b'4. The sale of residence and passports by other EU countries, which the UK has to acceptMany countries sell resident visas and sometimes even passports. They do not call it thatbut that is the effectand the UK is no exception.As a fact, the UK has an investor visa programme that confers residency for 2 million. After five years visa holders are eligible for the UKs indefinite leave to remain status. In the world outside the EU, Australia has a premium investor visa. This requires an investment of (AUD) $5 million. However, EU membership has the consequence that a resident and visa passport in or from one country confers residency, which includes right of abode as well as the ability to travel to all 28 member states. The UK is bound by the sellingover and under the counterof passports/ residency in other member states, an indirect cost of Single Market membership. 4.1 Case Study: Latvia4.2 Case Study: Portugal, Spain, Cyprus,and Greece Latvia offers one of the cheapest of these routes.13 In both Portugal and Spain investors can obtain residence subject only to spending Latvia will grant a residence permit for five500,000 on a property. In Cyprus it is years in return for a bank deposit of 300,000300,000, in Greece it is 250,000. All these and investment in a property, that can beare a fraction of the UKs 2 million investor bought for as little as 72,000 (or 100,000visa, but confer (most of) the same rights. in Riga).14 A Latvian residence permit confers visa- free travel in all 25 Schengen countries.In 2013, then Commissioner Viviane Reding from Luxembourg (at that time the European Commissions Vice-President for justice, fundamental rights and citizenship, now an undistinguished MEP) said in a speech that citizenship must not be up for sale.15Too obvious, too late. The EU, the European Commission and Ms Reding in particular should have thought of this one before.119'