By Muhannad Samara,
for ACIC Inc.
The home office in the UK has announced on Wednesday December 6, 2018 the temporary suspension of the Tier-1 Investor Visa programme. The programme was said to re-open in 2019 with a new set of policies and investment conditions.
The minister of Immigration Caroline Nokes said on Wednesday that the Tier-1 Investor Visa programme will be revamped to better serve the interests of UK companies and business concerns. Instead of allowing investors to purchase government bonds (which is basically loaning money to the government), investors may be required to inject their capital into operational UK companies.
A second reason for the suspension was a review and an amendment of the practices adopted by the home office in terms of vetting of investor funds. Concerns enveloping the source of funds used by investors to purchase the Gilts (The government bonds required to qualify an investor for this type of visa) also contributed to the suspension.
As reported by the Guardian ©, Minister Nokes said that the programme, once opened, will welcome legitimate investors’ money and introduce tighter vetting policies will be implemented though.
In September of 2018, the Observer reported that the rights of more than 700 Russians to live in the UK is under review following he Salisbury poisonings.
Impact of the Brexit ordeal is also expected to be factored into the new set of rules and policies that will govern the works of the Tier-1 Investor Visa programme.
