PNL withdraws the „Golden Visa Romania” project after the CSAT analysis: It is the right decision

PNL deputy Glad Varga announced, on Tuesday, the withdrawal from Parliament of the legislative project regarding the „Golden Visa Romania” program, after state institutions and the Supreme Council for National Defense (CSAT) submitted critical points of view on the initial form of the initiative.

„Following the points of view received from state institutions and the analysis carried out by the Supreme Council for National Defense, we decided to withdraw from Parliament the project regarding the „Golden Visa Romania” program. It is a project that we initiated with the aim of attracting solid investments and stimulating economic development in strategic areas,” Glad Varga said.

The liberal MP stressed that the withdrawal is “the right decision” in the context in which such a mechanism must fully comply with national security standards and European rules. He specified that the initiative belongs exclusively to him, with the other 33 parliamentarians being only co-signatories.

Varga explained that the project started from the reality that Romania currently has one of the most restrictive and uncompetitive frameworks in the European Union for foreign investors applying for a right of residence. Current regulations provide for a minimum investment of 100,000 euros, the creation of at least 10 jobs and the issuance of a long-stay visa of only 90 days.

The legislative initiative included two mandatory stages, designed to ensure the security screening of investors: a preliminary check, followed by an analysis of the investment and the granting of the right of residence only after confirmation of compliance.

„Following institutional communications and consultations, we understood the shortcomings of the initial formulation and, precisely in order to build an impeccable framework, we requested the withdrawal of the project. There is no other interest in this endeavor than one: to attract serious capital to Romania, under conditions of security, transparency and responsibility towards the Romanian state and investors”, stated Glad Varga.

The draft law provided for a temporary residence permit, for 5 years, with the possibility of bringing the family and subsequently obtaining citizenship, for any non-EU citizen who would have made investments of at least 400,000 euros in the acquisition of government securities or the purchase of real estate.