‘Golden visa’ scheme for upper class Indian, Chinese, Russian citizens suspended

Preventing abuse of golden visa scheme, the British government has suspended the facility for the upper class Indian, Chinese and Russian citizens.

The Tier 1 Investor visa, commonly known as “golden visa” was offered to those willing to invest millions in the United Kingdom and get quick work and residency visa. The visa category has been suspend over fears that it was being misused for money laundering. Immigration Minister Caroline Nokes said only genuine investors can benefit from the immigration system and the step was part of wider crackdown on money laundering.

Over 1,000 such visas were issued to Chinese and Russian millionaires last year.

The visa facility is suspended from Friday midnight until new rules are put in place next year.