Rich Russians head for UK in record numbers - FT.com
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the number of Russians who were granted investor visas this year has soared by 69 per cent, according to Home Office statistics. The visas gave foreigners from outside the EU a fast track to residence and citizenship in return for buying gilts worth £1m to £10m.
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Investor visas have proved particularly popular with Russians and Chinese, but the British government is — for the first time in two decades — making them harder to obtain. New rules that came into force last month raised the minimum amount needed to £2m from £1m, and brought in restrictions on the nature of the investment.
Until the recent change, visa applicants had been permitted to spend a quarter of their total UK investment on property, but this is no longer allowed. Although the Home Office did not given a reason for its decision, it was widely considered to be a response to public anxiety about foreigners investing in London properties that remain vacant.