Invest £2m to fast-track visa

THE Tier 1 visa allows anyone who invests more than £2million in Britain to apply to live here.

The scheme, dubbed the ‘golden visa’, gives wealthy tycoons residency in exchange for buying UK bonds or shares through a bank.

It is open to entrepreneurs from outside the European Economic Area and Switzerland.

It allows Russian oligarchs to jump to the front of the immigration queue with applications that cost £1,623. Tycoons investing £2million can apply for permanent residence after living in the UK for five years, while those offering £ million can settle after three years, and those with £10million after just two. They can also bring their spouses or partners, and children aged under 18. The original investment is returned to the applicant, along with any interest accrued, meaning the Government effectively pays rich migrants to live in Britain – where they can buy lavish homes and send their children to top schools.

Since 2008, 3,709 Tier 1 visas have been issued, including 807 to Russians. A total of 6,482 family members came to the UK under the scheme, including 1, 49 Russians.