Investment-Based Citizenship and Residence Programmes in the EU

This paper has two objectives. First, by mapping investment-based the legal provisions that may result in the direct acquisition of citizenship or residence rights through a pecuniary contribution in all the 28 European Union (EU) Member States, it clears the grounds for further normative inquiries in this issue. Second, it discusses the iterative relationship between European Union (EU) citizenship and investment-based citizenship programmes, taking into account the intuitive conflict between the values inherent in EU citizenship and the opportunity structures that it creates for countries to commodify their membership by exchanging it for investment. The paper starts by a theoretical examination of membership in national and supranational polities in order to discern the links between national and EU citizenship. This is followed by an empirical classification of the different investor and residence programmes in the 28 Member States of the EU, aimed at comparing how different countries regulate access to membership on grounds of wealth. The conclusion to the paper discusses of the effects of investor citizenship and golden residence programmes in the broader EU context, taking into account the unique characteristics of European citizenship