UK golden visa: Goment wan scrap scheme for foreign investors
Wia dis foto come from, Reuters
UK goment dey expected to scap visas wey dey offer foreign investors fast-track residency for di UK as pressure dey over UK links to Russia.
One goment source confam reports of one announcement next week on Tier 1 investor visas, wey offer residency to pipo wey dey spend at least £2m.
Na for 2008 dem introduce di scheme to encourage wealthy pipo from outside EU to invest for UK.
E don dey under review for some time, afta concerns say e dey open to abuse.
However, di expected announcement next week dey come as pressure dey on ministers to cut UK ties to Russia over di threat of invasion to Ukraine.
Russia don gada more dan 100,000 troops along Ukraine border - but dem deny say dem dey plan invasion.
Di Tier 1 (investor) visa, wey dem dey call "golden visa", dey offer residency to pipo wey invest £2m or more for di UK, and e allow dia families to join dem.
Pipo wey get dis visas fit den apply for permanent residency for UK, at a fast rate depending on how much dem invest.
End of Di one wey oda users dey read well well
£2m investment go allow one application within five years, to dey shortened to three years with £5m or two years if na £10m be di investment.
Di Home Office say dem don already chook eye inside di scheme to ensure say dem no use am to facilitate corruption, and dem bin no rule out further changes.
One tok-tok pesin add say dem go report "in due course" on di ongoing review of visas wey dem grant before dem make changes to di scheme for 2015.
Changes to di scheme
Di Home Office bin don issue 14,516 investor visas to Russian citizens since di scheme open for 2008.
Dem don make several changes to am since dem introduce am, including extra checks on how and wen applicants acquire dia wealth.
Banks also now bin dey required to complete certain checks before dem open accounts for di applicants - wey also dey required to submit extra paperwork if dia qualifying funds dey invested through different companies.
For 2020, Parliament intelligence and security committee argue for a "more robust" approach to approving Tier 1 visas as part of one report on Russian influence for di UK.
