EU: Golden visa schemes tempt money launderers
BRUSSELS (Reuters) – The European Commission said yesterday it will provide guidance to European Union member-states on how to manage national schemes to sell passports and residency permits to wealthy foreign citizens, as campaigners and lawmakers warned of money laundering risks. Government schemes to trade citizenship or residence rights for large investments are currently applied in Greece, Cyprus, Austria, Luxembourg, Malta, Latvia, Portugal, Spain, Ireland, Britain, Bulgaria, the Netherlands and France. Hungary has terminated its program. “If you have a lot of money that you acquired through
year, the ECB has ended a waiver that made Greek government bonds eligible collateral for its cheap funding. Folli Follie.