NEW: For years, the US’s “golden visa” program allowed anyone with a bit of dirty money to buy American residence—and eventual American citizenship.
But that may finally be about to change.
Alongside the great @apmassaro3: foreignpolicy.com/2021/07/16/oli…
But that may finally be about to change.
Alongside the great @apmassaro3: foreignpolicy.com/2021/07/16/oli…
Traditional offshore havens—Cyprus, Malta, etc—get plenty of attention for their "golden visa" or "golden passport" systems.
But look at the U.S. version. Look at how cheap it is, how easy it is to access—and how much further an American passport can go.
foreignpolicy.com/2021/07/16/oli…
But look at the U.S. version. Look at how cheap it is, how easy it is to access—and how much further an American passport can go.
foreignpolicy.com/2021/07/16/oli…
It's not just price (and passport) that makes the U.S. "golden visa" program so appealing for kleptocrats.
Kleptocrats can provide whatever information they want about the source of their money, knowing they'll rarely, if ever, be turned down by American authorities.
Kleptocrats can provide whatever information they want about the source of their money, knowing they'll rarely, if ever, be turned down by American authorities.
A recent study from @Transparency_ru showed just how easy it is to land an American "golden visa"—and how willing U.S. lawyers are to help suspect figures work around even the barest requirements.
And we have no idea who's been taking advantage.
foreignpolicy.com/2021/07/16/oli…
And we have no idea who's been taking advantage.
foreignpolicy.com/2021/07/16/oli…
But the counter-kleptocracy momentum in Washington means "golden visa" reforms may be coming.
One proposed bipartisan reform: establish new disclosure and anti-fraud requirements, with regular audits. (@SenSchumer opposes these reforms.)
grassley.senate.gov/news/news-rele…
One proposed bipartisan reform: establish new disclosure and anti-fraud requirements, with regular audits. (@SenSchumer opposes these reforms.)
grassley.senate.gov/news/news-rele…
Another proposed bipartisan reform: create a database of all those *denied* American "golden visas," and push allies to share identities of others denied.
As @Malinowski said: "American citizenship should not be for sale."
kinzinger.house.gov/news/documents…
As @Malinowski said: "American citizenship should not be for sale."
kinzinger.house.gov/news/documents…
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