Washington, DC – This week, Congressmen Adam Kinzinger (IL-16) and Tom Malinowski (NJ‑7) introduced H.R. 4142, the Golden Visa Accountability Act. This bipartisan legislation would direct the Department of State to create a database that highlights denials of investor visas on the grounds of corruption or human rights abuses. These visas, colloquially known as “golden visas,” are often used by corrupt officials to launder money and live lavish lifestyles in the West. By coordinating with the European Union and the countries of the Five Eyes, the United States would be leading the way to curb efforts by Chinese and Russian kleptocrats to shop for these visas in the West.
Following introduction of the bipartisan H.R. 4142, the Golden Visa Accountable Act, Reps. Kinzinger and Malinowski released the following statements:
“The national security of the United States rests on our ability to deny access to our shores to those who would do us harm. Working with our partners, we need to ensure that we close loopholes that allow foreign corrupt officials to abuse our visa process to live lavish lifestyles in the West. By sharing intelligence on the visa denials of these kleptocrats, we will not only ensure that these visas are reserved for honest investors but will also prevent criminals from freely spending their money in the United States,” said Congressman Kinzinger. “I want to thank Congressman Malinowski for joining me in this effort and for his dedication to countering Russian and Chinese corruption.”
This week, Congressmen Adam Kinzinger (IL-16) and Tom Malinowski (NJ‑7) introduced H.R. 4142, the Golden Visa Accountability Act.
“American citizenship should not be for sale. The EB‑5 cash-for-citizenship program is set to expire on June 30 and we should let it die. The program is too great a risk in this age of kleptocracy, where authoritarian cronies and oligarchs use their wealth to infiltrate and corrode democracy. But we still need to share information with allies who may not have the capacity to detect and reject kleptocrats that shop around until they find a country that will give them their golden visas and passports,” said Congressman Malinowski.
Reps. Kinzinger and Malinowski were joined in introducing the Golden Visa Accountable Act by their colleagues from the Caucus Against Foreign Corruption and Kleptocracy: Rep. Steve Cohen (TN-09), Rep. Brian Fitzpatrick (PA-01), Rep. Sheila Jackson Lee (TX-18), Rep. Marcy Kaptur (OH-09), Rep. Peter Meijer (MI-09), Rep. Katie Porter (CA-45), Rep. Dean Phillips (MN-03), and Rep. Maria Elvira Salazar (FL-27).
The Golden Visa Accountability Act is the third in a series of bills introduced as part of Counter-Kleptocracy Month, an initiative of the Caucus Against Foreign Corruption and Kleptocracy. Previously, the Caucus introduced the Justice for Victims of Kleptocracy Act and the Foreign Corruption Accountability Act.
To read the full text of the bill, H.R. 4142, please see the attached PDF or view it on the Congressman’s website here.