The European Commission is reportedly set to publish guidance for member states on how to manage ‘golden visas’ – resident permits that can be purchased by wealthy foreigners – amid growing concerns that they are being used by rich criminals to live and move around Europe easily, and that they also pose a high risk of money laundering.

The EC guidance is expected to include ‘necessary background checks’ for applicants across the bloc, as opposed to different requirements laid out by national laws.

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