LONDON: The Gold Visa route to enter the UK that rich Indians use to get the right to live in the UK can be under greater supervision or be abolished at all after colleagues at the House of Lords submitting a change of bill through the parliament must be accessed when He was worried it facilitated money laundering and corruption.
VISA Investor Tier 1 UK, founded in 2008, is the preferred route that has net rich individuals from India, China, Russia and other countries used to get a permanent residency in the UK.
Applicants only need to invest at least £ 2 million (RS 20 Crore) in the UK and the decision about visas will be made in just three weeks – far from the asylum application.
Those who get it are qualified to complete after five years and, if they invest £ 10 million (Rs 100 Crore), they get a permanent residency after two years.
Lord Wallace from Saltaire has submitted changes to the nationality and border of Bill, which is on the committee stage at the House of Lords.
The amaze calls the Cash-For-Residency visa route to be suspended until the investor visa review given between June 2008 and April 2015 is published or until the route is permanently closed to new applicants.
Saltaire told Tii that he was worried about the “foreign influence” and contribution of political parties by the recipient of the visa and “corruption imports” from countries such as Russia, Azerbaijan and Kazakhstan.
“India is less a country that is a concern than Central Asia,” he said.
The amendment will be debated in the committee stage and later, at the report stage, the most supported amendments at the committee stage will be selected.
Those who are passed will be sent back to Commons’s house.
In the October 2015 report, Transparency International UK said, “It is very likely that a large amount of corrupt wealth stolen from China and Russia has been washed to England through the British gold visa program”.
At the House of Lords Debate Saltaire described it as a “embarrassant visa program” that enables “rich people from clever countries to buy the right to live in the UK and, after the period of stay, to qualify for citizenship.” “It has been reported that more than 6,000 gold visas, half of those who have not been issued, are being reviewed because of the possibility of national security risks, even though those who apply in previous years will get full citizenship of UK,” Saltaire said.
“Two assessment of the Court of Appeals last year has thrown questions about this scheme regulations and financial resources guaranteed by applicants.
In the four main cases of the National Crime Agency on illegal finance and wealth orders that cannot be explained in the past two years, they are currently Initial investigations initially entered the gold visa.
Most gold visas have been issued for individuals from countries with high risk of corruption, “he said.
A July 2020 report in Russia by the British Intelligence and Security Committee called for the reshuffle of the level 1 Visa Program (Investor), warning that it provides Russian oligarchy by recycling illegal finance through London “Laundromat”.