The Rich Still Want to Move to London Despite Visa Review
(Bloomberg) -- More than 90 immigrants to the U.K. were granted investor visas in the second quarter as Britain continues to draw wealthy people. Prime Minister Theresa May said earlier this year that the government was reviewing the so-called Tier 1 investor program after Labour Party lawmaker Yvette Cooper questioned the origin of money from 700 Russians who have been granted the visas. The number of applicants fell sharply in 2015 after the government doubled the minimum investment for the permit to 2 million pounds ($2.6 million) and new anti-money laundering due diligence checks were introduced.
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