Archive » United Kingdom » Pay 1mn pounds, get UK passport - FYI
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| ajayxyz Member Member # 7225 | Posted January 19, 2004 10:11 AM I didn't know about such scheme.. =========================================== Pay 1mn pounds, get UK passport January 18, 2004 20:34 IST The United Kingdom government has altered a scheme, without parliamentary discussion, by which a person can pay one million pounds to gain British residence and citizenship. Under the new scheme, foreigners can borrow the one million pounds from the country's banks. The 'Passports for Loans' scheme Howard attracted a barrage of criticism after he announced that anyone from abroad with one million pounds to invest in Britain would be given the right of residence. At the time, Gordon Brown, now chancellor, said the Labour Party would repeal the scheme if it came into power. However, the system has continued to thrive even under Labour, attracting an average of 26 millionaires every year, according to official figures. Instead of having to offer one million pounds up front to gain British residence, rich foreigners will be able to borrow the cash from British banks as long as they can prove they have at least two million pounds abroad. Home Secretary David Blunkett pushed the scheme through the House of Commons last week by using a ministerial order, which does not need debate. "We felt it was necessary to carry out this change to keep pace with our competitors," a spokesman for Blunkett said. Under the scheme, those accepted would be able to live in Britain for four years, then apply for indefinite leave to remain and the right to request a passport. |
| Chess Member Member # 7233 | Posted January 19, 2004 10:23 AM Ajay, that scheme has been there for a while! http://www.workingintheuk.gov.uk/working_in_the_uk/en/homepage/schemes_and_programmes/invester.html? -------------------- .........Nkosi sikelele Africa |
| JayGee Member Member # 7446 | Posted January 19, 2004 10:24 AM Ajay, do you have 1mn GBP? |
| Thorsten von Thyssen Member Member # 4397 | Posted January 19, 2004 11:57 AM This scheme is not that generous. Such people get an immediate green card (ILR equ.) in the USA. Here they have to wait 4 years for the ILR. -------------------- ----------------------------------- |
| ajayxyz Member Member # 7225 | Posted January 19, 2004 04:31 PM JayGee u kidding i'm bankrrupt |
| Chess Member Member # 7233 | Posted January 19, 2004 05:02 PM Ajay, Careful...you have to say whether you have been declared bankrupt or not when completing the VAF If you tick yes..then the shit will hit the fan -------------------- .........Nkosi sikelele Africa |
| ajayxyz Member Member # 7225 | Posted January 20, 2004 10:40 AM On paper my case looks solid but in reality i don't have any money u got me ? sigh EC still haunts me it's not EC actually but the life after that -> job.. |
| Thorsten von Thyssen Member Member # 4397 | Posted January 20, 2004 02:48 PM Well, you don't have to put £1M. £200,000 will be enough under the businessman category. In this case, you need to take an active role in the business and create a minimum 2 jobs for local people. -------------------- ----------------------------------- |
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