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The United Kingdom is abolishing its system of the “golden visa”, which is dedicated to wealthy foreign investors and particularly admired by Russian citizens. The system has been heavily criticized since the start of the Ukrainian crisis. Golden visas would allow their Russian owners to launder dirty money.
With our correspondent in London,
since 2008, 2 500 Russian Until 2015 the right to enter the United Kingdom was granted with little or no cheque, in exchange for an investment of several million pounds. After this date and procedures were strengthened, the applications of the Russians fell through. Result: We don’t know the origin of the money invested in the United Kingdom, in fact we don’t even know how much Russian money is in London.
, In the Russian context, most of those earning their wealth through gas or oil are tied to a political economy known as kleptocracy, i.e. government by thieves. John Heathershaw, professor of international security policy at the University of Exeter and author of a report for the think tank Chatham House. If you want to be successful in business, you have to be successful in politics and vice versa. The line between politics and economics is very fine. ,
The device has been widely criticized by British intelligence services and the United States for its lack of rigor. The Home Ministry has acknowledged that the containment has not been sufficiently effective since 2015.
Money is used for investment purposes, but also for effect
Then we can think that once on British soil what this money is used for and even there, it is difficult to know exactly. A part, in fact, is invested in stone or in companies. According to John Heathershaw, the rest can be used to effect.
, This visa tool allows large donations to public institutions, art galleries, universities, etc. It allows you to achieve a certain social status, a certain influence and shine your reputation. It gives access to elite circles where you can influence the debate. ,
In 2018, Theresa May’s government announced a review of visas granted during the period from 2008 to 2015. The findings were never made public, which was again heavily criticized, notably by the NGOs Transparency International and Spotlight on Corruption.
A new system that makes investors more selective
For the interior minister, this would make it possible to select investors who have access to the sector, because yes, the system would be turned down in the fall. But for investors who are already there, it will change nothing regardless of the source of their money.
Anti-corruption NGOs fear the new system is a repetition of the earlier, a publicity stunt in the middle Russian-Ukrainian diplomatic crisis, They call for greater transparency, and above all the assurance that foreign investment brings tangible benefits to the British economy, the lack of a golden visa has not been proven.
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