The British government has decided to end the controversial method used by thousands of wealthy Russians to obtain investor visas.
This so-called “gold visa” is available to those who have spent at least 2 million in the UK. Most people with “gold visas” are from Russia and China.
Home Minister Priti Patel SaidThe government’s move, announced Thursday, marks the beginning of a “fierce fight against fraud and illicit funding” to end the program. As you said:
Opposition parties have stated they will not run for office until the new Conservative Party receives significant donations from Russian businessmen in recent years.
Between 2008 and March 2020, when the scheme was launched, the UK Home Office issued 2,581 investor visas to Russian citizens when it was suspended due to the Govt epidemic. The government’s move is part of a series of London threats to impose tougher sanctions on Russia over its occupation of Ukraine.
The visa gives its holders the right to apply for a permanent residence permit in the UK. If they had invested 2 2 million, five years later their families would have been allowed to join them. This period was reduced to three years for 5 million and two years for an investment of £ 10 million.
Over the past decade, a significant number of Russian oligarchs have purchased homes in London (“Londongrad” or “Moscow on the Thames”) and many of them have permanent residences.
Under Putin, more Russian businessmen became oligarchs than previous leaders because the president allowed them to retain power in exchange for open support. Reminds And Sky News.
However, the complete abolition of the “gold visa” by many immigration lawyers was not the right decision because it would prevent the “best talent and investors” from coming to the UK.
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