MEPs state Golden Visas undermine battle against money laundering and corruption

Two members of the European Parliament (MEPs) of the European People’s Party (EPP) group, in which the ruling Disy is a member of, have criticised the Golden Visa.

The Golden Visa is a practice recently applied by Cyprus and other EU member states aims to undermine the fight against corruption and money laundering.

Following this, The Golden Visa apparently allows investors to acquire citizenship or a residence permit in member states. It has been recently critized by a MEP from Poland who believes it permits the rich citizens to avoid sanctions and commit money laundering.

The Polish MEP continued to say that the EU needs to establish rules instead of placing a price tag on European citizenship.

In addition, back in March, the European Commission said that it would investigate the Golden Visa schemes of member states and issued a related report.

Roberta Metsola, Maltese MEP, also stated that the Golden Visa schemes establishes a “commoditisation” of the EU citizenship.