Published by Global Banking & Finance Review®
Posted on December 12, 2024
1 min readLast updated: January 27, 2026
Add as preferred source on Google
The EU has revoked Vanuatu's visa-free travel due to its 'golden passport' scheme, citing security and money laundering concerns.
By Charlotte Van Campenhout
BRUSSELS (Reuters) - The European Union revoked a visa-free travel agreement with a country over its 'golden passport' program for the first time on Thursday, ending the deal with the Pacific archipelago of Vanuatu due to concerns over its scheme.
The program enabled foreigners to acquire Vanuatu citizenship and a passport by making a minimum investment of $130,000. This granted them visa-free access to the EU under the visa waiver agreement the country had with the 27-nation bloc.
The EU had already suspended Vanuatu's visa exemption in 2022. An EU official said the end of the agreement with Vanuatu, announced in an EU statement, marked the first time the EU has withdrawn the visa exemption of a country for operating "golden passport" schemes.
The European Commission has repeatedly expressed concern that such programs could create security vulnerabilities and facilitate money laundering.
Vanuatu's Brussels embassy was not immediately available for comment.
In a report released in December 2024, the EU said it was monitoring other visa-free countries, including eastern European as well as Eastern Caribbean states, offering a similar scheme.
(Reporting by Charlotte Van Campenhout; editing by Philippa Fletcher)
The EU's revocation of Vanuatu's visa-free travel due to its 'golden passport' scheme.
Due to concerns over security vulnerabilities and potential money laundering associated with Vanuatu's 'golden passport' scheme.
A program that allows individuals to acquire citizenship and a passport through investment, often raising security concerns.
Explore more articles in the Finance category
