They have been kept under constant review, and some cases have raised security concerns, including those involving people illegally acquiring wealth linked to corruption on a larger scale. While steps have been taken to reform this visa pathway to prevent violations, the Home Office has decided to close it today. This is just the beginning of our new fight against fraud and illegal financing – She said Battle.

What is the Golden Visa Program?

owners of this visa They can apply for permanent residence in the UK at a rate that depends on the amount of investment. For an investment of £2 million you can apply for permanent residence after five years, if the investment is at least £5 million you can do it after three years, and an investment of £10 million, only two years later. Unlike other visa categories, there is no minimum time that visa holders must spend in the UK to maintain their status, although this will expire after two years of absence.

The program was tightened earlier

Because there were already doubts about it a program It is used for violations, including money laundering, and twice – in 2015 and 2019 – its terms have been tightened, including. Through stricter controls on how investors acquire wealth, it has been under more scrutiny for some time. Threats related to the program were identified, among other things, by the year 2020 in the Parliamentary Security and Intelligence Committee’s report on Russian influence in the UK.

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As reported on Thursday British The mediaHome Secretary Priti Patel is due to announce the closure of the program either next week or later. “There are security concerns about this visa pathway and we have been considering closing it for some time. The Home Secretary is well aware of the effects of money laundering in the UK and is therefore pushing for closure. Legal applicants will be able to apply for entry into the UK via other avenues.” – According to what was reported by Sky News, quoting a government source.

As this station indicates, most of the people who got this way Law Accommodation in Great Britain comes from Russia and China. According to data from the British Home Office, investor visas until the end of March 2020 were granted to 2,581 Russian citizens. Regarding the situation around Ukraine, the British government last week published new regulations that allow to impose sanctions not only on those directly responsible for aggression against this country, but also on people and companies with links to the strategic interests of Russia.