The UK government is facing criticism for not being transparent about a visa program called the Golden Visa Program. It allowed wealthy foreigners, including ten Russian oligarchs, to get residency without full disclosure.
The program started in 2011, offering residency to those investing ยฃ2 million or more. Between 2008 and 2015, checks on the source of funds were minimal. Over 2,500 Russians, including Roman Abramovich, benefited.
Labour MP Margaret Hodge criticized the visas as a “loophole for dirty money. The UK Home Office defended itself, citing the protection of operational matters. Similar programs exist in other countries, attracting wealthy individuals from Russia, China, and the Middle East. Vฤra Jourovรก of the European Commission called for more caution in granting citizenship.
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