024, the EU said it was monitoring other visa-free countries, including eastern European as well as Eastern Caribbean states, offering a similar scheme. REUTERS
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Publish date : 2024-12-12 14:16:00
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