The Global Anti-Corruption Consortium recently presented a report revealing important data on the obscure world of Golden Visas. Four EU countries sell citizenship, twelve offer permanent residency permits. Golden Visas have lead to over 25 billion euros invested in the European Union over the last decade.
Critics say that the European Union should simply ban the practice. The sale of Golden Visas poses a serious security risk for the European Union in general and the Schengen system in particular. “It is a prostitution of the Schengen system, giving a fast track to rich migrants who are often kleptocrats, criminals and money launderers.”
Through Golden Visas, more than 100 thousand people have already obtained authorisation for permanent residency or citizenship in throughout member states. Portugal is one of the EU countries that has benefited most from selling Golden Visas, averaging €670,000,000 each year since inception.