LONDON – The UK government on Thursday said it plans to suspend a visacategory used by many high net worth Indians over fears that it was beingmisused.
The Tier 1 Investor visa, referred to as a “golden visa” for the fast-trackroute to settlement rights in the UK it offered to the super-rich willingto invest millions in the UK, will be suspended from Friday midnight untilnew rules are put in place next year.
According to official figures, around 76 Indian millionaires have used thisvisa category to gain permanent settlement in Britain since 2009, with apeak of 16 Indian applicants in 2013 and seven last year.