Investors: Back to the Past ...
Home Secretary Amber Rudd has announced that the Home Office will review 700 investor visas issued to Russian nationals between 2008 and 2015. During that period applicants were required to invest £ 1 million before being granted an investor visa. The UK government is concerned that a significant number of these visas may have be illegally – because the £1 million was obtained from questionable sources, or these the proceeds of corruption.
It remains unclear why the British government has decided to only review investor visas issued after 2008, since this type of visa has been issued since 2001.
The situation is further complicated because such public statements are sometimes not followed up with action. For example, in 2015/early 2016, the UK government publically announced its plan to re-introduce immigration control for persons leaving the country. Despite giving a timetable for introduction, the project did not go any further. Given this history, at present it is too early to be worried. Even if the Home office does actually begin the review and removes visa status, it will still be possible to challenge the decision in the fairest court in the world - the English court.
Posted on Mar 28, 2018.