Asian tycoons snap up visas

WEALTHY Chinese are buying their way into Britain through a socalled golden visa scheme.

People from mainland China were last year the biggest users of visas which grant the right to live and work in Britain to anyone who invests £2m in the country.

Chinese spenders were given 116 of these investor visas out of 355, says private wealth firm LJ Partnership, more than double the number of Russian investors. It suggests London’s status as a super-rich bolthole is undamaged by Brexit.

The UK scheme lets wealthy people settle here for around three years if they buy £2m of bonds, shares or other assets apart from property. They can apply to stay forever after three years if they invest £5m, or after two if they spend £10m.