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Russia’s War Puts Europe’s ‘Golden Passports’ Under Microscope

  • Residency programs have been money-spinners for some countries
  • Wealthy Russians among those who flocked to Spain for years

The war in Ukraine has cast a harsh spotlight on the yachts, jets and mansions owned by Russia’s wealthiest citizens around the world, but there’s another luxury good in high demand: passports. 

In Europe over the last decade, as many as 4,000 Russians are estimated to have obtained so-called golden passports by investing a total of over 3 billion euros ($3.3 billion) in property or other assets, according to European parliament research.