Yesterday, the European Union made the decision to eliminate multi-entry Schengen visas for the majority of Russian citizens, representing a major escalation in travel restrictions against limiting Russian access to Europe.
The multi-entry visa ban will affect ordinary Russian citizens seeking to travel to Europe for tourism, business, or family visits. But wealthy Russians and political elites who purchased or obtained alternative citizenship will remain largely unaffected, able to enter Schengen countries using their new passports.
According to an analysis of data from governments and investigative reporting, tens of thousands of Russians (at least 50,000) have gained citizenship in countries including Turkey, Malta, and Serbia, utilizing citizenship by investment programs and other naturalization pathways that provide visa-free or greatly facilitate entry into Europe regardless of whether the country has lifted restrictions on Russian visa applications.
“The EU can ban Russian visas today but it will be unable to ban Serbian citizens from entering Schengen countries tomorrow,” said Christo Grozev, Bellingcat lead Russia investigator. “Thousands of Russians have already found that work-around.”
Serbian Passports Provide EU Access
At least 204 Russian nationals acquired Serbian citizenship between early 2022 and April 2025, including defense contractors and FSB intelligence operatives, according to an investigation by iStories, a Russian investigative outlet. The Serbian passport grants visa-free access to 29 Schengen countries – rendering Thursday’s EU decision irrelevant for these passport holders.
Serbia’s citizenship-by-investment program does not require applicants to renounce previous nationality, allowing Russians to maintain their original passports while gaining European travel access. The program costs approximately 200,000 euros in real estate investment or business creation.
“These are not your average emigrants,” Grozev said. “According to iStories investigation, many of those people that received passports were connected directly to Russia’s Defence Industry and/or security services.”
Serbia has a citizenship by investment program that does not require renounce previous nationality. This allows individuals to hold both their original passport and their new Serbian passport, therefore obtaining travel rights within Europe without having to renounce their original nationality. The cost to obtain Serbian citizenship is approximately 200,000 euros through a minimum 50% real estate investment or creating a new business.
Malta Sold EU Citizenship Despite War
Malta sold citizenship to 730 Russians between 2014 and 2022, including individuals with connections to Russia’s war in Ukraine, SchengenVisaInfo reported. The Mediterranean nation’s program continued processing applications even after the invasion began, offering full European Union citizenship for investments starting at 690,000 euros.
A Maltese passport grants the holder rights to live, work, and travel freely across all EU/Schengen member states – making Thursday’s visa ban completely ineffective against these Russian nationals who now hold EU citizenship themselves.
European Commission officials have repeatedly stated that “European values are not for sale,” yet enforcement of citizenship sale restrictions remains inconsistent across the bloc. Malta suspended new Russian applications in 2022 but continues processing those submitted earlier.
Turkey Became Primary Alternative
Turkey emerged as the largest destination for Russian citizenship seekers. Nearly 5,000 Russians obtained Turkish citizenship in just six months between March and August 2022, according to Turkish Statistical Institute data. Some 39,172 Russians have purchased Turkish property since 2019, qualifying many for the country’s citizenship-by-investment pathway.
Turkey’s program requires a minimum $400,000 property investment and does not mandate renunciation of original citizenship. While Turkish passport holders still require visas to enter the Schengen zone, they face significantly easier application processes and higher approval rates than Russian nationals – providing a practical workaround to restrictions like Thursday’s ban.
Naturalization Provided Thousands More EU Passports
Beyond citizenship purchases, ordinary naturalization has provided pathways for thousands more Russians to secure European passports that make them immune to Thursday’s visa restrictions.
Finland granted citizenship to more than 1,600 Russians in 2024 alone, Finnish immigration authorities reported. Germany naturalized 12,980 Russians during the same period, representing the largest European naturalization of Russian nationals by volume.
Between 500,000 and 700,000 Russians emigrated following the invasion, with 40% settling initially in European Union countries, according to analysis by the International Centre for Defence and Security (ICDS).
“Many who left Russia in 2022-2023 will reach the five-year residency requirement for naturalization between 2027 and 2030,” said Kadri Liik, a senior policy fellow at the European Council on Foreign Relations. “By the time these visa restrictions fully take effect, thousands more Russians will hold EU member state passports.”
Switzerland, Portugal Maintained Access
Switzerland hosted 94 Russian nationals with so-called golden visa residence permits as of 2024, making Russians the top beneficiaries of the program alongside Chinese nationals, according to official statistics. Swiss residence permits provide access to the Schengen zone despite not being an EU member.
Portugal was forced to resume processing Russian golden visa applications in 2024 after courts ruled that blanket nationality-based restrictions violated anti-discrimination principles, according to Portuguese government records. The country has processed 450.6 million euros in Russian investments since 2022, even as it publicly supported sanctions.
Cyprus previously sold citizenship to approximately 3,000 Russians between 2007 and 2020 before suspending its program following corruption scandals. Many beneficiaries retain their Cypriot EU passports – and thus immunity from visa restrictions – despite sanctions.
Non-European Alternatives Flourished
For Russians unable or unwilling to pursue European options, the United Arab Emirates became a primary destination. Dubai and Abu Dhabi offer tax-free residency and do not require visa-free access to sanctioned countries, making the emirates attractive for business operations.
Latin American countries saw significant Russian influx. Argentina received 37,700 Russian arrivals in 2023 alone, according to ICDS research. Brazil, with visa-free access and established Russian communities, became another key destination.
One in five Russian emigrants changed countries between 2023 and 2024, ICDS data shows, with 28% planning another relocation within a year. The migration pattern suggests continued search for optimal residence arrangements as European restrictions tighten.
Enforcement Gaps Undermine Restrictions
Intelligence services across Europe have raised concerns about Russian nationals using newly acquired citizenship for espionage or sanctions evasion, suggesting Thursday’s visa ban addresses only the most visible layer of a more complex problem.
Estonia, Latvia, and Lithuania implemented the strictest controls, largely prohibiting Russian residence permit issuance regardless of investment capacity. The Baltic states cite security concerns given their proximity to Russia and historical tensions.
Hungary continues operating a government bonds-for-citizenship program that remains open to Russian applicants, drawing criticism from other EU member states but no binding enforcement action.
The tension between economic incentives and security imperatives remains unresolved. While EU policy officially opposes citizenship-by-investment schemes, individual member states retain sovereign control over naturalization decisions, creating a patchwork of enforcement that allows wealthy Russians to bypass restrictions like Thursday’s multi-entry visa ban.
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