The European Commission (EC) has published a report on investor citizenship and residence schemes operated by a number of EU Member States highlighting existing practices and identifying certain risks such schemes imply for the EU, in particular, as regards security, money laundering, tax evasion and corruption.

A lack of transparency in how the schemes are operated and a lack of cooperation among Member States further exacerbate these risks, the report found.

Commissioner for Migration, Home Affairs and Citizenship Dimitris Avramopoulos said: "Legally residing in the EU and in the Schengen area comes with rights and pr...