The UK has suspended the issuance of investment visas

The UK will temporarily stop issuing investor visas, also known as Golden visas, starting at midnight on December 7. This is reported by Bloomberg, citing a statement by the British interior Ministry.

The UK has suspended the issuance of investment visas

The issuance of “Golden visas” will be suspended before the reform aimed at combating money laundering and organized crime. “We will not tolerate people who play against the rules and seek to benefit from the system,” said immigration Minister Caroline Noakes.

The program of issuing visas of the investor, plan to renew in 2019. From this time on, the visa will be available after an audit of the applicant’s condition conducted by an independent British company. Applicants will be required to prove that the money invested belonged to them two years before applying for a visa, the Times reports. In addition, investors will be banned from investing in government bonds.

Investor visa in the UK is intended for citizens of countries outside the European Union. It allows you to quickly obtain a residence permit in the UK, and then citizenship, in exchange for investment in the amount of two to 10 million pounds. Now you can invest in securities, government bonds or British business.
British authorities over the past 10 years have issued about three thousand visas to investors. About 60% of all visas were received by citizens of Russia and China. During the year, starting from September 2017, 361 people received Golden visas, including 115 Chinese citizens and 38 Russian citizens.


Author: Flyn Braun
Graduated from Cambridge University. Previously, he worked in various diferent news media. Currently, it is a columnist of the us news section in the Free News editors.
Function: Editor