The Moldova citizenship by investment scheme expired on September 1, 2020. Investor applications received prior to the program’s closure were taken into consideration.
The Moldova citizenship by investment initiative was short-lived, raising only €545,000 for the Moldovan state budget after pledging €1.3 billion.
As of January 2020, 20 applicants and 32 family members had acquired Moldova citizenship through CBI, compared to only 5 applicants and 3 family members prior to the first moratorium, which ended at the end of July 2019.
According to media reports, 97 investors from Russia, the United Kingdom, China, Australia, and the United States had filed applications.
Background on the Moldova Citizenship by investment program
The program “Moldova citizenship by investment” (MCBI) was established and launched in the second half of 2018 by the Government of the Republic of Moldova in collaboration with its service provider Henley & Partners and the Moldovan Investment Company.
The MCBI program required candidates to make a specific financial contribution to the country through the Moldovan Public Sustainable Development Fund (Public Investment Fund) in order to gain Moldovan citizenship.
In exchange, applicants and their families were awarded Moldova citizenship after going through a rigorous vetting and due diligence procedure that includes extensive background checks.
The candidates and their family members would be granted Moldovan citizenship if the due diligence check was successful.
The investment program was designed for those who wanted visa-free entry to 121 countries around the world, including Schengen nations, as well as for tax optimization reasons.
General requirements for investors:
- over the age of 18
- There is no criminal record.
- Passed the due diligence examination Confirmed the source of funding
- There are no severe health issues.
The following family members may also be granted Moldova citizenship:
- Children under the age of 29
- Parents as young as 55 years old (both of the main applicant and of the spouse)
- Children over the age of 18, as well as parents, should be financially dependent on the primary applicant.
Options for gaining Moldovan citizenship through investment
To be eligible for Moldova citizenship by investment, the primary applicant must be at least 18 years old, complete the application requirements, and make the following principal qualifying contribution:
A non-refundable minimum contribution to the Public Investment Fund:
- A single applicant would donate EUR 100,000, while a couple would donate EUR 115,000.
- EUR 145,000 for a four-person family;
- EUR 155,000 for a family of five or more
- Government service provider fees of EUR 35,000 per application after approval.
Furthermore, applicants must pay government fees of EUR 5,000 for the main applicant, EUR 2,500 for a spouse, EUR 1,000 for a child aged 0 to 15 years, EUR 2,500 for a dependent child aged 16 to 29 years, and EUR 5,000 for a dependent parent — the main applicant or the spouse — who is 55 years of age or older.
Due diligence fees for the main applicant were EUR 6,000 and EUR 5,000 for a spouse, dependent children over the age of 16, and/or dependent parents. The fee for a biometric passport is EUR 300 per person.
It was critical that primary applicants and their dependents have a fully clean criminal record.
The regulations for the MCBI program further provide that anyone who has been denied a visa to a country or territory with which Moldova has visa-free or visa-on-arrival travel arrangements and has not subsequently secured a visa to that jurisdiction will not be allowed into the MCBI program.
Moldova has put in place a four-tier due diligence framework that is often regarded as the most thorough in the world.
Deposits are non-refundable beginning at €100,000
One-time payment to Moldova’s State Investment Fund. This is a state fund that would direct funds obtained for infrastructure, healthcare, and education development, as well as contribute to Moldova’s tourism and cultural sectors, in exchange for a Moldovan passport.
Benefits of Moldovan Citizenship
- Visa free access to 121 nations, including Russia, Turkey, and Schengen countries, do not require visas.
- Citizenship is granted to all family members included in the application of the investment program, including children under the age of 29 and parents.
- Citizenship can be carried down through generations.
- Citizenship of a country that has signed an Association Agreement with the European Union and is attempting to become a member of the European Union.
Efforts at regional integration
To leverage on its unique geographic location, the Government of the Republic of Moldova has increased its regional integration efforts in recent years, advocating open economic policies and steering towards becoming a modern European country.
As a result, its legal framework has been enhanced, and various favorable legislation controlling the regulation of foreign commerce, competition, foreign direct investment, industrial property rights, and other issues have been enacted.
Among the most significant achievements of the government in terms of economic liberalization are:
- The Association Agreement between the European Union and Moldova
- The Comprehensive and Deep Free Trade Agreement
- Turkey Free Trade Agreement
- Participation in the Community of Independent States Participation in the World Trade Organization Participation in the Central European Free Trade Agreement
- Agreements on Free Trade with the People’s Republic of China (in progress)