My Lords, I noted that in his opening speech the Minister pledged that the Bill is based on fairness, that illegal activities will not be tolerated, that we aim to deprive people of UK citizenship in the event of the most serious crimes and, above all, that access to the UK should be based on need and not on the ability to pay. That is why I want to talk about the visa scheme that enables you to buy access to Britain—the golden visa scheme tier 1 investor visas, which allow wealthy people from dodgy countries to buy the right to live in the UK and, after a period of residence, to qualify for citizenship. It is one law for the rich and another for the poor.
In 2018, after the Salisbury poisonings, Theresa May announced a review of the scheme, which to my awareness has not yet been published. It has been reported that more than 6,000 golden visas, half of those yet issued, are being reviewed for possible national security risks, although those who applied in earlier years will by now have acquired full UK citizenship. Two Court of Appeal judgments in the last year have thrown up questions about the regulation of this scheme and the sources of the finance pledged by applicants. In four of the National Crime Agency’s major cases about illicit finance and unexplained wealth orders in the last two years, those under investigation had originally entered the UK with a golden visa.
Most golden visas have been issued to individuals from countries with a high risk of corruption. Between 2008 and 2020, a third of all golden visas were issued to individuals from mainland China and 20% to people from Russia. Other significant countries of origin included Azerbaijan, Uzbekistan, Kazakhstan, Pakistan, Egypt, Saudi Arabia, Ukraine and Turkey. Between 2008 and 2019, 9% of golden visa applications were refused. By comparison, 42% of asylum applications were refused. The UK has regularly been cited in magazines and other sources that appeal to the wealthy as one of the most popular golden visa regimes in the world, and one of the fastest: applications are turned around within three weeks. For UK asylum applications, the turnaround time is around six months or worse. Whether that is regarded as a fair system is an open question.
Last week, I looked at the Intelligence and Security Committee’s Russia report. I quote paragraph 49:
“the UK has been viewed as a particularly favourable destination for Russian oligarchs and their money. It is widely recognised that the key to London’s appeal was … the UK’s investor visa scheme”.
It goes on to say in paragraph 50:
“What is now clear is that … it offered ideal mechanisms by which illicit finance could be recycled through what has been referred to as the London ‘laundromat’. The money was also invested in extending patronage and building influence across a wide sphere of the British establishment … Russian influence in the UK is ‘the new normal’, and there are a lot of Russians with very close links to Putin who are well integrated into the UK business and social scene”—
and, as we all know, into UK politics, in effect corrupting aspects of British institutions and politics, extending into Parliament and the Conservative Party. The Intelligence and Security Committee’s report goes on to say that “one key measure” to limit the damage that is being caused
“would be an overhaul of the Tier 1 (Investor) visa programme—there needs to be a more robust approach to the approval process for these visas.”
I failed to find this touched on when I read through the Bill. I hope the Government will accept that the Bill provides an opportunity to develop a much more robust approach to this rather shameful visa programme.
7.21 pm