UK axes ‘golden visa’ scheme after fraud and Russia concerns

Overdue, and one of the few defensible immigration measures by the UK government:

The “golden visa” system that allows wealthy foreign investors a fast track to live in the UK has been axed amid concern about applicants acquiring their wealth illegally and the growing strain on diplomatic relations with Russia.

The home secretary, Priti Patel, announced that the scheme would end with immediate effect to help to stop “corrupt elites who threaten our national security and push dirty money around our cities”.

Launched in 2008, the “tier 1 investor visa” programme allowed people with at least £2m in investment funds and a UK bank account to apply for residency rights, along with their family. The speed with which applicants were allowed to get indefinite leave to remain was hastened by how much money they planned to invest in the UK: £2m took five years, while £10m shortened the wait to just two.

Source: UK axes ‘golden visa’ scheme after fraud and Russia concerns

About Andrew
Andrew blogs and tweets public policy issues, particularly the relationship between the political and bureaucratic levels, citizenship and multiculturalism. His latest book, Policy Arrogance or Innocent Bias, recounts his experience as a senior public servant in this area.

One Response to UK axes ‘golden visa’ scheme after fraud and Russia concerns

  1. Robert Addington says:

    Again, ‘golden visas’ are a corrupt and thoroughly disreputable practice.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: