MPs vote to abrogate law on citizenship by investment

The MPs adopted a bill to abrogate the law on citizenship by investment after giving it a first reading. According to the bill authors, the given law was adopted non-transparently and can have disastrous consequences for the safety of Moldova and its people, IPN reports.

According to ACUM PAS MP Sergiu Litvinenko, the danger resides in the obtaining of citizenship by persons with a dubious past and in the laundering of the billions of lei stolen from the banking system. This law should be mandatorily abrogated.

Asked by Democratic MP Sergiu Sîrbu what will happen to the persons who already obtained Moldovan nationality based on this law, Sergiu Litvinenko said the two persons will keep the citizenship.

ACUM DA MP Iurie Reniță said the two granted nationalities should also be annulled. His group mate Alexandru Slusari noted that to attract investments a responsible government should build a business-friendly environment. The selling of nationality cannot solve the problem of investments and only contributes to the laundering of the stolen funds.

The citizenship by investment mechanism became functional in November 2018. Under this law, persons who invest at least €100,000 in the Public Investment Fund can apply for Moldavan nationality. The required amount for a couple is €115,000, while for families - €145,000-155,000, depending on the number of members.