Money Laundering Rules Hit Wealthy U.K. Visa Applications: ChartBy
Just 215 wealthy people were granted an investor visa for the U.K. last year after the government doubled the investment needed to 2 million pounds ($2.5 million) and introduced new money-laundering checks in 2014. The most persuasive explanation is that “tighter wealth checks have scared off those with something to hide,” said Duncan Hames, policy director at Transparency International U.K., a non-profit organization that monitors corruption. “Claiming applications have dropped because of the increased level of investment required is a red herring.”
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