Government cracking down on Russian investor tier one visas
The government is clamping down on rules for Russian oligarchs who want to stay in the UK, Downing Street has confirmed.
A first set of action was taken in 2014-15, including the introduction of powers to refuse applications “where there are reasonable grounds to believe funds have been obtained unlawfully”, which resulted in an 84 per cent drop in applications, a government spokesman said this morning.
“We are currently taking another look at how the route operates and are undertaking further checks on investors how came to the UK through this route before the reforms were introduced,” he added.
This work is still being carried out and began after the Salisbury incident in which former spy Sergei Skripal and his daughter Yulia were poisoned with a nerve agent. Both spent several days in hospital but have now been discharged.
The spokesman declined to comment on any link with Chelsea owner Roman Abramovich, who has been forced to leave the UK after his visa was not renewed. It is thought around 700 tier one visas are active.
But he dismissed the charge made by Tom Tugendhat’s Foreign Affairs Select Committee that the government was taking a lax approach to Russian kleptocrats using the UK as a place to hide their money.
“The UK has taken a leading role in the global fight against illicit finance and criminals should be in no doubt that we will come for them, their assets and their money,” the spokesman said.
“We are determined to drive dirty money and the money launderers out of the UK and we will use all the powers that we have, including the new powers in the Criminal Finance Act, to clamp down on those that threaten our security.
“It is for our independent law enforcement agencies, and ultimately the courts, to use these powers, but this government will continue to take all necessary steps to keep the country safe.”