Three more foreign citizens and their families received citizenship for investment.

Three more foreign citizens and their families received citizenship for investment.

The corresponding decree was signed by President Igor Dodon. According to a document published in the Monitorul oficial, the president ordered Moldovan citizenship to be granted to three foreign citizens, including two citizens together with their family members. Thus, citizenship for investments, from April to the present, has been granted to five foreign citizens and members of their families. The official program “Moldova. Citizenship through Investment ”was launched in November 2018 in Dubai (UAE). In order to confirm the right to obtain citizenship, the applicant must be of legal age, meet the requirements of the program and make a minimum irrevocable contribution to the Public Investment Fund in the amount of: 100 thousand euros for 1 applicant; 115 thousand euros for spouses; 145 thousand euros for a family of 4 people; 155 thousand euros for a family of 5 or more people. Citizenship received for investments is inherited. With the exception of data on the number of program participants, any other information about the applicants and beneficiaries of the program is confidential. At the same time, the Moldovan authorities introduced a 4-month moratorium on accepting new applications for participation in the Citizenship through Investments program starting July 1, 2019. All applications for Moldovan citizenship submitted before July 1, 2019 will be considered in the manner prescribed by the government, and applicants who meet the program criteria will receive citizenship for investment. The moratorium was proposed to be introduced after a thorough analysis of the program, which revealed a number of problems regarding transparency, the procedures for considering applications, and the deadline for considering applicants' documents. The moratorium will provide more time for making a political decision on the Moldovan Citizenship for Investment Program, and will also allow processing all 34 applications so that in case of cancellation of the program the government would not pay compensation to the consortium promoting the program 3-4 million euros. According to Henley & Partners, a consortium of companies that won the tender to promote the program, the total amount of applications received so far for investment in exchange for citizenship is 18 million euros. // 05.08.2019 — InfoMarket.

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