UK to Suspend Issuance of Tier 1 Investor Visa

The UK will suspend the issuance of visas for investors of the highest level, which investments must be at least two million pounds ($2.55 million dollars). These measures are taken due to the intensified fight against organised crime and money laundering.

Over the past two years, many wealthy people (including Russian oligarchs, Middle Eastern oil tycoons, Chinese businessmen) came to London to buy luxury goods.

The influx of wealthy people brought the country billions of pounds in terms of investment and helped London to maintain its position as one of the largest financial capitals in the world. Despite this, the state is concerned about the origin of this wealth.

So the representatives of the Home office reported that all potential investors should provide detailed evidence of their financial and business interests. The audit will be conducted by audit firms registered in the UK.