Removal of UK ‘Golden Visas’

Sakshi Education

U.K. Home Secretary Priti Patel announced to scrap the “Golden Visa” programme for millionaire investors, in a bid to cut down on fraud.
UK Golden Visas programme will be removed with immediate effect.
The removal of Tier 1 investor visa “is just the start of UK’s renewed crackdown on fraud and illicit finance”.
This move is followed by a Home Office review into visas that were already granted under the program and implemented as government seeks to curb the influence of Russian money.
British government started the review in 2018, after the poisoning of former Russian agent Sergei Skripal in Salisbury. This incident also led to a deterioration in relations between the Kremlin and the U.K.
The UK Golden Visa program offers wealthy foreigners a path to residency, in case they have invested more than 2 million pounds in the U.K.

Published date : 21 Feb 2022 06:15PM