Transparency International has published a new report looking at the UK Tier 1 Investor visa scheme.
Tier 1 Investor visa allows applicants to settle permanently in the UK on the basis that they invest £2 million or more in UK government bonds, share capital or loan capital in active and trading UK registered companies. Applicants can invest up to £10 million and, depending on the amount they invest, they can potentially acquire indefinite leave to remain in the UK in either five (£2m), three (£5m) or two years (£10m).
While the current UK government continues to impose more and more restrictions on all other visa categories, the Tier 1 Investor route currently appears to be the easiest way into the UK.
Individuals holding ILR for a certain period, typically five years, may become eligible to apply for British citizenship, further solidifying their ties to the UK. British citizenship grants individuals the right to a British passport, unrestricted access to employment opportunities, and the ability to participate fully in the political and social life of the country.
Addressing Corruption: 10 Recommendations for Strengthening the UK’s Anti-Corruption Measures
If there is a genuine concern over corrupt wealth entering the UK, the current government will need to consider the 10 recommendations made by the Transparency International, which can be broadly summarised into the following main points:
- Greater integrity and transparency in the Tier 1 Investor visa scheme;
- Improvement of mechanisms for international cooperation to identify and recover corrupt assets;
- Improvement in the law enforcement capacity and the effectiveness of anti-money laundering supervision in the UK.
Indefinite Leave to Remain (ILR), also referred to as settlement or permanent residency, is an immigration status in the UK that offers individuals the privilege of residing and working in the country without any limitations on their duration of stay. ILR bestows various advantages upon individuals, including access to public funds, healthcare services, and educational opportunities. With ILR, individuals can establish their long-term presence in the UK, enjoying the freedom to live and work indefinitely.