EU calls for tougher checks on golden visa applicants | Fin24
 
In partnership with
  • Trump and Tariffs

    Face-to-face trade meetings with China on the horizon.

  • Peter Moyo

    What is next for Old Mutual and its on-and off-again CEO Peter Moyo as legal manoeuverings continue?

  • Fin24’s newsletter

    Sign up to receive Fin24's top news in your inbox every morning.

Loading...

EU calls for tougher checks on golden visa applicants

Jan 24 2019 06:02

The European Union is warning countries running lucrative schemes granting passports and visas to rich foreigners to toughen checks on applicants, amid concern they could be flouting security and tax laws.

The EU Commission said in a report on Wednesday that so-called golden passports and visas offered in one EU country can open a back door to European citizenship or residency in all 28.

Migration Commissioner Dimitris Avramopoulos says the Commission "will monitor full compliance with EU law."

He warned that "the work we have done together over the past years in terms of increasing security, strengthening our borders and closing information gaps should not be jeopardised."

Bulgaria, Cyprus and Malta offer passports to investors without connections to the countries or even the obligation to live there. Twenty EU states offer visas for investment.

eu  |  economy
NEXT ON FIN24X

 
 
 
 

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

What's your view on deep sea mining?

Previous results · Suggest a vote

Loading...