EU member states in race to the bottom to sell Golden Visas to the super-rich

Issued by Transparency International Liaison Office to the European Union

The doors of Europe are open to criminals and the corrupt, thanks to lax, opaque, and mismanaged ‘Golden Visa’ schemes, according to a report released today by Transparency International and Global Witness. The two anti-corruption organisations say the financial benefit of citizenship- and residency-by-investment schemes is undercut by risks arising from insufficient due diligence, conflicts of interest, and wide discretionary powers.

“If you have a lot of money that you acquired through dubious means, securing a new place to call home far away from the place you stole from isn’t just appealing, it’s sensible. Golden Visa schemes offer a safe haven from authorities who might be looking to seize your stolen assets, and the freedom to travel without raising suspicion,” said Naomi Hirst, a Senior Campaigner at Global Witness.  

“Given these inherent risks, these schemes must have the highest standards of

... read more at: https://www.transparency.org/news/pressrelease/eu_member_states_in_race_to_the_bottom_to_sell_golden_visas_to_the_super_ri

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