The United Kingdom’s Home Secretary’s findings revealed that Britain’s Golden Visas were also granted to a small number of international investors that potentially posed a high risk of having links to organised crime and corruption.
The recent finding was introduced by the Home Secretary after the government closed down the Tier 1 investor visas last year, VisaGuide.World reports.
Such a program was introduced in 2008 in order to encourage wealthy internationals to invest in the United Kingdom.
Before being closed, there were reports suggesting that the scheme was an open door to money laundering and other unlawful affairs.
The scheme was banned in February 2022 following reports that it had “failed to deliver for the UK people and gave opportunities for corrupt elites to access the United Kingdom”.
Back in 2020, Parliament’s intelligence, as well as the security committee, discussed a more robust approach in order to approve Tier 1 investor visas as part of a report on the influence of Russia in the United Kingdom.
According to the government, labour produced an inadequate response to serious corruption and criminality concerns regarding this program.
Authorities in Britain also announced that the UK’s Golden Visa scheme also benefited Russian oligarchs.
A report provided by IBT Times revealed that at least ten Russian businessmen who were subject to sanctions following Russia’s invasion of Ukraine used the Residency by Investment scheme. Such reports were confirmed through a statement provided by Home Secretary Suella Braverman.
“UK law enforcement has access to this data and is taking action as appropriate under their operational remits. A range of actions has and is being considered including, where appropriate, immigration action,” Braverman pointed out in this regard.
Braverman said that while unable to comment specifically following the operational sensitivity as an example many actions were taken, a total of ten oligarchs were sanctioned who used this scheme after Russia’s invasion of Ukraine.
She added that Britain sanctioned a total of 1,200 people as well as 120 entities related to the Russian state as well as frozen $22 billion in Russian assets since the start of Russia’s invasion of Ukraine.
In addition, the review also revealed that some people who benefited from the Residency by Investment scheme obtained their wealth through organized crime and corruption.
Authorities in the United Kingdom previously revealed that a total of 5,435 golden visas were granted for a period between April 2015 and last year when the scheme was officially closed.
The post Wealthy Internationals Linked to Corruption & Organized Crime Also Benefited From UK’s Golden Visa Scheme appeared first on VisaGuide.World.
