Visas for overseas millionaires will be auctioned to the highest bidders or “sold” in exchange for donations to hospitals and universities, under proposals by the Government’s official migration advisers.
Wealthy foreigners would make offers for a proportion of so-called investor visas, which allow them and their families to live in Britain indefinitely.
A second option to be outlined in the report is to offer the visas to millionaires who are willing to endow good causes, such as universities, colleges and hospitals.
The ideas are to be put forward amid concern that the existing investor visa route is not working to the country’s economic advantage and has become a “cheap” way for many wealthy Russians and Chinese to remain indefinitely.
Investments of £1 million, £5 million or £10 million can be made in gilts, or government bonds, or in British businesses in return for permission to apply for permanent residence in five, three or two years respectively. Applicants can then seek UK citizenship.
The gilts can later be sold, meaning that the arrangement is effectively a loan, MPs have been told. Yet critics say that the proposed new system would be absurd for offering visas for sale without any long-term investment.
The proposals, which will be published next month, will form part of a report from the Government’s Migration Advisory Committee.
Professor Sir David Metcalf, chairman of the committee, said that it was time for Britain to think a little bit more creatively about the operation of the investor visa route into the country.
“It may very well be that we should be auctioning some of these slots,” he said. “There should be proper discussion about it. Equally it may very well be that we should be letting people in if they endow a Cambridge college, a major teaching hospital or the London School of Economics with £10 million.”
Members of the committee have spent months looking at the route under which 530 investor visas were issued, together with 1,038 visas for their dependants, in the year to the second quarter of 2013. Since 2008 rich Russians, Chinese and Americans have topped the applications list.
Sir David told the Commons Home Affairs Select Committee that most of those on the investor route bought gilts which Britain did not need, as even a £10 million purchase is tiny when the Treasury is selling £300 million of them every day to fund the deficit.
“Sometimes they borrow the money and then they keep the gilts for five years. They get indefinite leave to remain, and then they sell them. We do not need their money,” he said, adding that wealthy investors were effectively making a loan to gain indefinite leave to remain in Britain.
The committee’s options are likely to be controversial as they will be seen as auctioning indefinite leave to remain, which frequently leads to migrants being granted citizenship.
Keith Vaz, chairman of the Home Affairs committee, said that it was time for a full examination of how the investor visa route was being used as a way of getting a British passport without the country really benefiting.
“What was very clear from David Metcalf and what causes us concern is that this is not a way of getting money into Britain to produce more jobs and ensure the economy benefits,” he said.
“This is a way in which those who have money available to buy gilts, get citizenship and then sell them at personal gain. There is no benefit to the citizens of this country. The whole area around the investor route towards citizenship needs to be examined. We have need to have a better way. At the moment the route ensures benefits to individuals but not society as a whole.”
The head of a group campaigning for lower immigration condemned the idea. Sir Andrew Green, chairman of MigrationWatch UK, said: “It would be absurd if this route was allowed to become a means of selling British passports.
“There must be real and significant investment in real products and real jobs, or this route will be seen as a side door to Britain for those who are wealthy, however that wealth was acquired.”
People who are given indefinite leave to remain can apply for citizenship when they have been resident in Britain for five years and have not spent more than 450 days outside the country during the five-year period.
Malta announced plans this month to sell passports for ¤650,000 (£540,000), allowing migrants immediate rights to reside in all member states of the EU. The scheme is unique because it offers a passport without any requirement to be resident on the island beforehand.
THE TIMES
(รายละเอียดอยู่หน้า1และหน้า 2 ของTHE TIMES)
http://jimidisu.com/?p=6212 
UK Visas for sale: wealthy foreigners apply here
Wealthy foreigners would make offers for a proportion of so-called investor visas, which allow them and their families to live in Britain indefinitely.
A second option to be outlined in the report is to offer the visas to millionaires who are willing to endow good causes, such as universities, colleges and hospitals.
The ideas are to be put forward amid concern that the existing investor visa route is not working to the country’s economic advantage and has become a “cheap” way for many wealthy Russians and Chinese to remain indefinitely.
Investments of £1 million, £5 million or £10 million can be made in gilts, or government bonds, or in British businesses in return for permission to apply for permanent residence in five, three or two years respectively. Applicants can then seek UK citizenship.
The gilts can later be sold, meaning that the arrangement is effectively a loan, MPs have been told. Yet critics say that the proposed new system would be absurd for offering visas for sale without any long-term investment.
The proposals, which will be published next month, will form part of a report from the Government’s Migration Advisory Committee.
Professor Sir David Metcalf, chairman of the committee, said that it was time for Britain to think a little bit more creatively about the operation of the investor visa route into the country.
“It may very well be that we should be auctioning some of these slots,” he said. “There should be proper discussion about it. Equally it may very well be that we should be letting people in if they endow a Cambridge college, a major teaching hospital or the London School of Economics with £10 million.”
Members of the committee have spent months looking at the route under which 530 investor visas were issued, together with 1,038 visas for their dependants, in the year to the second quarter of 2013. Since 2008 rich Russians, Chinese and Americans have topped the applications list.
Sir David told the Commons Home Affairs Select Committee that most of those on the investor route bought gilts which Britain did not need, as even a £10 million purchase is tiny when the Treasury is selling £300 million of them every day to fund the deficit.
“Sometimes they borrow the money and then they keep the gilts for five years. They get indefinite leave to remain, and then they sell them. We do not need their money,” he said, adding that wealthy investors were effectively making a loan to gain indefinite leave to remain in Britain.
The committee’s options are likely to be controversial as they will be seen as auctioning indefinite leave to remain, which frequently leads to migrants being granted citizenship.
Keith Vaz, chairman of the Home Affairs committee, said that it was time for a full examination of how the investor visa route was being used as a way of getting a British passport without the country really benefiting.
“What was very clear from David Metcalf and what causes us concern is that this is not a way of getting money into Britain to produce more jobs and ensure the economy benefits,” he said.
“This is a way in which those who have money available to buy gilts, get citizenship and then sell them at personal gain. There is no benefit to the citizens of this country. The whole area around the investor route towards citizenship needs to be examined. We have need to have a better way. At the moment the route ensures benefits to individuals but not society as a whole.”
The head of a group campaigning for lower immigration condemned the idea. Sir Andrew Green, chairman of MigrationWatch UK, said: “It would be absurd if this route was allowed to become a means of selling British passports.
“There must be real and significant investment in real products and real jobs, or this route will be seen as a side door to Britain for those who are wealthy, however that wealth was acquired.”
People who are given indefinite leave to remain can apply for citizenship when they have been resident in Britain for five years and have not spent more than 450 days outside the country during the five-year period.
Malta announced plans this month to sell passports for ¤650,000 (£540,000), allowing migrants immediate rights to reside in all member states of the EU. The scheme is unique because it offers a passport without any requirement to be resident on the island beforehand.
THE TIMES
(รายละเอียดอยู่หน้า1และหน้า 2 ของTHE TIMES)
http://jimidisu.com/?p=6212