Corrupt Brazilian tycoon among applicants for Portugal’s golden visas

portugal

Business executives implicated in a Brazilian corruption scandal and relatives of an Angolan politician who has been accused of bribery have secretly bought access to Europe via the government of Portugal.A businessman sentenced to 18 years under house arrest and the former president of a scandal-ridden construction conglomerate are also among those named in a leaked document as having paid hundreds of thousands of euros in their pursuit of a “golden visa” in Portugal. The news follows another leak that showed Russian oligarchs and a Syrian businessman under US sanctions were among hundreds of investors granted citizenship from Cyprus in exchange for cash investment. The two leaks offer a detailed insight into golden visa schemes, whereby countries trade passports, citizenship or visas for investment from wealthy individuals.  Portugal’s “golden resident permit” programme requires investors to place €500,000 (£440,000) in property in exchange for permanent residency. After five years, residency can be converted to citizenship, granting investors the right to live and work throughout Europe under EU rules.(theguardian)…[+]