The European Commission has said it will scrutinise “golden visa” schemes wherein foreigners are granted residence in return for investment, bringing the risk of money-laundering.

Some residents in Cyprus, Malta and Bulgaria have been able to obtain an EU passport in return for investments starting at 800,000 euros. This also follows some high-profile money-laundering scandals in recent times.

According to the commission, the investments necessary to obtain an investor residence visa, allowing travel for a limited period within the Schengen area, start at 13,500 euros, and are available from 20 EU countries.

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