EU: Golden visa schemes tempt money laun­der­ers

Kathimerini English - - Focus -

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.

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