UK Ends Tier 1 Investor Visas Program for Rich Foreign Investors, Invests £2 Million to £10 Million to Gain Permanent Residency
19th February 2022 | Hong Kong
The United Kingdom (UK) Home Secretary has announced the end of UK “Golden Visa Program” (Tier 1 Investor Visas) for foreign investors with at least £2 million investments with immediate effect. The Tier 1 Investor Visas was introduced in 2008 to attract investors outside of European Union to invest in the United Kingdom. The Tier 1 Investor Visas allowed applicants and family members with at least £2 million investments to apply for permanent residency in UK within 5 years, and 3 years for £5 million investments and 2 years for £10 million investments. The UK government says the “Golden Visa Program” had “failed to deliver for the UK people and gave opportunities for corrupt elites to access the UK.” United Kingdom Home Secretary Priti Sushil Patel:” I have zero tolerance for abuse of our immigration system. Under my new plan for Immigration, I want to ensure the British people have confidence in the system, including stopping corrupt elites who threaten our national security and push dirty money around our cities. Closing this route is just the start of our renewed crackdown on fraud and illicit finance. We will be publishing a fraud action plan, while the forthcoming Economic Crime Bill will crackdown on people abusing our financial institutions and better protect the taxpayer.” On the UK website displays: “You can no longer apply for a new Tier 1 (Investor) visa.”
“ UK Ends Tier 1 Investor Visas Program for Rich Foreign Investors “
United Kingdom Government on Tier 1 Investor Visas Program
The UK government says the “Golden Visa Program” had “failed to deliver for the UK people and gave opportunities for corrupt elites to access the UK.” United Kingdom Home Secretary Priti Sushil Patel:” I have zero tolerance for abuse of our immigration system. Under my new plan for Immigration, I want to ensure the British people have confidence in the system, including stopping corrupt elites who threaten our national security and push dirty money around our cities. Closing this route is just the start of our renewed crackdown on fraud and illicit finance. We will be publishing a fraud action plan, while the forthcoming Economic Crime Bill will crackdown on people abusing our financial institutions and better protect the taxpayer.”
On the UK website displays: “You can no longer apply for a new Tier 1 (Investor) visa.”
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