EU warns of crime risks from governments’ sales of passports and visas
The bloc is concerned that programmes aimed at wealthy foreigners could provide access to organised crime groups
Brussels — The European Commission warned on Wednesday that programmes of some EU states to sell passports and visas to wealthy foreigners could help organised crime groups infiltrate the bloc and raise the risk of money laundering, corruption and tax evasion. The warning is contained in the first report the EU executive has produced over the multibillion-dollar industry of so-called “investment migration”, which allows rich individuals to buy citizenship or residence in countries that put them on sale. Though legal, these schemes are sometimes run in opaque ways and without sufficient checks on those who acquire passports and visas, the commission said, mostly raising concerns about the programmes in Malta and Cyprus. Brussels warned of risks for the entire bloc as passports and residence permits issued by one country of the 28-nation union give unhindered access to most other member states. This causes “possible security risks such as money laundering, terrorist financing, corrupt...
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