years applicants: The golden visa' deal We have in effect been selling off British citizenship to the rich'Read more The reformed visa will require applicants to provide comprehensive audits of their financial and business interests, and show they have had control of the 2m of investment funds required to obtain the tier 1 visa for at least two years, according to The Guardian. Applicants will no longer be able to invest in government bonds as part of the reforms, and must invest in active and trading UK companies. The tier 1 visa, which provides a fast track route to settlement for people willing to invest millions in the UK, will be suspended from Friday until new rules are put in place in 2019. Tier 1 visas, known as golden visas have been criticised for providing an easy route into the UK for oligarchs and the super-rich looking to launder stolen wealth. The changes to the scheme come after a government review of the visa as part of a crackdown on money laundering in the UK. Immigration minister Caroline Nokes said The UK will always be open to legitimate and genuine investors who are committed to helping our economy and businesses grow. In July, figures showed a 46% increase in the number of applicants to the tier 1 investor visa scheme, with more than 400 applications from wealthy overseas investors.
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