European Commission has issued its report on RBI/CBI schemes offered by Members States
The Report does not set out specific recommendations to combat the perceived risks associated with Member RBI/CBI schemes. Instead, the Commission will establish a group of experts to recommend, by no later than the end of the year, measures to improve transparency, governance and address security concerns associated with Member RBI/CBI schemes. In the meantime, the Commission will monitor Member State compliance with relevant Union laws.
The Report also highlights concerns regarding sale of RBI/CBI schemes by EU candidate countries including Montenegro, with a view to including relevant conditions as part of their EU accession process.
Finally, the Report also draws attention to schemes offered by third countries that would enable individuals to enjoy visa-free access to the EU, warning that failure to implement security checks to the “highest possible standards” could result in suspension or termination of the relevant visa-waiver agreements.