Europe Wants Stricter Golden Visa Rules to Stamp Out Dirty Money

European Union lawmakers voted to limit so-called golden visas, as countries across the region clamp down on cash-for-passport programs.

Wednesday’s European parliament vote, which passed with a 595 to 12 majority, aims to ban “golden passports” and set up EU-level regulation on visas that includes stronger background checks on applicants and the source of their wealth. After the vote, the parliament expects the European Commission to propose legislation to standardize programs across the common area.

“The commission has a duty now to act,” MEP Sophie In’t Veld said during a press conference in Strasbourg ahead of the vote. “The ...