Nirav Modi, a diamond businessman fugitive who has been on the run from India since January 2018 after his involvement in 14000 crores was spotted in U.K on a golden visa after his passport was revoked by the Indian government.
Golden Visa IN BRIEF:
Golden Visa is an investment visa issued by Britain to the people of countries who are outside the European Union who agrees to invest £2 million in UK government bonds or shares of a company. The person can become a permanent resident after the investment of £2 million for a period of 5 years.
Visa allows the residency for 3 years and 4 months with the investment of £2 million which can be extended for a further period of 2 years to the applicant as well the family of the applicant.
After two years applicants can invest £10 million in order to settle permanently (or £5 million after 3 years) or without any further investment, extend and wait the 5 years.
Where can applicants invest under GOLDEN VISA:
1. Applicants can invest in U.K government bonds, share capital or loan capital. 2. Applicants are however exempted for investing in companies who are engaged in the business of property dealing.
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