# European Getaway: Inside the Murky World of Golden Visas URL: https://www.transparency.org/en/publications/golden-visas Type: Publication or report Published: 2018-10-30 Updated: 2022-10-01 --- 30 October 2018 Just like a luxury good, European Union (EU) citizenship and residency rights can be bought. There are many buyers, and there is no shortage of suppliers, which explains why investment migration is a growing, multibillion-euro industry. The rules of the game in this diverse market are shaped, on the one hand, by government officials who have effectively demonstrated their preference for quick gains over longer-term impacts, and, on the other hand, by profit-driven private sector players. However, the selling of passports and permits is not without risks. The response from the EU has been limited thus far, and Member States have been making use of their wide discretionary powers when it comes to issues of citizenship and residency. This report highlights the corruption risks posed by the sale of citizenship and residency and how these schemes threaten the integrity of the EU. ### Related publications ## [Regional Assessment of Integrity in Political Finance in South Asia, Southeast Asia and East Asia](https://www.transparency.org/en/publications/integrity-political-finance-asia) Publication • 03 September 2026 This report reviews systems across 17 countries to identify the areas of political finance most in need of reform. ## [Annual Report 2025](https://www.transparency.org/en/publications/annual-report-2025) Publication • 17 July 2026 In 2025, Transparency International pursued its mission to stop corruption and promote transparency, accountability and integrity at all levels and across all sectors of society. ## [Whistleblowing Authorities in Europe: Roles, challenges and lessons learned](https://www.transparency.org/en/publications/whistleblowing-authorities-in-europe-roles-challenges-and-lessons-learned) Publication • 19 June 2026 This report examines the institutional design, mandates and functioning of national whistleblowing authorities across Europe. ## [Global Corruption Barometer 2003](https://www.transparency.org/en/publications/gcb-2003) Publication • 03 July 2003 ## Priorities - [Dirty money](https://www.transparency.org/en/our-priorities/dirty-money) ## Countries - [Cyprus](https://www.transparency.org/en/countries/cyprus) - [Malta](https://www.transparency.org/en/countries/malta) - [Portugal](https://www.transparency.org/en/countries/portugal) ## Regions - [European Union](https://www.transparency.org/en/region/european-union) ## Projects - [Global Anti-Corruption Consortium](https://www.transparency.org/en/projects/global-anti-corruption-consortium) ![](https://images.transparencycdn.org/images/2018_report_GoldenVisas.jpg?auto=compress&fit=crop&fm=webp&w=1200) [Download](https://images.transparencycdn.org/images/2018_report_GoldenVisas_English.pdf)