North Macedonia’s interior ministry has drafted amendments that would eliminate the €400,000 investment threshold and the ten‑job creation requirement that have defined the country’s citizenship‑by‑investment (CBI) track since 2016. The proposal replaces the fixed monetary criteria with a discretionary, case‑by‑case assessment of whether an applicant serves a “special scientific, economic, cultural, sporting or other national interest.”
The European Commission has warned that the changes are insufficient and has called for a complete repeal of the scheme, citing the Court of Justice of the EU’s 2025 ruling against Malta’s investor‑citizenship program and the EU’s revised Visa Suspension Mechanism, which makes operating a CBI program grounds for suspending Schengen visa‑free access.
Draft Amendments
- Removal of monetary thresholds – The €400,000 direct investment in a new business employing at least ten people, and the €200,000 contribution to an approved private investment fund (introduced in 2021), are abolished.
- Case‑by‑case model – Applications must obtain opinions from competent state institutions confirming the applicant’s exceptional contribution to the national interest.
- Reduced re‑acquisition period – Former citizens may regain citizenship after three months instead of three years, a measure aimed at attracting diaspora talent.
The ministry says the reform does not eliminate investment as a factor but seeks to prevent “transactional” abuse of the program.
EU Position
- Eighth Report (Dec 2025) – Requires North Macedonia to “abolish the scheme and repeal its legal basis,” disclose all applications made under the special‑economic‑interest provision, and subject each to rigorous background checks.
- Legal precedent – The demand is anchored in the CJEU judgment against Malta’s CBI program (April 29 2025).
- Visa Suspension Mechanism – Since the 2025 Enlargement Package, any operating investor‑citizenship scheme is a ground for suspending a third country’s visa‑free Schengen access.
Track Record of the Program
- Limited issuance – 121 citizenships granted on special‑economic‑interest grounds between 2005 and 2022 (40 refusals).
- Recent grants – One passport in 2023 and two in 2024, averaging roughly seven economic‑citizenship passports per year.
- Overall merit‑based naturalizations – Over 370 grants under Article 11 (scientists, athletes, etc.) since the law’s inception.
The program has been largely dormant, with pending applications and no significant flow of investors despite the earlier launch of a €200,000 fund‑contribution route and the appointment of authorized agents.
Expert Views
- Theodora Jantol (The Passport Investor) – Describes the reform as a shift from a conventional CBI model to “citizenship by merit or exceptional contribution,” comparable to Malta’s post‑CJEU framework. She warns that without strong safeguards, a discretionary “special economic interest” path could function as a de‑facto CBI scheme.
- Laszlo Kiss (Discus Holdings) – Highlights the lack of transparency and the risk that ambiguous merit criteria could foster corruption, especially in non‑EU states.
Accession Context
North Macedonia has held EU candidate status since December 2005, the longest among current candidates. Its EU trajectory has been stalled by:
- Greek veto over the country’s name (resolved by the 2018 Prespa Agreement).
- French‑mediated delays and a Bulgarian veto concerning historical and minority issues.
- A required constitutional amendment to list Bulgarians as a constituent people, which the current government refuses to adopt without guarantees against further vetoes.
The European Parliament’s June 2026 report and statements from Enlargement Commissioner Marta Kos reiterate that constitutional amendments are a prerequisite for opening the first negotiating cluster (Cluster One). Until then, the EU’s main levers over Skopje’s citizenship policy remain the visa‑free regime and annual enlargement reports.
Implementation Risks
- Compliance test – If only a handful of truly exceptional cases are naturalized, the reform may align with the “citizenship by exception” practices of many EU states.
- Substantive continuity – Should ordinary investors continue to receive passports based on undisclosed financial contributions, the EU is likely to argue that the substance of the previous CBI program remains unchanged and could trigger visa‑suspension measures.
Legislative Process
The draft law was posted on the ENER public register in June, initiating a consultation period. After cabinet approval, it must pass through the Assembly, undergoing committee review and up to three readings before a final vote.
The coming months will reveal whether North Macedonia’s revised framework satisfies EU demands or whether further pressure will force a complete abolition of the investor‑citizenship pathway.
Source article: www.imidaily.com
