Italy suspended the issuance of “golden” visas for citizens of Russia and Belarus

Italy suspended the issuance of "golden" visas for citizens of Russia and Belarus. Such visas provided for the opportunity to obtain a residence permit for those who invested in the country.

The Italian magazine Altreconomia writes about it.

"This is to inform you of the suspension of the program for citizens of Russia and Belarus in accordance with the order of the chairman of the committee dated July 14, 2023, in accordance with Recommendation C (2022) 2028 of the EU," the website of the "Investor Visa of Italy" program states.

According to Altreconomia, Italy issued two-year "golden" visas to at least 32 Russian citizens. A total of 36 Russians asked for them.

To get a "golden" Italian visa, you need to invest at least €250,000 in a local start-up or invest €500,000 in a company, buy two million worth of government securities or spend a million euros on charity.

• On March 28, 2022, the European Commission called on the governments of the EU countries to cancel the national programs of "golden" visas for investors. This was done against the background of fears that among the holders of such visas there will be persons subject to sanctions. This is what happened in Great Britain. The head of the Ministry of Internal Affairs, Suella Braverman, said in January that among the owners of "golden" British visas there are ten oligarchs who are under sanctions because of Russiaʼs war in Ukraine.