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U.K. Suspends Visa Program for Super Rich in Crime Crackdown

  • Government bonds will no longer be a qualifying investment
  • Relations between Britain and Russia remain strained
Updated on

The U.K. is suspending its investor visas for the rich, closing a route to permanent residence and British citizenship that’s popular with Russian oligarchs and wealthy Chinese.

The program will be suspended from midnight on Friday ahead of reforms designed to tackle money laundering and organized crime, according to a Home Office statement. They require applicants to provide audits of their financial and business interests and exclude government bonds as a qualifying investment. The freeze will lift once the changes, due in 2019, have been put in place.