Visa reforms fail to align immigration system with existing legislation despite harmonisation support

first_img whatsapp The new rules mean applicants will have to prove they have control of the £2m they are required to have for two years, rather than 90 days, or provide evidence of the source of those funds.Read more: Home Office backtracks on plans to scrap ‘golden visas’ for rich investorsForty one per cent of respondents said this was not necessary, 28 per cent said this would be extremely useful, 20 per cent somewhat useful and nine per cent useful.Yazdi said: “If you read the JMLSG or speak to anti- money laundering experts, two years means nothing, it is about how they made the money. Two years is more a political stunt frankly.”However, the survey found reform was warranted with 53 per cent agreeing the old rules were open to abuse. Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May Likebonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comUndoBleacherBreaker4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!BleacherBreakerUndoDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinitionUndoFilm OracleThey Drained Niagara Falls – Their Gruesome Find Will Keep You Up All NightFilm OracleUndoPost FunA Coast Guard Spotted Movement On A Remote Island, Then Looked CloserPost FunUndoZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldUndoPets DetectiveAfter Céline Dion’s Major Weight Loss, She Confirms What We Suspected All AlongPets DetectiveUndoHealthyGem20 Hair Shapes That Make A Man Over 60 Look 40HealthyGemUndoElvenarIf You Are Above 30, this Fantasy Game is a Must-Have. No Install.ElvenarUndo whatsapp Visa reforms fail to align immigration system with existing legislation despite harmonisation support James Booth Tags: UK immigration Sixty five per cent thought UK immigration rules should be harmonised with other UK legislation on areas such as tax and financial services.Read more: Home Office tightens golden visa rules after earlier failed crackdownYazdi said: “One of the issues is that the left hand doesn’t speak to the right hand. Immigration law, tax and financial regulations are not harmonised and they are sometimes contradictory.”The new rules to the Tier 1 (Investor) scheme were announced earlier this month after an embarrassing climbdown last year when immigration minister Caroline Nokes announced the visas would be suspended amid money laundering fears, before backtracking on the move, reportedly after opposition from other government departments.The survey was carried out before the new rules were announced. The main reasons cited for the attraction of the UK to wealthy migrants were education with 81 per cent, business opportunities with 70 per cent, lifestyle with 68 per cent, rule of law with 65 per cent and political stability with 62 per cent.Other findings include 71 per cent of respondents agreeing that investor visas bring an economic benefit to the UK. Share Tuesday 19 March 2019 12:01 am Recent reforms to so-called golden visas for wealthy investors have failed to align the rules with existing financial regulations, despite overwhelming support from stakeholders for harmonisation.A survey conducted by Farzin Yazdi, head of investor visas at Shard Capital found 75 per cent of respondents believed immigration rules should be aligned to the widely accepted anti-money laundering guidance provided by the joint money laundering steering group (JMLSG).last_img

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