February 18, 2022
2 mins read

UK scraps golden visas amid security concerns

It has been under constant review and some cases had given rise to security concerns, including people acquiring their wealth illegitimately and being associated with wider corruption…reports Asian Lite News

The government on Thursday closed Tier 1 Investor visa route to all new applicants from all nationalities with immediate effect over security concerns.

Home Office took the action as the route failed to deliver for the UK people and gave opportunities for corrupt elites to access the UK.

Home Secretary, Priti Patel took decisive action with immediate effect. “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,” said Patel.

“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 crack down on people abusing our financial institutions and better protect the taxpayer,” she added.

The route had allowed entry and stay in the UK if an applicant invested funds in share capital or loan capital in active and trading UK registered companies, read Home Office statement.

It has been under constant review and some cases had given rise to security concerns, including people acquiring their wealth illegitimately and being associated with wider corruption.

The settlement will now be conditional on applicants executing an investment strategy that can show genuine job creation and other tangible economic impacts, passively holding UK investments will no longer be enough to obtain settlement.

https://www.youtube.com/watch?v=xFR821buC3U

The introduction of the points-based immigration system has allowed us to target investors we want in the country. Improvements will be made to the Innovator visa route to support this.

This demonstrates the government’s New Plan for Immigration in action – being firm against those wanting to abuse the immigration system while those who want to come to the UK and play by the rules will have that opportunity, added the statement.

ALSO READ-Taliban delegation meets EU envoys

Previous Story

France and EU announce military withdrawal from Mali

Next Story

Blinken’s conditional nod for Lavrov’s invitation

Latest from -Top News

Trump tariffs send world markets into panic

US benchmark crude oil shed $2.70 to $64.25 a barrel after major oil producers announced they plan to increase production. Brent crude, the international standard, was down $2.63 at $67.51 a barrel

EU prepares retaliation for Trump’s tariffs

The European Commission is assembling a fresh round of counter-tariffs aimed at US goods, adding to two existing lists of potential targets—one of which includes products that were hit by suspended tariffs

US, EU slam China’s war games near Taiwan

US President Donald Trump underscored the need to maintain peace in the Taiwan Strait, advocating for a diplomatic approach to cross-strait tensions while warning against the use of force The United States

£13.9 billion of R&D fund to boost innovation, jobs

Funding outlined to support transformational R&D in areas like life sciences, green energy, engineering and beyond More UK innovators like those developing treatment-transforming dementia tests or building world-leading testing facilities to power
Go toTop

Don't Miss

Iran says UK-linked arrests reflect ‘destructive role’ in protests

Musk said on Monday that the company was getting close

Govt to back NATO space launch capabilities

Attending his first NATO Defence Ministerial, the Defence Secretary signed