Finances

GOVERNMENT APPROVES REGULATIONS ON PROVIDING MOLDOVAN CITIZENSHIP TO FOREIGN INVESTORS

28 september, 2017

The Government approved on Wednesday the regulation on providing Moldovan citizenship to foreign citizens in exchange for investments. The document is aimed at supplementing the plan, approved before.

It is possible to get citizenship with the conditions of introducing at least 100 thousand euros in the Moldova Sustainable Development Public Investment Fund or 250 thousand euros in the strategically important field of the country, with all this, the investor should also present the investment plan for 5 years.

If the potential investor is convicted or was before convicted for money laundering, terrorism financing, violation of labor protection, stealing, fraud, foreign property embezzlement and a number of other violations, he will be rejected from getting citizenship. Also, the applicant will not be granted citizenship if members of his family were convicted for committing crime in the field of terrorism, money laundering, crimes against humanity, military offences.

A special commission will be considering the statement of potential investors on getting citizenship, which will be headed by the Minister of Economy and Infrastructure. The commission will also include one each representative of the Ministry of Finance, the Ministry of the Interior, and the presidential apparatus.

Before adopting the decision, the commission will address to the National Anti-Corruption Center, the Ministry of the Interior and the Information and Security Service for confirmation of the fact that the applicant does not represent a threat for the country public order and security. Besides, it will be monitoring the investment activity of the applicant during five years.

As Infotag has already reported, the draft law which implies granting of Moldovan citizenship to foreign citizens is considered by the Parliament at the end of 2017. Its initiators are Speaker of the Parliament Andrian Candu and Minister of Justice Vladimir Cebotari, who explained the need of its adoption by the fact that potential foreign investors demand from Moldovan authorities more safety.

In accordance with the bill provisions, not more than 5 thousand foreign citizens may get citizenship. This may bring 10-25 billion lei into the state budget.

Many nongovernmental organizations and oppositional parties criticized the law, maintaining that in this way, funds of doubtful origin may be legalized.

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