New Delhi: The United Kingdom has decided to close the Tier 1 Investor visa route to all new applicants from all nationalities with immediate effect over security concerns, an official statement from the UK Home Office said on Thursday. The route had allowed entry and stay in UK if an applicant invested funds in share capital/loan capital in active and trading UK registered companies.
The Home Office takes action as route has been failing to deliver for the UK people and giving opportunities for corrupt elites to access the UK, it said. “It has been under constant review and some cases had given rise to security concerns, including people acquiring their wealth illegitimately and being associated with wider corruption. While work has been done to reform the route in order to prevent abuse, the Home Office has acted to close it today,” it added.
The Home Office will be making reforms to the Innovator route, part of the new points-based immigration system, to provide an ambitious investment route which works more effectively in support of the UK’s economy, it further said.
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